 Tenant, Landlord, and Risk: Revisiting the Debate on Japanese CapitalismNo f144, ISS Discussion Paper Series (series F) from Institute of Social Science, The University of Tokyo Abstract: Moritaro Yamada’s Analysis of Japanese Capitalism (1934) characterized the Japanese economy in that time. First, it highlighted the duality of the modern sector, whose productivity was relatively high, and the traditional sector, whose productivity was relatively low. Second, it argued that the paternalistic risk-bearing mechanism worked in the traditional sector. Third, it discussed that while the stability of society and the continued stagnancy of productivity had been symbiotic conditions, this structure was disintegrating. The work provoked intense debate among Japanese Marxian economists to understand the Japanese economy. However, classical economics then did not have the analytical tools for a twosector economy, duality, risk sharing, and dynamic transition in the growth path, which led to the ambiguity of Yamada’s description and confusion in the debate. We place his argument on duality and risk sharing in an analytical framework, and rephrase its implications. Keywords: Dual structure; risk sharing; peasant economy; tenancy contract; Japan. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:itk:issdps:f144 Access Statistics for this paper More papers in ISS Discussion Paper Series (series F) from Institute of Social Science, The University of Tokyo Contact information at EDIRC. |
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