About the Author

Masayuki Otaki was professor of economics at the University of Tokyo . He completed this book shortly before passing.

Themes: Macroeconomic Theory, Economic Thought, Environmental Economic Theory.

Books: Keynesian Economics and Price Theory : Re-orientation of a Theory of Monetary Economy (2015); The Origin of the Prolonged Stagnation in Contemporary Japanese Economy. Factitious Deflation and the Meltdown of the Japanese Firm as an Entity (2015).

Contents

List of Figures

Acknowledgements

Introduction

Historical Narrative

Chapter 1. A Concise Economic History of Japan: Prosperity and Crisis

Theory

Chapter 2. A Conundrum in Monetary Economics: Does Keynes Abandon the Second Postulate of the Classical School?

Chapter 4. Labor Productivity Stagnation, the Radical Quantitative Easing Monetary Policy, and Disinflation

Chapter 5. An Equilibrium Selection Procedure Based on Ramsey's Probability Theory

Appendixes

Index

About the Author