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Information Bulletin of

The Union of National
Economic Associationsin Japan

日本経済学会連合

1985

INFORMATION BULLETIN OF
THE UNION OF NATIONALECONOMIC ASSOCIATIONS IN JAPANThis Information Bulletin is designed to serve as an introduction of the academic activitiesof member associations of the Union to the economic societies throughout the world. The
copies will be distributed by the secretariat of the Union to economists and societies inother countries whose names have been given by the member associations of the Union.
Managing Editors
Masatoshi Hayashi, Yokohama Municipal University
Yasuo Kawashima, Meiji Gakuin University
Tsuneo Nakauchi, International Christian University
Shizuya Nishimura, Hosei University
Hisanori Nishiyama, Meiji University
Editional Committee
Fumimasa Hamada, Keio University
Makoto lkema, Hitotsubashi University
Hisanobu Kato, Asia College
Masami Kita, Soka University
Shoji Nedachi, Nihon University
Kazuo Nimura, Hosei University
Junko Nishikawa, Tokyo Metroporitan College ofCommercelkujiro Nonaka, Hitotsubashi University
Kiyoshi Okamoto, Hitotsubashi University
Yoshio Okuda, Chuo University
Haruo Shimada, Keio University
Shinya Sugiyama, Keio University

Yoshinori Suzuki, Kanagawa University
Soko Tajima, Hitotsubashi University
Hideo Tamura, Chuo University
Shigeru Tanase, Hitotsubashi University
Koichi Tanoue hi, Hitotsubasho University

Directors of the Union
President
Secretary General

Assistant Secretary
AuditorEmeritus

Susumu TAKAMIYA, Sophia University
Takashi SHIRAISHI, Keio University
Takashi FUJII、Nagoya University
Soichiro GIGA, Senshu University
Masao HAMABAYASHI, Hitotsubashi University
Yasuzumi IWAO,Chuo University
Takasuke KUMOMURA, Nihon University
Shunsaku NISHIKAWA, Keio University
Kyojiro SOMEYA, Waseda University
Mikio SUMIYA, Tokyo Wemen's Christian University
Shigeru T ANESE, Hltotsubashi University
Shuzo TERUOKA, Utsunomiya University
Hirobumi YAMAMOTO, Hosei University
Yoshiki YOSHIZAWA, Senshu University
Norio TAMAKI, Keio University
Tomoji ICHINOSE, International Christian University
Heizaburo SONODA, Nihon University
Yoichi ITAGAKI, Asia College
Noboru YAMAMOTO, Saka University

Business letters to be addressed, Secretariat of The Union of National Economic Associa­
tions in Japan, C/0 Professor Takashi SHIRAISHI, Keio University, Mita 2-15-45,
Minatoku, Tokyo 108, Japan.

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COPYRIGHT 1984 BY THE UNION OF NATIONAL ECONOMIC ASSOCIATIONS
Printed in Japan. DAITO ART PRINTING CO., LTD Tel. (03) 554-8341

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INFORMATION BULLETIN{{{

The publication of The Information Bulletin is part of a program,

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aimed at promoting international exchanges of economic studies,commemorating m 1981 the 30th anniversary of the establishment of{{

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development of Japanese economic studies. We would be most pleased
if The Bulletin will assist every sort of academic societies and institu-

studies in Japan. It would also be our pleasure if economic researches inJapan, introduced in The Bulletin, could interest scholars abroad andthus contribute to the advancement of economic studies in othercountries.
The Information Bulletin No.5, 1985, provides record of the papers{{

given, and the discussions taken place, at the latest annual meetings{{

DEVELOPMENT

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1984-1985. Included in The Bulletin is a special essay, entitled THE
OF SOCIO-ECONOMIC HISTORY IN

JAPANFinally, as an appendage to The Bulletin, a list of the member associations, containing relevant organizational information, is presented.
The Information Bulletin is an annual publication, with each annual
issue being completed in March of each year. A copy will be sent, withcompliments of the Union, to universities, economic research institutions and scholars who are connected to the member associations,throughout the world.

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涵咄宇守守守守守守守守咄守守守吟守咄守守咄吟守守守守守守守守守守守守吟呵O翁CONTENTS
Page
THE DEVELOPMENT OF SOCIO-ECONOMIC HISTORY IN JAPAN .............. 1,
Activities of the Member Associations for 1984 - 1985
ACCOUNTING ASSOCIATION, THE JAPAN .................................. g
AGRARIAN HISTORY SOCIETY THE ....................................... ·12
AGRICULTURAL ECONOMIC SOCIETY OF JAPAN, THE ...................... ·14
ASIAN POLITICAL AND ECONOMIC STUDIES, THE JAPAN ASSOCIATION FOR .16
BUSINESS ADMINISTRATION,JAPAN SOCIETY FOR THE STUDY OF ......... ·1 g
BUSINESS ENGLISH ASSOCIATION,JAPAN ................................ ·22
BUSINESS HISTORY SOCIETY OF JAPAN .................................. ·2 5
BUSINESS MATHEMATICS, JAPAN SOCIETY OF ........................... ·2 7
COMMERCIAL SCIENCES,JAPAN SOCIETY OF ............................. ·28
COMMODITY SCIENCE, JAPAN SOCIETY FOR · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · ·30
ECONOMIC SOCIOLOGY THE SOCIETY OF .. · · · · · · · · · · · · · · · · · · · · · · · · · · · · · · ·32
ECONOMIC THOUGHT, THE SOCIETY FOR THE HISTORY OF ..................35
ECONOMICS AND ECONOMETRICS, THE JAPAN ASSOCIATION OF ...........37
ECONOMIC GEOGRAPHERS, THE JAPAN ASSOCIATION OF ..................39
ECONOMIC POLICY ASSOCATION, JAPAN ................................ -42
FINANCE ASSOCIATION,JAPAN ...........................................44
FISCAL SCIENCE, JAPANESE ASSOCIATION OF ............................ -48
FOREIGN TRADE, JAPAN ACADEMY FOR .................................. ·50
INSURANCE SCIENCE, THE JAPANESE SOCIETY OF ........................ ·52
INTERNATIONAL ECONOMICS, THE JAPAN SOCIETY OF .....................53
MONETARY ECONOMICS, THE JAPAN SOCIETY OF .................... ・ ・ ・ ・ ·55
ORGANIZATIONAL SCIENCE, THE ACADEMIC ASSOCATION FOR ............ ·58
PERSONNEL AND LABOR RESERACH ACTIVITIES, JAPAN SOCIETY FOR ..... ·60
POLITICAL ECONOMY, JAPAN SOCIETY OF ................................ ·63
POPULATION ASSOCIATION OF JAPAN, THE ....................... ・ ・ ・ ・ ・ ・ ・ ·66
PUBLIC UTILITY ECONOMICS, THE JAPAN SOCIETY OF ..................... ·68
REGIONAL SCIENCE ASSOCIATION, THE JAPAN SECTION OF THE ........... ·70
SECU印TIES, THE SOCIETY FOR THE ECONOMIC STUDIES OF ................73
SOCIALIST ECONOMICS, ASSOCIATION FOR THE STUDY IN .................75
SOCIAL POLICY, THE SOCIETY FOR THE STUDY OF ........................ ·78
SOCIO-ECONOMIC HISTORY SOCIETY ........ ·.. · · · · · · · · · · · · · · · · · · · · · · · · · ·80
STATISTICAL SOCIETY,JAPAN ........................................... ·82
TRANSPORTATION ECONOMICS,JAPAN SOCIETY OF ..................... · 84
New Member
PLANNING ADMINISTRATION, JAPAN ASSOCIATION FOR .................. ·8 7
List of Member Associations

THE UNION OF NATIONAL ECONOMIC
ASSOCIATIONS IN JAPAN
日本経済学会連合

The Union of National Economic Assocations in Japan was established in 1950, as a sole
nationwide federation of associations of scholars and experts on economics, commerce, andbusiness administration. In order to obtain membership to the Union, an association is subject
to a strict examination of its academic activities. As of 1984, the Union had a membership of
33 associations as in the table of contents. Inclusion of a recent entrant to the Union, Japan
Association for Planning Administration brings the total membership for 1985 to 34 associa­
tions.
The aims and objectives of the Union are to support scholarly activities of its member
associations and to promote academic exchanges both among members themselves, and be­
tween Japanese and overseas academic societies. The main activities of the Union are: (1) the
publication and distribution of academic materials concerning Japanese economics and papers
presented by member scholars, (2) the sending of member scholars to overseas conferences,(3) holding and supporting of international conferences in Japan, (4) providing financial
assistance to member associations inviting foreign scholars to Japan, and (5) collecting informa­tion on activities of member associations and the issuing of a news bulletin.
The Union published in 1974 "KEIZAIGAKU NO DOKO" (The Trend in Japanese Eco­nomics), based on a survey of economic studies undertaken in postwar Japan. The Supple­
mentary volume covering Japanese economic studies after 1974 was published in 1982.
The Union and the International Economic Association (!EA) jointly held the Fifth World
Congress of the !EA in Tokyo from August 29 to September 3, 1978. The Union dispatched
30 member scholars to the Sixth World Congress of the !EA held in Mexico in 1980. And
most recently, the Union and the International Institute of Public Finance jointly held theInstitute's 37th Congress at Tokyo in September 1981.
The Union celebrated in 1980 the 30th anniversary of its founding by launching a variety ofactivities, including the publication of The Information Bulletin. In editing The Bulletin
Mrs. E.O.A. Checkland at Cambridge, England, has been assisting us by giving suggestions andcorrecting English, and we are most grateful to her for her kind co-operation.
Address:

Professor Takashi SHIRAISHI, Secretary General of the Union,
Keio University, Mita 2-15-45 Minato-ku, Tokyo 108, Japan.

THE DEVELOPMENT OF SOCIO-ECONOMIC HISTORY IN
JAPAN
Ken'ichiro SHODA*I

The establishment of the Socio-Economic History Society on 29 December 1930 canbe taken as the starting-point of the subject in Japan. Socio-economic history involves
various aspects, including economic, legal and social history, and is a discipline where
people specializing in these various fields can meet together_・
The constitution adopted at the Society's inaugural general meeting states that,'Thissociety aims at studying and developing social history, economic history, legal history
and the history of thought, as well as at deepening friendship and cooperation among re­searchers'. Yoshio HON'IDEN, Yoshiro HIRANUMA and Takeo ONO played the lea­ding role in founding the Society. Yoshio HON'IDEN (The University of Tokyo)
explains as follows:(In establishing the society), the next issue was the scope of the subject. Economic
history is the favourite subject of our time and has a close relationship with the legal his­tory. If we take examples from abroad, G.v. BELOW and P.G. VINOGRADOFF arelegal historians as well as top-class economic historians. Their viewpoints differ, butthey utilize almost identical materials and present mutually supplementary studies.
Similar relations can be detected in the fields of political history and social history. In
the history of economic thought, the situation is slightly different, but it often happensthat the same scholars engage in relevant studies. Therefore, we intended to include all
those historical researchers. ('The Founding History of Socio-Economic History So­
ciety'. "The Socio-Economic History", Vol.1. No」).
The Society did not adopt a hierarchical structure, prefering to operate through asystem of reaching mutual agreement. In line with this, Yoshiro HIRANUMA (Waseda
University), the first president of the society, explained:
Anyone who is going to study economic history should have a knowledge of
economics, just as only jurists should investigate legal history and those who know
about religion religions history. But, since those with such practical knowlege are rare, itis necessary to seek the cooperation of specialists in each field. Therefore, economic his­
tory must deepen its ties with legal and social history. That is why our society has adop­
ted the broad title of "Socio-Economic History" ('On the first issue of the Socio­
Economic History', "The Socio-Economic History", Vol.I, No. I).
Takeo ONO (Hosei University), the second who made great efforts for the society
after Japan's defeat in 1945 explained:-1-

'The Society and its publication use the phrase, "Socio-Economic History", but thisdoes not mean that the intention to deal only with social and economic history. It em­
braces all fields of history: legal history, political history and the history of thought inJapan, and the rest of the world. We will always appreciate cooperation from those scho­lars who have similar interests.'('Editorial postscript', Vol.1, No.l).
II
There had of course been a period of preparation prior to 1930, when the Society was
actually established. This period saw various developments. For example, if we takesocial history, "Social History in Japanese History" by Hiroyuki MIURA (Kyoto Uni­
versity) was published in 1920; "A Social History of Japan" by Eijiro HONJO (Kyoto
University); and in 1924, "A Social History of Japan" by Masajiro TAKIGAWA (Chuo
University), who was one of organiser of the society, in 1929. Their studies were very
influential. Even before this, in 1919, Sadakichi KITA had begun to publish the periodi­
cal, "Nation and History" (from 1922, "The Study of Social History"). Local studies,
which were later established as folklore studies, were gradually being promoted byKunio YANAGIDA and the group around him.
Such dynamic field naturally reflected the problems facing Japanese society at thetime. The development of Japanese capitalism created frustration and poverty alongwith prosperity. Rapid urbanization added further complications. Unrest including te­nancy disputes, strikes, rice riots and the Hibiya incendiary affair, were a symptom of
the disruption and suffering caused by major social changes. KITA insisted that it wasnecessary to conduct historical studies from the view point of'the rejected'. With diffe­
rent conceptual frameworks and methodology, both MIURA and YANAGIDA empha­
sized the importance of concrete studies of the social system, national character and cus­
toms. In "An introduction to Japanese Social History", published in 1922, Manabu
SANO (Waseda University) gave the Marxist view that politics could not be understoodin isolation from the nation's working life. Such studies in the field of social history ilus­
trated versatility and inter-relatedness of history.
In the field of the legal history, important achievements from 1925 to 1930 include"The History of Legislation", Vol.1 by Kaoru NAKADA (The University of Tokyo);"Studies on the History of Legislation in Japan", Vol.1 by Kenji MAKI (Kyoto Univer­sity); and "A History of Legislation in Japan", by Masajiro T AKIGAWA. These studies
revealed that the law is closely related to politics, economy and society. Legal history is
not simply the history of law, but involves study of the history of politics, economy andsociety as seen from the viewpoint of the law. "The Life of Japanese Peasants, as obser­
ved from the Legal System", 2 vols. (1926 & 1927) by TAKIGAWA was both economic
and social history.
Space does not permit an elaboration of political history and the history of thought
despite many valuable works in these fields. Since human life contains many elements,
to get at the whole truth we must pursue many different, but inter-related fields. There
are many approaches but the goal is the same. The establishment of the Socio-Economic
History Society in 1930 was an inevitable result of requirements of this situation.

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III
This sort of inter-disciplinery approach was first promoted by economic historians
under the influence of the upsurge of studies in economic history both in Japan andabroad. Thus in late 1929 Eijiro HONJO (Kyoto University) organized a society for the
study of economic history which began to publish a monthly journal, "Studies in Econo­mic History". This followed similar movements abroad. In 1926, the Economic History
Society had been organized in Britain, publishing "The Economic History Review". In
France could be found "Annales d'histoire economique et sociale", and in Germany,"Vierteljahrschrift flir Sozial-und Wirtschafts-Geschichte".
The second stimulus came from Marxism. Since 1920, Marxism had influenced
many Japanese social scientists, as it was considered to be a true scientific approach en­compassing both the spatial and chronological aspects of human society. The Marxist
emphasis on the economic infrastructure as the fundamental factor of society tended toincrease the relative importance of economic history. Many researchers came to consi­
der that economic history was the leader of the social sciences, an idea now thought pre­sumptuous. Those scholars who played central roles in the establishment of the Socio­
Economic History Society, however, did not agree with the Marxist standpoint. Whileseeing the economy as fundamental, they stressed the importance of the inter­
relationships between a whole variety of factors of which the economy was only a part.
In his "Social Issues in Japanese History", Hiroyuki MIURA criticized exessively theo­
retical approaches to Japanese history and insisted that attention be paid to national cha­racter and tradition. Kunio YANAGIDA and his followers approached to find history
from the level of the'common people'. Those who founded the Socio-Economic History
Society shared such ideas. They were confident that economic historians were in a posi­tion to coordinate all these related fields. What they really wanted was an organization
which would act to encourage interdisciplinary studies. This attitude is what I call socio­
economic history.
Clearly, therefore, the Society of Socio-Economic History started with members re­presenting a variety of standpoints and interests. From the start, a basic policy of the so­ciety was to avoid academic factions and any elitism from professional academic. As HO­
N'IDEN commented,'the society must embrace all the researchers of Japan. It should
never allow a situation to develop in which one particular group of researchers could
monopolize the organization. If such a situation were allowed, it would be invalideate
the raison d'etre of the Society'('Founding History of the Socio-Economic History').
Zen'ichi ITANI declared,'We, dedicate ourselves to the study of the newly rising socio­
economic history, denounce academic factions' as feudalistic ('Editorial postscripts',
Vol.1, No.I).
In pre-war Japan authoritarian attitudes prevailed. The fact that the Society startingin 1930 had such highly democratic and liberal principles is therefore worthy of note.
The progressiveness and foresight of the founders of the Society must be commended.
We, their successors, must not fail to re-confirm the significance of the approaches towhich they subscribed.

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IV
The Society's work can be roughly devided into the annual national convention, theregional associations with their more regular meetings, and the publication of its journal,"Socio-Economic History". The national conventions are held alternately in Tokyo andother cities, and the five regional associations, based in Tohoku, Kanto, Kansai, Chu­
goku, and Kyushu, give opportunities for local scholars to deliver papers as well as ensu­
ring the continuation of the original democratic principles on which the Society was
based.
The first national convention was held on November 21, 1931, at Waseda University.
In the morning session, five papers were presented as follows: Mitsuo TOKORO (Toku­
gawa Institute of Forestry Management History), 'Forestry Policy in the Bishu
Domain'; Kentaro MURAKAWA (The University of Tokyo),'On Greek Economic
History'; Zenji Y AGISAWA (Chuo University),'Agricultural Crisis at the Beginningof the Meiji Era'; Toranosuke NISHIOKA (The University of Tokyo),'The Develop­
ment from Manorial Storehouse to Wholesalers, Guilds, and Markets'; and Motohiko
TERAO (Waseda University),'The Origin of Shares in Europe'. In the afternoon ses­sion, public lectures were held. The lectues and the themes were as follows: Yonosuke
KANEKO (Hitotsubashi University),'The Life of MacDonald'; Kanetaro NOMURA(Keio University),'The Mainstream of the Economic Thought in the Tokugawa Era';
Kenji MAKI (Kyoto University),'A Study on the Formation of Feudalism in Japan';and Toshiki IMAI (The University of Tokyo),'Socio-historical Study of the Edo Era'.
As can be seen, papers included studies of Japanese history, Western history, economic
history, history of thought and social history. We can be proud of the achievements ofthis first convention.
The national convention has always proved an extermely important forum. During
the pre-war years, the number of participants grew and papers were often challenging
and controversial. However, progress was hampered first by the war with China, whichbegan in 1937, then by Japan's entry into World War II in 1941. From 1943, there weregrowing signs of defeat and life became very difficult. The Society, in spite of difficulties,
persisted in holding its national convention. By 1944 a national convention on the usual
scale was no longer possible, due to difficulties of transportation, lodging and so on. The
Society managed to hold a convention in October of that year however, reducing thescale to a research presentation meeting. Three papers were presented on the set theme,"War and Economy". In the year of Japan's defeat, there was no convention, but surpri­
singly, the following November saw the 15th convention. Papers were presented on theunified theme,'Historical Studies in the Emancipation of Serfs'.
From the first convention in 1931 to the 13th, the meetings had no set themes. Be­
sides the papers from members, a public lecture meeting was arranged. In the postwar
conventions, papers were accepted both on free themes and on set themes. In the imme­
diate post-war years, food, lodging, and transoprt were very difficult to organize and someetings attracted people only from the neighbourhood. It was therefore impossible toask for papers from a wide range of members and so organize a comprehensive program.
These�ircumstances led the Society to chose a theme and request particular members-4-

Table 1.
Year

Name ofUmvers1ty·

Set Theme

WasedaUmvers1ty
Kyoto ImperialUniversity
KeioUniversity
Kyushu ImperialUniversity
Tokyo ImperialUniversity
OsakaUniversity of Commerce
Tokyo University of Commerce
1938 Tohoku ImperialUniversity
1939 Tokyo Science & Literature
University
1940 Jingu KogakukanUniversity
1941 WasedaUniversity

1st 1931
2 1932
3 1933
4 1934
5 1935
6 1936
7 19378901
11

23 4 5
111

ー
1942
1943
1944
1946

Kyoto ImperialUniversity
KeioUniversity
Tokyo Kanda Gakushi Kaikan
Tokyo Shisei Kaikan

16

1947 Tokyo ImperialUniversity

17
18

1948 Kyoto ImperialUniversity
1949 HitotsubashiUniversity

19
20
21
22

1950
1951
1952
1953

23

1954 KansaiUniversity

24

1955 TokyoUniversity of Education

25

1956 Nagoya University

26

1957 TheUniversity of Tokyo

27
28

1958 KyotoUniversity
1959 Matsuyama Commercial Uni­
versity1960 ChuoUniversity

29

KobeUniversity
KeioUniversity
KyushuUniversity
WasedaUniversity-5-

Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures
Public lectures(Japan) Agriculture & the Land-holding
System(West) Commerce & Industry in Early
Modern Times(Orient) The Land-holding System
Public lectures
Public lectures
War & Economy
Historical Studies in the Emancipationof Serfs
A Re-examination of the Industrial Re­
volution
A Re-examination of the Feudal System
Prerequisites of Modernization in AsianCountries.
CitiesRural Industry
Foreign Trade
The World at around the time of the
Meiji Restoration
The Establishment of the Feudal Lord
System in Japan
Peasant Uprising in the late Tokugawa
PeriodDomain Reform and the Meiji Restora­tion
Problems in the Period of the Establish­
ment of the Domains
The Early Bourgeoisie and Civic Society
Problems in the Formative Period ofJapanese Capitalism
Problems of Industrial History in the
Late Tokugawa and Early Meiji Periods

30
31

1961 ShigaUniversity
1962 MeijiUniversity

32

1963 HokkaidoUniversity

33
34

1964 KeioUniversity
1965 OsakaUniversity

35

1966 HitotsubashiUniversity

36

1967 HiroshimaUniversity

37
38
39

1968 WasedaUniversity
1969 KansaiUniversity
1970 St. Paul'sUniversity

40

1971 KeioUniversity

41
42
43
44

1972 Kyoto Industrial College
1973 Yokohama Municipal Univer­city
1974 KobeUniversity
1975 GakushuinUniversity

45

1976 WasedaUniversity

46
47

1977 KyushuUniversity
1978 SokaUniversity

48

1979 HitotsubashiUniversity

49
50
51
52

1980
1981
1982
1983

53

1984 SeijoUniversity

54

1985 HokkaidoUniversity

TheUniversity of Tokyo
WakayamaUniversity
HoseiUniversity
NagoyaUniversity

The Birth of the Entrepreneur
The Historical Origins of Industrializa­tion in Japan
Hokkaido and the Development of Japa­
nese Capitalism
Problems in the European Feudal Society
Commercial Management in Early
Modern Time
Transplanted and Traditional Industry in
the Formative Process of Japanese Capi­talismProblems in the Economic History of the
Period after World War I
Population in Economic History
The Formation of the World Economy
The 16th & 17th Centuries as seen by
Socio-Economic History
The Role of the Central Bank in Indus­
trialization
Problems of Capital Export
Cities and Industrialization
Industrialization and Education
Society & Economy in the Inter-War
PeriodNew Approaches to the Socio-Economic
History of the Tokugawa Period
Energy and Economic Development
In Search of a Method of Socio­
Economic History
Asian Economic Development and theInternational Environment at the begin­ning of the 20th Century
The Japanese Economy in the 1930s
World Capitalism and Asian Immigrants
Industrialization and Transportation
The Weaving Industry and the Landlord
System in the Process oflndustrialization
The Formation and Structure of Modern
Asian Trade
Japanese Capitalism and its Colonies

to present papers. From the 18th Convention in 1949 at Hitotsubashi University, thedual format of free and set themes was adopted and this style has been continued to date.
The publication of the journal "Socio-Economic History" has from the beginningbeen the major achievement of the Society. The first issue of "Socio-Economic History"
was published in May 1931, and had 264 pages, just five and a·half months after theinaugural general meeting of the Society. The first volume was quarterly, but from the-6-second volume it became monthly. This is especially noteworthy in view of the heavy
burden of work involved, particularly during the war.
The last edition in the prewar period ("The Socio-Economic History", Vol.19, No.9)
was published in November, 1944. All the manuscript for No.IO and for the combined
issue of 11 and 12 had been edited and were at the printer's, but unfortunately thesewere all destroyed in a large fire following an air raid. This led tQ an inevitable gap in the
publication of the journal. As I turn the Vol.19, No.9, an issue of less than 50 pages
badly printed on coarse paper, I am moved by tenacious enthusiasm of those involved.
The reorganization of the Society began almost at once, the first postwar meeting
being held at Waseda University on Decemberl,1945. The leading spirits were Toshi­
aki OKUBO, Shohei TAKAMURA, Matakichi RABARA, Toshio FURUSHIMA,
Shiro MASUDA, Tomoo MATSUDA and Yoshitaka KOMATSU. Since shortage offunds and materials meant that they were not able to restart "The Socio-Economic His­
tory", they concentrated on the revival of the national conventions. Publication started
again in November 1948 (Vol.15, No.I). It was published on a quarterly basis, but irre­
gular intervals between issues reveal the difficulties of this time. It became bimonthly
from Vol.17 onward.
"The Socio-Economic History" has now reached its fifty-first volumes and totals 430
issues. The titles of all the articles are listed in "The 50 Year History of the Socio­
Economic History Society", published in October, 1984 as part of the fiftieth anniver­sary of the Society. In general articles concentrate on Japan, China, Western Europe
and the United-States, but some deal with Korea, Northern Asia, Southeast Asia, theMiddle East, Russia, Northern and Eastern Europe, Central and South America andOceania. They mainly cover economic history, but also relate to various fields such aspolitical history, history of thought, and folklore studies. These 430 issues of "TheSocio-Economic History" are proof that the Society has held to its original intention ofproviding a forum where various branches of historical studies could meet.
V

At the time of its establishment the Society had some members and by�940 this had
increased to nearly 800. At present, there are over 1,000 members, including an astonis­
hing number from related fields. Many members have worked on primary materials
from other countries and achieved recognition from scholars there. The standard ofwork seems to be high compared with that of the prewar period. Although we have goodreason to congratulate ourselves on the success of our Society over the past years, howe­ver, a word of warning must be given. Some researchers are intent on pursing excellencein a narrow field without apparently being aware of the need for a wider view, or a cons­
pectus of their subject. There are dangers of being'unable to see the wood for the trees'.
These dangers are always present in any academic field. We must warn young scholarsof the dangers of such metods, which can only alienate our Society from the rest ofsociety.
There may be no need to quote Marx to point out that specialization creates aliena­
tion. The social sciences should try to restore the humanity to scholarship. Recently, ho--7-

wever, the extreme specialization of the social sciences has if anything come to increase
our feeling of alienation. We must fight against this.
It was over fifty years ago that the founders of our Society first advocated the need fora high-level and side-ranging forum for history. We cannot but admire their foresight.
We must confirm anew the significance of socio-ecomonic history as a method of
approach.
* Professor ofWaseda University-8-

THE JAPAN ACCOUNTING ASSOCIATIONThe 43rd Annual Convention of the Japan Accounting Association, with some 800
participants, was held at Chuo University, Tokyo, from May 23 to 26, 1984, the Associa­
tion received Special Committee Reports including "A Review of Auditing Standards"(Chaired by Masaatsu TAKADA, Kobe University) and "Studies in the Institutional
History of Financial Statements" (Chaired by Kiyoshi KUROSAWA, Yokohama Na­
tional University), as well as Study Group Reports: "Studies in Basic Accounting
Concepts" (Headed by Yasuichi SAKAMOTO, Osaka Gakuin University) and "Studies
in Segment Reports" (Headed by Kazuaki SUEO, Kwansei Gakuin University), fol­
lowed by agreed theme reports and its round-table discussions, panel discussions, andunagreed theme reports.
The panel discussions on the following two themes were the most characteristic
events of the Convention: "What Should be the Contents of Accounting Education in
University?" (Moderator: Eiichiro OGURA, Shiga University; Keynote reporter:
Shigeo AOKI, Waseda University; Panelists: Kenji AIZAKI, Yokohama National
University, Hiroshi KAWAKITA, Certified Public Accountant, and Masugoro
TAKEUCHI, Fuji Color Hanbai Co.) and "What Should be Ethics in Accounting
Information?" (Moderator: Hiroaki WAKUTA, Toyo University; Keynote Reporter:
Kaichi KIUCHI, Otemon Gakuin University; Panelists: Masao OYAMA, Yokohama
National University, Masaatsu TAKADA, Kobe University, and Akira FUSHIMI,
Certified Public Accountant). The aim of the first was to get opinions from an account­ing scholar, a certified public accountant and a bushiness accountant as to accounting
education in university in this changing society, and the second, to illustrate the re­sponsibility of accountants who process information in this highly qualified informationsociety.
Should accounting theory be reformed given the revolution in information technolo­
gy now upon us? Thus, "Continuity and Change in Accounting" was set up as theagreed theme of the meeting. Reports were given on the two sub-themes: 1)"Continuity and Change in Accounting Research Methodology: in order to deepen Ac­
counting Theory" (Chaired by Ryuji TAKEDA, Kobe University) and 2) "Continuity
and Change in the Highly Qualified Information Society: What is Useful Accounting
Information?" (Chaired by Hiroshi YOSHIDA, Kobe University of Commerce).
1) Noriyuki SUGIMOTO (Tohoku University) presented a paper, "A Semiotic Ap­
proach to Basic Accounting Structure". He insists that business accounting system
based on the mechanism of a double-entry bookkeeping is essentially a language orsymbol system and thus a semantic consideration into accounting should beemphasized. That is, it should be clarified how accountants and the users of accounting
information perform language activities in the process of thought, when they prepare,communicate, and utilize accounting reports. In his report, "The Operationalism in the-9-Accounting Theory", Jin-ichiro MURAKAMI (Ryukoku University) argued that ac­
counting theory need to be constructed on the basis of operationalism, namely acommon philosophy found among various disciplines. The development of accounting
theory may be realized by introducing new concepts into its scope and it has recently re­sulted in accounting information system, electronic data processing system, decision ac­
counting system, etc. Youichi KATAOKA (Tokyo University of Science) read his
paper, "Research Methodology and Deepenness of Accounting Theory". The objects ofresearch on accounting theory are accounting phenomena as custom or institution that
occurs in accounting institution. The theory focusses, in particular, on those accounting
phenomena of no uniformity. Pure accounting theory directs attention to pure account­ing phenomena of uniformity that comes into existence by removing institutional
attributes. He stresses this pure theory is normative as well as descriptive. The norma­tive nature is based on axiom and thus an axiomatic approach to accounting theory
should deepen accounting theory. Akira YOSHIDA (Yokohama National University),in his report, "An Approach to a Development of Management Accounting
Information", explicated the function and characteristic of management accounting in­formation connected with capital budgeting in accordance with the difinition of account­ing in "A Statement of Basic Accounting Theory" by the American Accounting
Association. It is necessary to examine not only the theory of the traditional accounting
system but also management theory, behavioral scinces including decision theory,
finance, and information theory, and to establish the framework that integrates them all
systematically in order to encourage further development of the theory of management
accounting information.
2) Hisao ENDO (Yokohama City University), in his paper, "The Proposal of a New Ac­
counting Framework", proposed the duality principle underlying institutional
accounting. It can also make this accounting an open system, because its function may
be logically magnified to involve the logic of information processing. The succession of
the principle and open-systematization urge the development of accounting. From his
point of view, accounting theory such as inflation accounting, lease accounting, humanresource accounting may be included in a single large framework. He also adovocates aform of the disclosure of earnings forecasts. In institutional accounting, however, heholds that the determination and report of disposable income is the most important andthat other accounting is nothing but a supplement. Misao SEKIGUCHI (Keio
University) presented a paper "On the Availability of Accounting Information within aCompany's Information System". Here the information system should fulfill two
requirements: retaining each dispersed data-base and developing programs, so as tosupply the information that each level of managers needs. Furthermore, he points outthat the usefulness of management accounting information is maintained not due tobeing self-contained as it used to be but to a potential combination of partial, fragmen­tary information based on the advancement of information processing techniques.
Masatoshi HIRATA (Seinan Gakuin University) read "Development of Accounting
Information System and the Role of Decision Support System". He considers that the-10-new form of accounting information system in the office automation age may be intelli­gent accounting machine. The system includes operating systems that connect bothdata-base and model-base and it functions as decision support system (DSS). He sug­gests DSS should contribute to the future development of accounting system with a new
faculty of forecasts that meets various demands of highly qualified information society.
Minoru MORI (Kagawa University), in his report, "The Development of Attest Func­tion in an Information Society'\ proposed widening audit function in proportion thatthe scope of audit objects is enlarged to contain not only rigid verifiable information but
also soft information based on estimation or judgement. As a result, the audit of infor­
mation comes to cover the following three: the general audit regarding the reliability of
information system per se, the specified audit concerning various information producedby the system and continuous audit realizing a combination of information audit andactual-state audit. Then the concept of audit should have certain amount of flexibility toallow different levels of assurances of reliability, depending on the objective of individu­
al information.
(Toshio IINO)-11-

THE AGRARIAN HISTORY SOCIETY
The Agrarian Bistory Society consists of four sections, these are theory, current
economic analysis, economic history of Japan and economic histories of foreigncountries. The national conferences of 1984, held in the spring and autumn, were con­cerned with the theory of capitalism.
The National Conference, Spring 1984
This was held at the University of Tokyo on 30th of June, 1984. Shinichi KUBO
(Kanto Gakuin University) took the chair, and two papers were read under the themeof "Reorganization of'Cold War' System and Foreign Expansion of Japanese Capital".
The first paper read by Minoru SEKISHITA (Ritsumeikan University) was entitled
Economic Friction between the U.S.-Japan and the U.S. as a Market for JapaneseEnterprises. As the main cause of the U.S.-Japan friction SEKISHITA singled out trade
and trade-oriented Japanese industrial structure. Even in the case of direct investment
most of the capital is invested in commerce closely related to trade. The investment in
manufacture notably increased recently is nothing but commercial investment
disguised. SEKISHIMA pointed out that the friction was a natural product of the politi­
cal and economic reorganization of the U.S.-Japan relations during the decade of1970's. Resolution of the economic problem, becomes inevitably a political matter,
which forces Japan to yield to the United States.
Hideo KOBAYASHI (Komazawa University) read the second paper, "Japanese-East
Aisan Relations as seen through the Expansion of Japanese Enterprises". KOBAY­ASHI put a light on the NICs in East Aisa which attained economic independence under
the impact of the Vietnam War to form "The East Asian Economic Area" with Japan
within the sphere of the U.S. influence. Being defeated in the Vietnam War, the UnitedStates succeeded in stifling Asian nationalism and bringing out counter-revolutionary
dictatorial governments which had strong propensity to push forward economic
development.
The Autumn National Conference
The autumn conference was held at Fukushima University on 13th and 14th ofOctober, 1984. The theme of the symposium was "Agriculture and Landownership at
the new stage of Capitalism". The chairmen were Nobuhiro UEHARA (Shizuoka
University) and Satoshi NIHEI (Senshu University). Three papers were read as follows;(1) "The New Stage of Post War Heavy Petro-Chemical Industry and Capital Invest­
ment" by Shinichi KUBO (Kantogakuin University), (2) "The Present American Agri­culture and Agri-Food Strategy" by Issin NAKANO (Kyoto University), (3) "The Pre­sent Japanese Agriculture - A Plan of Reorganization" by Toshihoko ISOBE (Chiba
University).
In the first paper KUBO pointed out that the post war heavy petro-chemical industry
was in its second stage since in the early 1970's when world wide economic disturbances-12-were caused by dollar and oil problems with the result of disolution of the "Cold W ar"system. The main feature of the second stage which marks it off from the first is micro­
electronics (ME) investment. Different from plant and equipment investment in thefirst stage, ME investment or ME production system cannot develop unless the Ameri­can market is available. KUBO concluded that the need of export expansion would
make Japan more dependent on the United States.
NAKANO, the second speaker, described the present situation of American agricul­
ture and analyzed why and how a big change had been staged there since early 1970's.
According to NAKANO, the agri-food strategy which aimed to make rural products as
profitable as industrial ones took the place of the traditional agricultural policy of price­support and production-control. As a result, farm land invited speculation. Unfortunate­
ly this encouraged farmers to take on enormous liabilities caused by increased
mechanization.
Turning to Japan, ISOBE, the final speaker, analyzed the present situation, and pre­sented the future prospects of Japanese agriculture. ISOBE regards as positive thoseultra-small farmers, half depending on side jobs, in developing a modern style offarming. He claimed that the national policies of the past never acted as promoters of in­dependent agricultural development. It is these ultra-small farmers, ISOBE insisted,
who could save Japanese agriculture from crisis by implementing collective farming by
their own efforts independent of landownership or asset-differences.
In the discussions which followed three people raised questions with KUBO. Katsuaki
ONISHI (Senshu University) asked about the difference between the first stage and thesecond. Miyoko SHIMAZAKI (Japan College of Social W elfare) and Kiyoko IMURA(Keio University) expressed their wonder if the turnover of the key industry, from steel
to ME, could be regarded as that of reproduction structure. To this question KUBO ad­
mitted that his hypothesis was yet far from being elaborated.
Shigeru USAMI (Utsunomiya University) asked NAKANO, about the relation be­
tween the fall of agricultural income and the rise of land rent. Kenji HORIGUCHI(Tokyo University of Agriculture) commented that NAKANO should have stressedmore the role of finance capital in retarding agricultural development. Goro MIY ASA­
KA (North Japan College) asked NAKANO to explain the effects and limits of the U.S.
agri-food strategy. To this NAKANO answered that the U.S. made frantic efforts to con­trol the world agricultural products through cereal majors primarily because they knew
the effects and limits of that strategy.
Nigo HANADA (Kyushu University) asked ISOBE about the relation between low
labour wage and low price of agricultural products. USAMI expressed doubt at the sig­
nificance of elaborated control which ISOBE emphasized as promoter of agricultural
innovation, and pointed out that after 1967 the control could not be elaborated any
more. Finally Masaharu TOKIW A (Keio University) asked how the reactions of the
farmers against national agricultural policies should be judged and how and by whomcollective farming was developed. To this ISOBE stressed the importance of farmers'
own efforts and activities to develop independent agriculture regardless of national
policies.
(Junko NISHIKAWA)-13-

THE AGRICULTURAL ECONOMIC SOCIETY OF JAPANThe 1984 annual convention of the Agricultural Economic Society of Japan was heldat Nihon University on April 3 and 4. The common theme on April 3 was "Demand andSupply of Agricultural Products and their Adjustment Problems". The selection of thistheme reflects the serious situation of the over-supply of agricultual products in recent
years.
The first report was presented by Masaru MORISHIMA (The University of Tokyo)
under the title of "Shifts of Food Demand Curve�nd Estimations of Food Demand byAge". In the first half of the report, he dealt with the shifts of demand curve during theperiod of 1960 - 1982, and clarified the following two points: 1) Until the oil crisis in
1973, the food demand curve had rapidly shifted to the right due to the sharp increase ofincome; 2) after the oil crisis, people's income has risen while food prices have been
lowered, but food demand has not increased. It means that food demand curve has shift­
ed toward the left since 1973.
In the latter half of the report, he estimated food demand by household members ofdifferent ages for two years of 1973 and 1982 by utilizing the'data of individual
households', included in the Family Income and Expenditure Survey (Prime Minister's
Office). He concluded that 1) food demand of children of 9 to 17 of age, increased in thepast 10 years; 2) food demand of persons of the ages over 49 also increased; but 3) fooddemand of persons of 18 to 48 diminished. He stressed that the decrease in demand forfoods is related to age factors.
The second report was given by Kunio TAKEN AKA (Tokyo University ofAgriculture). His theme was "Trends in Supply and Demand of Rice and the Problemsof Production Adjustment". He reported on the development of the'Program for
Reorganized Utilization of Paddy Fields'which began in 1971, as classified by periods.
His report focused on the period from 1978 to 1983. As case studies, he picked up
Toyama Prefecture which is a'paddy monocropping area'and Saitama Prefecture, asuburban agricultural area. By using the Lorenz curve, he compared the two prefecturesin terms of the allocation made by the government to local districts of land areas for di­version from paddy production. In Toyama Prefecture, the allocation used to be carriedout even, and inspite of the higher diversion rate applied due to the result of more seri­
ous overproduction of rice, it has become move even. On the other hand, in Saitama
Prefecture, where the allocation was made unevenly at the outset than that in Toyama,
the allocation has become more uneven. He showed that such situations had resulted
from the differences of agricultural structure and geographical conditions in these two
prefectures.
The third report was given by Tadashi TEMMA (Hokkaido University) under thetheme of "Demand and Supply Adjustment of the Drinking and Manufactured Milk
Markets". He pointed out a chaotic demand situation, as revealed in a fact that, while
there exists oversupply and a resulting price decline in the market of raw milk for
drinking, the shortage of raw milk for processing is so high that the demand of dairy-14-

products companies could not be met. Explaining such a chaotic situation, he specified
various causes, such as 1) the recession of oligopolistic system in milk collection, which
has beem maintained by major dairy products companies; 2) increase of popularity of
non-adjusted milk for drinking; 3) expansion of price differences between raw milk for
drinking and the one for processing; 4) reduction in the financial assistance for the'deficiency payment policy' of raw milk for processing; 5) increase of milk productivity,in the aftermath of the enforcement of adjustment policy on rice production; 6) increaseof imported dairy products through trade liberalization; 7) rapid growth of large scalespecialized dairy farms in Hokkaido.
He stated that demand and supply adjustment has passed the stage of indirect adjust­ment by the'deficiency payment policy', and entered an era of direct adjustment byproducers organizations. Regarding this point, Tadashi SHIMAZU (Nihon University)commented on problems related with the establishment of a Central Milk Marketing
Board which would make the direct adjustment possible, and also on problems sur­rounding the introduction of pooling price system.
As the oversupply of agricultural products becomes a serious problem, farmers'
groups realize that the problems would not be solved just by demanding the government
to introduce measures to deal with the situation, and they now make efforts in carryingout voluntary adjustment on supply.
The fourth report was given by Tokuo MATSUMOTO (The Central Union of Agri­cultural Cooperatives) under theme of Problems of Adjustment of "Demand andSupply of Farm Products: the Issues mainly affect Vegetables". He reported on themethods of voluntary adjustment by farmers's Cooperatives on supply and the actual sit­uation after the adoption of such methods.
He classified various vegetables into several groups, by combining the following
factors, as presented in matrix, such as - price flexibility; income elasticity of demand;coefficients of fluctuation in yields per unit of land and coefficients of fluctuation in area
sown by items; and coefficient of area specialization in production by items. Then, in
consideration of the scale of production in each group and of the formation of specializedbusiness, he referred to the necessity and possibility of supply adjustment on each of thevegetables, and proposed preferable methods in carrying out control on supply.
In the discussions on these four reports, speakers emphasized - 1) the comparison
between adjustment by price and adjustment by other means; 2) conflict of interests
among parties involved; 3) where more emphasis should be placed, either on resource
allocation or income distribution; and 4) attention should be paid to a comprehensive
adjustment on all agricultural products, not only on a single product.
On April 4, 53 reports were presented.
The common theme for the 1985 annual convention, scheduled to be held at Shi­mane University, is "The Transition of Economy and Society and Problems of Rural
Population" .
(Yuzuru KATO)-15-

THE JAPAN ASSOCIATION FOR ASIAN POLITICAL
AND ECONOMIC STUDIESThe Association held the 20th National Conference at Nagoya University of Com­
merce on November 17 and 18, 1984. The main theme was "Poverty in Asia". The key­note speeches were made on this topic and group discussions followed. The first keynote
speech was made by Masaru YANAIHARA (Keio University) and the second by
Toshio WATANABE (University of Tsukuba). YANAIHARA traced Japanese immi­
gration policy to the extreme poverty which previously existed in Japan making Malthu­
sian theory of population seem relevant. The definition of poverty, however, is no
simple thing and not the same as inequity. Referring to G. Myrdal, he stated that history
will show us that the rich will get richer. International capital movements may bring thesame result unless rectified by proper policy. He pointed to some examples of projects
which required large capital but brought forth small increases in employment. He also
observed that some monoculture countries expanded primary exports at the cost of
domestic food production, a process which has tended to make these countries morefragile. WATANABE presented a model of development in which it was shown how themodern sector can grow rapidly by absorbing the redundant labor from traditional sec­
tors of both rural and urban areas. Increases in wages in the modern sector have led tohigher wage levels in traditional sectors. Japan has grown in this manner, followed by
Korea, Taiwan and other NICs. In the NICs a "compressed development process" is ob­
served since the NICs are improving standards of living in a shorter time span. Coun­
tries like the Philippines, however, have failed to utilize this mechanism.
Responding to these keynote reports, Kiminaru YONEDA (Institute of Developing
Economies) presented some data on the relationship between economic development
and poverty and concluded that Kuznets'inverse U shape curve is generally relevant todeveloping countries.
LIU Jin Ching (Tokyo University of Economics) however disagreed saying thatwhile the Kuznets curve is generally valid in developed countries, it is not in the devel­
oping countries. LIU then asked what income level corresponds to the turning point of
Kuznets. He also expressed scepticism about the scientific measurement of absolute
poverty.
Yuzuru OUCHI (Institute of Developing Economies) surveyed poverty in the vii­
lages of South Asia and raised some practical problems in the policy implementation ofIndia and Bangladesh. OUCHI pointed to the need to understand differences in thereponses of different peoples. To that end, there is a need to survey different environ­ments and their relations to vested interests.
Reijiro TOBA (Yomiuri Shimbun) investigated the relationship between poverty andthe despotic political system in South and South East Asia. In retrospect, TOBA noted
many despotic governments in Asia which resulted in the poverty of people. TOBA ob­
served no serious efforts toward the solution of fundamental issues such as land
reformation. More drastic change will be needed sooner or later.
-16-

Tadashi IIJIMA (Asia College) raised a fundamental question as to how to measure
the degree of poverty. GNP, standard of living, and the physical quality of life index(PQLI) were all discussed. IIJIMA presented one method of indexation based on calorie
intake which he based on a survey in Nepal.
Shigemi CHIBA (Chiba Institute of Management) reported on the sixth five-yearplan of Nepal, with particular reference to its employment strategy. CHIBA suggested
some practical remedies for improving the quality of labour and for improving educa­
tional assistance programs.
Noboru YAMAMOTO (Soka University) offered insight into the broad subject ofpoverty, referring to solutions, mechanisms, and psychological aspects. In some Asian
countries, industry-biased growth was undertaken. Foreign capital inflow wasencouraged. He discussed whether support should be given to indigenous capital. How
should employment be increased in the modern sectors? How should the population becontrolled? How should land reform be implemented? When are the points to be exam­
ined in the large projects? These questions should be answered but the solution is by nomeans simple.
Toshinobu KATO (Asia College) presented an analytical model in which it was im­
portant for eight indices to grow in balance. They represent independence, integration,system openness, democracy, industrialization, urbanization, knowledge intensity, andequality. Comparison of different countries will be possible by checking these eightitems and drawing and octahedron with time as a third dimension.
Besides papers addressing this main theme, the following papers were also read.
Yoko MATSU DO (Japan Society for Promotion of Science) reported on socialchange and family structure in China since the Liberation. Based on data collected by
Chinese scholars and Matsudo herself, it was pointed out that, while the nuclear familyis the popular pattern in the urban area, there is a tendency towards extended families inrural areas. Impacts of various Chinese policies on the determinants of family size werealso analized.
Susumu YAMAMOTO (Nagoya University) reported on commodity marketing in
the Ming-Chin periods, a subject the reporter described as a relatively unexplored areaof study. He criticized Mio KISHIMOTO who emphasized the marketing of silver
before the marketing of commodities.YAMAMOTO, instead stressed the regional dif­ferentials of productivity as a cause of commodity flows.
Minoru NAMBU (Kobe University of Commerce) reported on inflation in China.
Since 1976 China has begun to reveal how inflationay pressure has been present and re­sulted in strict price control policies. Worth noting is the national financial deficit in
1979-80 and in 1981 which brought about tight fiscal control. NAMBU called attention
to the need for raising the productivity to offset increases in material costs.
Kenji FURUSAWA (Osaka City University) reported on the problems of pricing Chi­nese manufacturing products. While the need for the consistent price system aiming at
fair rewards to the producers is urgent, hasty top-down administration will not solve theproblem. FURUSAWA focused on manufactures and searched for a comprehensive-17-

and stepwise solution.
Yosuke FUKKE (Tanjun Sari Agricultural Institute) reported on his agricultural
field survey conducted in Western Java. FUKKE investigated remote rural villages withparticular reference to land ownership and farm scale issues. Simultaneously he has also
explored the living conditions of part-time urban workers from these villages.
Yukio IKEMOTO (Institute of Developing Economies) reported on impoverishment
and increasing inequity in Malaysia. IKEMOTO noted the failure of industries in the de­veloping countries to create the employment required by the growing population. After
examining empirical studies in Malaysia, however, IKEMOTO found an exaggerationof poverty. These studies had two defects in common. The one was the inter-temporalcomparability and the other was the measurement of welfare. If family size differs.
family income based on different household expenditure surveys imply different
standards.
Teruhiko ONO (Hitotsubashi University) explored the relation between the wage
market and the new agricultural policy in India. He presented an analysis of the Green
Revolution in the Indian context. The wages of employed farmers were not subject tomarket forces but a function of land productivity, which is fixed in the long-run. This
wage rigidity accelerated mechanization, which tends to aggravate poverty in the peasanteconomy.
Shoji NAKAMURA (Ryukoku University) raised the problem of measurement
caused by the introduction of non-economic factors. This was based on his own experi­ence of surveying South Asian economies. He called attention to the importance ofhuman relations in a community. The degree of poverty should be small, even thoughmoney income is low, if there is no economic dependence on others. Policy measures,
therefore should be formulated to reduce economic dependence and generate a diversi­
fled and independent life style.
(Tsuneo NAKAUCHI)-18-

JAPAN SOCIETY FOR THE STUDY OF BUSINESSADMINISTRATIONThe Japan Society for the Study of Business Administration held its 58th national
convention at Takushoku University in Tokyo from 4 to 7 September 1984. Nine papers
and a symposium were devoted to the unified theme "Government and Business"along with other 30 papers on a b,road range of issues.
This year's unified theme, "Government and Business", attracted wide attention
and a lively debate. Even since the oil crisis of 1973, the developed capitalist countries,
notably the Reagan administration of the United States since 1981, and Britain's Thatch­er government since 1979, have sought to find a way out of a deepening global economiccrisis by revamping their economies. They have abandoned the Keynesian policies that
had piled up enormous budget deficits. Instead they turned toward monetarism, supply­
side economics, public economics (the doctrine of "small government") and introduced
a series of policies aimed at revitalizing corporate activity through government deregula­tion and privatization of state-owned enterprises. Under the Nakasone government,
Japan has been no exception. The establishment of an Ad Hoc Administrative ResearchCouncil (known by its Japanese acronym Rincho), an organ which effectively bypassed
and undermined the process of parliamentary democracy, paved the way for an array of
extremely drastic policy decisions promoted by the business community, such as theplanned partitioning and privatization of the Japan National Railways and the scheduled
denationalization and deregulation of the Nippon Telegraph and Telephone Public
Corporation.
Viewed against this backdrop, it was most timely that the problem of government­
business relationship was chosen as the unified theme. The reports addressing this main
topic could be divided into either of the two following categories: one that attempted acomprehensive and theoretical discussion of the government-businnes relationship andthe other that offered concrete analyses of particular aspects of the whole problem, suchas reform of public enterprises and regulation of public utilities.
In the first category, Yasuzumi�WAO (Chuo University) advanced a class-oriented
discussion of the significance of the state and its control as a premise for any discussionof control of corporate activity. And based on this examination, he pointed out thepolitical significance in the present-day context of controlling the activities of big busi­
ness and multinational corporations. IWAO also characterized the role of Rincho's ad­
ministrative reforms as reactionary and called for eradication of collusive ties among
ranking politicians, business leaders and the bureaucracy.
Hiroshi SASAKI (Kobe University), in his comprehensive survey of thegovernment-business relationship, cited the expansion of the public or non-market
sector of the economy as a recent characteristic and criticized Rincho's disregard for
positive roles that could be played by government. Drawing on past experience in theWestern countries, SASAKI made concrete proposals on the methods and institutional-19-

vehicles for pursuing alternative relationships between government and the private
sector.
Kyoichi MAEKAWA (Doshisha University) raised the problem of industrial policy
and business management in Japan, the United States and Western Europe. Placing the
problem in the context of an intensifying crisis of business regulation under statemonopoly capitalism, MAEKAWA analyzed the causes and forms of such regulationand identified actual means employed to effect changes of reactionary nature to the ex­
isting regulation. He also made a reference to the limits of Japanese management andthe widely circulated view that the Japanese economy is "faring well", and discussed theimplications of Japan's overseas economic expansion and the militarization of its
economy.
Yukio NOZAKI (Aichi University) addressed the problem of management of bothpublic (state-run) and private enterprises through a study of business management in
China. NOZAKI provided insights into the state-of-the-art of business management inpost-Cultural Revolution China, describing how its state-run enterprises have been in­
fused with capitalist forms of financial, labor and production management techniques.
By outlining some of the major problems for Chinese management, NOZAKI pointed
out the common management problems shared by state-run socialist enterprises andcapitalist enterprises alike.
Kinji NAKAYAMA (Nihon University) focused on the historical development ofgoverment policy on small business. NAKAYAMA argued that the implementation ofuniquely Japanese small business modernization policies since the end of World War II
was aimed precisely to bring small business units into alignment under big business in
preparation for the ensuring period of rapid economic growth. He then contrasted thisagainst the more recent small business policies effected amid the structural (or non­cyclical) business slump that began in the 1970s. This latterday version, introduced withthe aid of various policy concepts such as "knowledge intensification ", "venture busi­
ness" and "appropriate technology ", was described by NAKAYAMA as creating real
problems because it contained mutually incompatible elements.
Turning now to the second category of contributions, Masaichi YAMAMOTO (Oita
University) presented a theoretical discussion of what roll the principle of competition
should play with respect to public enterprises. The'revamping of public enterprises,
YAMAMOTO argued, should be effected on the basis of retaining, in principle, thepublic nature of their ownership and management. YAMAMOTO went on to criticize
Rincho's recommendations, saying public enterprises can become a viable operation if
reforms are effected through their expansion into new, more promising fields, increased
public funding, streamlining and democratization of their management and establish­
ment of public regulatory agencies based on the principle of equitable representation.
Kunio OSHIMA (Aoyama Gakuin University) pondered the issue of reform of
public ente�prises in more concrete terms by examining the case of the Janapese Nation­
al Railways. Having analyzed vast quantities of data to close in on the true causes of the
JNR's financial woes, OSHIMA made a detailed exposition of the bias inherent in
Rincho's recommendations. Concluding that the substance of Rincho's reports was-20-dictated by the logic and interests of big business and could run counter to the interestsof the working population, he forwarded concrete proposals for revamping the JNR.
Akira TAKAYANAGI (University of Tsukuba), meanwhile, made a historicalreview of government regulation of public utilities in the United States, He then traced
the more recent trends towards deregulation beginning in the 1970s, and indicated his
approval of such deregulation after listing - 1) increased efficiency through freecompetition, 2) diminishing monopoly of operation by the public utilities as a result oftechnological innovation, and 3) altered socio-economic meaning of public services
brought about by social and technological changes - as grounds for his affirmation.
Satoshi UEDA (Osaka University of Economics), on the other hand, placed the prob­
lem of US public enterprises and deregulation in a broader perspective of giant corporate
failures and government bail-outs since the 1970s as exemplified by the case of Penn
Central and the establishment of the government-sponsored Amtrak corporation.
UEDA thus shed light on an important aspect of the government-business relationshipin the United States which cannot be confined merely to the problem of deregulation.
All in all, this year's convention achieved血jor progress by illuminating a broad
range of issues involved in the government-business refationship through the above­
mentioned discussion papers and the symposium. It was particularly noteworthy thatcriticism centered on Rincho's ongoing campaign of privatization.
The next national convention is scheduled to be held from 10 to 13 September 1985
at Matsuyama Commercial University in Ehime. The unified theme has been deter­
mined as "New Trends in the Contemporary Study of Business Administration".
(Yasuo KAKURAI)-21-

JAPAN BUSINESS ENGLISH ASSOCIATION (JBEA)The 1984 (44th) annual convention of Japan Business English Association was heldat The Commerce Department of Kurume University in Fukuoka Prefecture on
November 10th and 11th, 1984. The Association will publish "Nippon Shogyo Eigo
Gakkai Kenkyu Nempo" (The JBEA Annual Studies) in October, 1985 containing theeleven papers presented at the 44th annual convention.
The subjects and resumes of these papers and their reporters are as under:(1) "A study of Semantic Analyses on Business English" by Hiroshi SAKAI (Kansai
Junior College of Foreign Languages): Semantics, as the scientific study of meaning inlanguage, is central to the study of linguistics. The basic purpose of language is tocommunicate, and the ultimate purpose of vocal sounds and grammatical rules is theconstruction of meaningful utterances. Among the analyses of semantics, the reporterput the emphasis on the important concept of'presupposition' which has been contro­
versial in semantics. In the process of investigating the concept of'presupposition', it isnecessary to suppose the existence of certain features, namely'factual','non-factual'and'counter-factual';'factual' and'counter-factual' features represent an assumptionof truth and falsehood respectively, and'non-factual' feature represents a lack of com­mitment either to truth or to falsehood.
(2) "An Object and Method of the Study of Business Communication" by Etsuo SHI­MIZU (Kansai University of Foreign Studies): The Chief defect of most previous lan­
guage researches - that of Business English included - is that things and reality havebeen conceived only as objects or as forms of contemplation, but neither as sensuous
human activity and practice, nor subjectively. Whether the Study of Business English
can be attributed to "Science" is not a theoretical but a practical question. The Study ofBusiness English in terms of a practical science has as its inevitable duty to bring forward
the fundamental significance of "communicaion for the exchange of messages".
(3) "A Trial Study on Business English Vocabulary - The Frequency of Fundamental
Words, Meanings and Uses - " by Akira KADOTA (Kagoshima Prefectural JuniorCollege): In teaching Business English to non-English-speaking students, teachers
must find the most effective way to arrange the teaching material. Selecting the essential
vocabulary is also one of the most important tasks. This is a report on a trial study on thefrequency with which various words occur in model letters of Business English in a text­
book published in Britain, and also on the frequency of various meanings and uses ofcertain fundamental words. Comparison is made between the results of the above andthe corresponding words in "A General Service List of English Words" by MichaelWest.
(4) "Significance of Linguistic Study of Change in the Wordings of Lloyd's Policies" by
Takao NORISADA (Kwansei Gakuin University): Lloyd's 1779 S.G. Policy is said tobe archaic and singular. Te archaism comes from conservatism in legal expression andsi.ngularity from the fact that the S.G. Policy is the patchwork of precedents, a great
number of which were made out during the fifteen and sixteen centuries. This article is-22-to set these policies against their English linguistic and stylistic background and to trace
the developments in the wording and changes in style and grammer, which have to betaken into account by the present reader if he is to arrive at a proper understanding ofthem.
(5) "What is the Balance oflnternational Payment?" by Tadashi KATO (Kansai Uni­
versity of Foreign Studies): This comprises the Balance of Current Account composedof Balance of Trade-Visible and Invisible, and Unrequired Transfer Balance: the balanceof capital transactions consisting of long and short-term capital transactions, the basicbalance and net errors and omissions, the overall balance of payments as well as the for­eign reserve and related items.
(6) "A comparative Approach to Decision Making Behavior in the Japanese and theAmerican Management" by Tetsuya WADA (Mukogawa Women's University): This
paper attempts to show the important role of decision making as an organizational beha­vior in business management, and secondly to give readers a basis for analyzing how thedeterminants of individual and group behavior enable members of any organization toaccommodate different and varying types of organizational environments. Even busi­
ness letter writing, as every day routine work, must be made by decision making practicein the trading house.
(7) "An Empirical Analysis on the Marketing Strategies of Japanese Manufacturing
Firms in the U.S.A." by Shigeto MOROKAMI (Meiji University): The major findingsof the managerial performances of Japanese companies are as follows:
1. Firms with high sales volume are controlled more strongly by their parent firms ascompared with low-sales companies.
2. Effective use of external information sources seem to be very important to the success of Japanese business in U.S.A.
(8) "Products Liability and Long-arm Statutes - relating to exports to U.S.A." - by
Hiromu NAKAMURA (Doshisha University): Suppose A, a Japanese manufacturer
sold his product to B, a Japanese exporter, and B exported it to C, an American
importer, and C resold it to D, a retailer, and D finally resold it to E, a consumer, and E
suffered bodily injury and property damage owing to a defect existed in the product, E
would bring a suit to a state court against A, B, C and D for damages. This paper deals
with two problems arising there from, i.e. (1) products liability and (2) a court's exerciseof personal jurisdiction.
(9) "On the Consturction of'be worth (while) -ing' by Hideyoshi ARAKI (Nagoya
University of Commerce): The reporter quotes examples of sentences using the word
'worth'from various dictionaries and grammer books, and indicates his findings regard­
ing the problems.
(lO)"A Comparative Study of'Manual fo Commercial Correspondence (fourth andfifth ed.)" by Hiroharu FUSHITA (Sharp Corporation): The reporter points out that in
the 4th edition of 1948 the author recommended a simple literary style,'dignified with­out being pompous', while in the 5th edition of 1967 by G. Hume and J.E. Bailey the co­revisers recommended a simple literary style,'succinct yet comprehensive in meaning.'(ll)"Computational Analysis of Senior Students' English Vocabulary - with special-23-reference to English Textbooks based on both a Former and Current Course of Studyー" by Seiji MATSUMOTO (Kitakyushu University): From 1982 a current course of
study of English at senior high schools in Japan calls for the number of English words
ranging from 1400 to 1900, while a former course of study called for that the English
words ranging from 2400 to 3600. To examine the actual number of English words usedin current textbooks, the reporter has selected fifteen current English textbooks, and all
the English words in them have been put in a computer. As a results, the number of En­
glish words in them has been found about 30 percent smaller than that of English words
in former textbooks.
(Norio !WANE)-24-

BUSINESS HISTORY SOCIETY OF JAPANThe 20th Annual Conference of Business History of Japan was held at Chuo
University, Hachioji, Tokyo on 27th and 28th October 1984.
On the first day of the Conference, each session was divded into two. Of the ten
papers, seven were concerned with Japan, one with America and the other with
Australia. Mrs. Olive Checkland, as a foreign quest contributed a paper on "Japanese in­volvement with Engineering Enterprise in Britain, 1985-1914". Later we celeblated thetwentieth anniversary of our society. Dr. S.G. Checkland, Emeritus Professor of Glas­
gow University gave commemorative lecture on "Business Biography in United
Kingdom". Mr. Toyozaburo TANIGUCHI the president of TANIGUCHI Foundation
gave a special address before we were welcomed by Yoshitaro KAKIMURA the Hono­rary President, Mataji MIYAMOTO the adviser of our society, and Keiichiro
NAKAGAWA the President.
On the second day, we had a general conference under the agreed theme of "The His­
torical Formation of Modern Management - In Focussing Factory Management Issues-" introduced by Yukio YAMASHITA (Chuo University). This meeting was jointly
chaired by Tadakatsu INOUE (Kobe University) and Kesaji KOBAYASHI (Ryukoku
University). YAMASHITA emphasized the importance of the kind of management
which emerged and developed following the formation of modern industries after the
Industrial Revolution. He also illustrated the origin of scientific management with refer­ence to the sub-contracting system of U.K., American and Japan.
Firstly Yoshitaka SUZUKi (Tohoku University) presented a paper on "Had the sub­contract system had been influential in the industrial organization of 19th century
Britain?". SUZUKI referred several kinds of representative industries such as cotton,
woollen, iron, steel, mechanical-engineering and shipbuilding through the analysis of
their wage structure and relationship between employer and employee. Tatsuko
TAKEUCHI (Aichi Prefectural University) raised comments on further possibilities ofrelated matters to prove his assumption.
Secondly, Haruto SHIOMI (Nagoya Municipal University) presented a paper on"The transformation of American factory system and sub-contract system". He traced
an influence of British factory system into that of America in two ways (management
and operation) and classified three systems of 19th century American (cotton firm, ironfoundry and mechanical engineering). Kinzaburo SUNAGA (Kokugakuin University)commented the paper by examining the comparative cases of Japan and America.
Thirdly, Toshiaki ICCHOGHI (Hosei University) presented a paper on "The forma­tion of Modern Management of Japan and its Characteristic" with cases relating totextile, electrical engineering and auxiliary machines for the railways. He talked thechange of workers class status and payment in terms of technological development andmodernisation of companies. Katsuyuki OZAWA (Takachiho College of Commerce)
asked whether some evolutional progress of productive manegement woudl be neglect­
ed in relation with progress of factory management.
-25-

Fourthly Hiroshi TACHIBANA (Osaka Municipal University) presented a paper on"The Primitive Formation of Administrative management - from the managial point ofview -", by explaining the historical stages of administrative function under theories ofCharles Babbage, Andrew Ure and Robert Owen. Minoru HARADA (Kyushu
University) pointed the transient aspect of the subcontract system which was to be re­placed sooner or later by modern management. Further comments on the papers camefrom Yukio IMAKUBO (Saga University) and Tsuneo SASAKI (Musashi University),
who spoke of Germany and France.
During the discussion from the floor a number of interesting questions were raised.
At the end of discussion, the president NAKAGAWA compared the sub-contractsystem of U.K. and U.S.A. YAMASHITA as its conclusion pointed the significance of
this sort of studies concerned with development of modern management.
The Society's next annual conference witll be held on October 19 and 20, 1985 at
Ryukoku University at Kyoto.
The 2nd Conference of 3rd series of The International Conference on Business His­
tory (so called 'Fuji Conference') was held with the general support from TANIGUCHIFOUNDATION, on the subject of "Development of Managerial Enterprises" at the
Fuji Education Centre, Sizuoka Prefecture, between January 5 and 8, 1985.
Foreign guest scholars presented papers as follows; From U.S.A. A.D. Chandler Jr.
(Harvard University) and W. Lazonick presented "Managers, Families and Financiers"and "Strategy, Structure and Managerial Development in the United States and Britain"
respectively. From Germany, Hartmut Kaelble (Freie Universitat Berlin) spoken on"The Rise of the Managerial Enterprises in Germany, 1970-1930". The Representatives
from U.K. was T.R. Gourvish (University of East Anglia), "The Railways and the
Deveopment of Managerial Enterprises in Britain, 1950-1939" and from India, P.N. A.
Garwale (Educational Consultants, India Ltd.), "The Development of Managerial En­
terprises in India" and from Belgium, Herman Daems (Katholieke Universiteit,
Leuven), "Large Firms in Small Countries".
Japanese papers were as follows: Hiromasa MORIKAWA (Hosei University) as th.e
project leader, "Prerequisites for the Development of Managerial Capitalism -on thebasis of cases in prewar japan -", and Hirosuke DAITO (University of Tokyo),"Recruitment and Training of Middle Managers in Japan, 1900-1930" and Takao
SHIBA (Kyoto Industrial College), "A Comparative Study of the Managerial Structureof Two Japanese Shipbuilding Firms" were presented.
The theme of next Fuji Conference is "Sogoshosha and Its Foreign Equivalent" with
Hideki YOSHIHARA (Kobe University) as the project leader. The Proceeding of theFirst Conference of 3rd Series, "Business History of Shipping" jointly edited by Keii­
chiro NAKAGAWA (Aoyama Gakuin Univesity) and Shinichi YONEKAWA(Hitotsubashi University) was published by Tokyo University Press.
Our Society also published a book on "Twenty Years of Business History: The Busi­
ness History Society of Japan" and a Year Book of our Society in English, to bring oursociety's activities to the attention of overseas countries. Both books would be available
at the office of our society.
Besides these activities, local conferences of our society were held. There were nine
meetings at Kanto, seven at Kansai, and four at Nishi-Nippon, in Western Japan.
(Masami KITA)-26-

JAPAN SOCIETY OF BUSINESS MATHEMATICSThe 26th Annual Academic Meeting was held on June 2 and 3 in 1984 at the Interna­
tional Christian University. Five papers were subsequently published in the Annual
Report of the Japan Society of Business Mathematics.
Toshio TAKAGISHI and Hiroshi MATSUO (both from Chuo University) presented
a paper entitled "A Criterion for Selecting Investments in conditions of Uncertainty."
They designed a procedure for selecting investment projects based on their external
rates of return which fluctuate because of uncertain future cashflows, salvage values,
reinvestment rates of return, and life expectancy. On the assumption that the optimistic
and pessimistic values of these uncertain parameters are estimated, the procedure calcu­
lates the maximum and minimum rates of return for a project and combines them into
an index. Indices for investment projects are utilized to rank them according to
profitability.
Setsu OHNARI (Hitotsubashi University) presented a paper entitled " On the Equi­
librium of the Game with a Continum of Players". He analyzes relationships between adecision made at a point in time and a series of decisions made over a span of time. He
concludes that an optimal decision at each point in time is a constituent of a global opti­
mal policy over the time horizon.
Saburo KOBAYASHI (Aoyama Gakuin University) presented a paper entitled " The
Formulation of the Polynomial Expansion of a Probability Matrix." Utilizing a method
based on a generalized inverse and Sylvester's Theorem, he formulates a formula forfinding the polynomial expansion of a probability matrix. He raised several related prob­
lems and designed an approach to the solution of one of the problems.
Masatoshi KITAOKA (Kanagawa University) presented a paper entitled "An Algo­rithm for the Analysis of Signal Flow Graph Problems Based on Graph Theory. " Hefound some equations which can be used to discover a determinant for a network ex­
tracted from a signal flow graph.
Shoichi HYAKKAI (Japan Airlines) presented a paper entitled "Product Mix
Simulation: Pilot Model Building." He attacked managerial problems in an airline firmby utilizing simulation. Cost-volume-profit analysis was applied to a system in a simulat­
ed setting. This simulated model shed light on the impact of sales volumes and fares on
profits by individual routes and flights.
(Hiroshi MATSUO)-27-

JAPAN SOCIETY OF COMMERCIAL SCIENCES
Japan, politically, economically and culturally a highly centralized state, is used tolooking to Tokyo for advice and guidance. In recent years the regions of Japan have at­
tempted to be more independent, and have over the last decade become much more
powerful and influential. Each of them are looking for new and distinct ways to let theircommerce prosper.
Under these circumstancers, Japan Society of Commercial Sciences decided to maketheir special theme, for the 34th national annual convention, "New Development of Re­
gional Commerce". The convention was held at Otaru College of Commerce in Hok­kaido between June 1 and 3, 1984.
The following papers were presented,
A Study of Present State of Retail Activities with Special Reference to Local Areas
Koji YOSHIDA (Small Business Corporation), and Fumitaka NISHIMURA (Chiba
Commercial College)
A Study of Regional Characteristics and How Commercial Complexes are Formed.
Shigeru SHIMIZU (Tokai University)
Revitalization of Retail Store Complex - Its Direction and Tasks
Yoshitomo MIYAHARA (Yokohama College of Commerce)
Today's Task of Urban Commercial Policy
Toshimi TANAKA (Ibaraki University)
How to Improve Individual Store Performance in Multiple-Store Retail Enterprise Taking A Do-It-Yourself Store as A Model
Kiyoshi SUGAWARA (Sangyo Noritsu University)
A Research on The Impact of Convenience Stores in Japanese Retailing
Koji ASADA (Kyorin University)
Locating Supermarkets on Value Cordinate of Consumer Buying Behavior on the Basisof Local Comparison
Hiroshi OTSUKI (The Distribution Economics Institute of Japan)
Strategy and Regionality of Chain Store Retailers
Mitsuo WADA (Keio University), Satoshi HIKITA (University of Tokyo) and Yuki­
hiko UEHARA (Meiji Gakuin University)
Regions and Retail Commerce
Masashi KATAGIRI (Otaru College of Commerce)
How Regional Wholesalers Will Adapt to The Age of Regions and The Age of New
Media - A Case of Wholesalers in Kanagawa Prefecture
Toshio SATO (Nihon University)
An Empirical Study of."Regionality" of Retail Commerce - Limits and Future Tasks of"Theory of Regional Commerce"
Takeshi TAKASHIMA (Small Business College)
Comparative Analysis of Retail Trading Zone
Hitoshi YAMANAKA (Konan University)-28-

In addition to the papers on the special theme, papers on free themes were alsopresented. They were as follow:
Fandamental Tasks of Regional Commerce - with Special Reference to Technology, De­velopment and System
Yoshio YOKOKAWA (Sapporo University)
A Tentative Use ofO.S.P. Analysis in Diagnosing Retail Store Complex- Taking Yokohama Motomachi Store Complex as A Diagnosing Object
Mitsuhiro NARA (Yokohama College of Commerce)
Selection of Economic Development Model and Physical Distribution Management inChinaShuji HAYASHI (University of Tokyo)
Trends in Commercial Structure and Consumer Needs in Naha City
Morinobu IHA (Okinawa University)
A Study of Characterization of Making-up Principle in Urban Markets - An Analysis
Based on Stratum Structure Principle, Attractiveness Principle and Practicality Principle
Tetsue MUROI (Chiba Commercial College)
Consumer Protection Measures in Liquor Industry in Japan and in U.S.A.
Yaozo OFUNA (Liquor Study Group of Hokkaido)Marketing Theory and Scientific Management - A Study of Theories in 1910's and1920'sKazuo USUI (Saitama University)
Toward Establishing Marketing Science
Masakatsu KASHIWARA (Keio University)
An Empirical Study of Regional Culture and Consumer Buying Behavior - A Case in
Toyama Prefecture
Saichi NEGI (Toyama Women's College)
Management Policy Selection at The Time of Big Change by Second-Generation
Company Owners
Yutaka KARASAWA (Sangyo Noritsu University)
Trade Frictions and Sogo Shosha
Kazuo UMEZU (Osaka University of Foreign Studies)
Small- and Medium-Sized Business and Marketing Strategy - with Special Reference to
Bag Industry
Yoshiji TAMAKI (Osaka College of Commerce)
Rebuilding Strategic Marketing Mix
Masahiro SUGAWARA (Ryukoku University)(Koichi TANOUCHI)-29-

JAPAN SOCIETY FOR COMMODITY SCIENCE"Summary of Reports & Research Activities"
The 35th national convention of the Japan Society for Commodity Science was heldon May 19-21, 1984 at Chiba Shoka University. The symposium theme was "Conflict inInternational Dealings of Commodity - Aiming at Establishing Analytical Methods
from the Viewpoint of Commodity Science". Business conflicts have become serious
problems in both social and international scenes in recent years. Therefore, it is signifi­
cant to examine, from the standpoint of Commodity Science, what kind of merchandise
would cause conflict, and why would it happen, during competition on the international
market.
In the discussion, we divided our subject into 1) the conflict, caused by foreign mer­chandise in the Japanese market, and 2) the conflict, caused by Japanese merchandise
in foreign markets.
In dialing with market competition, we did not include non-tariff barriers, such astechnology, quality, standards, inspection system, circulation structure and prices. In
pursuing our study, we discussed various phenomena of conflicts in international
dealings, from three viewpoints as follows.
In viewpoint (1), Toshimi TANAKA (Ibaraki University) pointed out that, in theconflict existing between Japan and the United States, there are two important factors:
one is the existence of some items still under the import regulations, as symbolized byoranges and beef, and another is the'non-tariff barriers. Then he looked into the back­ground for the cause of trade conflicts, and compiled a matrix according to the dif­ferences in consumer needs and the usage conditions. Taking these factors into
consideration, he summarized trade frictions, by examining the degree of discriminationin products; price competition; demand for producer protection; and demand forliberalization.
In viewpoint (2), Mitsuro OBA (Japan I.B.M. Co.) reported on the technology andtechnology-oriented merchandise which may cause a conflict in the domestic market.
Concerning high-tech merchandise, he said that Japan is currently importing themmore or less, but there is a possibility that the nation will become a powerful exporting
country in the near future. He insisted that, even though some potentiality exists, there
exists no conflict at present. About the high-tech merchandise, he divided them into
four groups according to where the new techniques are used. In addition, he referred to
the 'priority conflict', caused by the difference of evaluation, and discussed various
specific situations, observed in the relation between Japan and the Western nations in
the technical development and international commodity competition. Lastly, he pre­sented the following matters for discussion: 1) As a commodity, how the'knowledge'
should be evaluated; 2) how to protect technology; 3) how the technological dealings
should be handled; and 4) how the'technology' would be evaluated under the cost ac­
counting method.

-30-

In viewpoint (3), Yoshimitsu TORIGOE (Okayama Shoka University) referred tothe problems of export merchandise, which may cause conflict in the foreign markets.
He stated that the cause of conflict exists basically in the difference of competitive
power. The domestic competitive power is described as the primary international com­
petitive power - f(X), and it includes non-merchandise power (X2) in addition to themerchandise power (X1) which combines price power and quality power as judged fromthe conventional commodity science. When the merchandise moves out to foreign
nations, f(X) will be transformed into the secondary international competitive powerf(Y). Under the definition, it will be f(X) f(Y) when there exist barriers, and f(X) f(Y)when there exist no barriers. Trade frictions will occur in the following two situations;firstly when it is f(X) f(Y) and voice for trade protection becomes strong in foreign
nations; and secondly when it is f(X) f(Y) and the exporting power will decline.
Now, we look into some other reports under free subjects. Hi-Young HANA (Seoul
National University) reported that the South Korea Society for Commodity Science wasestablished in 1982 and currently has the membership of about 100 scholars. The Socie­ty regularly publishes'the Study of Commodity Science'. He gave a report on the situa­tion of the commodity science in European nations. Hisao MORISAWA (Akechi HighSchool of Commerce) referred to the producers and consumers in South Korea, andreported that in South Korea the Consumer Protection Law was enacted in 1981 and its
is important to observe how this policy will affect the merchandise in the future. Yoshito
YAMANAKA (Onomichi High School of Commerce) discussed the QSS(Qualitatssicherung und Standardisierung) system. Yoshitaka KAZAMAKI (Kobe Uni­
versity of Commerce) referred to Johann BECKMANN and his lectures on Commodity
science. Yuzuru TANAKA (Chukyo University) conducted a theoretical study on theoccurrence mechanism of 'coordinating trend'. Mitsuharu MITSUI (Kobe Universityof Commerce) observed several changes in the concept of merchandise quality andservices. Yasushi MIURA (Tohoku University) conducted a teste survey of 'tofu'(bean curd), sold on the market. Shinichi SAITO (North Japan College) conducted a'sensuous' taste survey on green tea, and proved the existence of preconception in judg­
ing the quality. Kenro TAKATORI (Yamaguchi University) conducted a survey on'shoyu' (soysauce), classified by quality and grades. Takao IKEGAMI (Kinki
University) stated that the leaf of'kaki' (persimmon) is theoretically a significant factor
for judging the quality of'kaki' products, and it provides a theoretical foundation for thequality judgement of'kaki' seedlings. Masayoshi KAWAMURA (Chukyo University)
conducted a survey on the Inuyama ware.
Then the Conference of Merchandise Research held a discussion under the leadingof "Concerning the Development of Lectures of Import and Export Marchandise". Par­
ticipants discussed the subject of'import and export merchandise' for which the govern­
ment's New Course of Study imposed particular guidelines. They considered ways to de­velop lectures, and how to carry out guidance and instruction.
(Takao IKEGAMI)-31-

THE SOCIETY OF ECONOMIC SOCIOLOGYMembers of this Society study present day society through an interdisciplinary, or trans­
disciplinary approach extending over both economics and sociology. The annual
bulletin, Vol. VI, with the theme, "The Fate of Capitalism", was published in
November, 1984.
The 20th annual meeting was held at Waseda University in Tokyo, November 24-25,
1984. The special topic was "Economic Sociology as Social Science".
I. Presentation of Reports
1. Special Topic: "Economic Sociology as Social Science," Chaired by Yoshimatsu
AONUMA (Kokusai Commercial College) and Shuya NAGAO (University of Osaka
Prefecture).
(1) "Economic Sociology as a Field of Sociology" by Takao MAMA TA (Kanazawa
University)
First, the scope and methods of the study of economics and sociology are very
different. Economics usually deals with what are regarded as economic affairs. Under
the premise of rational behaviour, economics mainly probes into market-oriented social
relations, and views the institution and value as part of the economic environment or
given condition. Education, culture, environment and public goods would be taken into
consideration so far as they have economic value. Sociology, on the other hand, does
not assume the premise of rational behaviour, and it handles face-to-face social
relationships. In economics, mathematical theories are developed as a way of theoreticalstudies and they aim at establishing general laws. But sociology tends to remain as a con­
ceptual framework, and it aims for generalization within a limited scope. In the mode of
positive research, economics centers around quantitative collective-data and does not
pay any regard to psychological factors. But in sociology, analysis is made focusing on
qualitative data, and it includes measurement of psychological factors.
Secondly, economic sociology is research that utilizes the sociological method, deal­
ing both with economic affairs, and non-economic affairs which specifically relate tothem. In a broad sense, it includes matters of which either scope or method is compre­
hended as economic sociology. But in a narrow sense, economic sociology analyzes theinfluence of non-economic affairs on economic affairs. It measures internal factors andexplains that human behaviour comes about as a result of the entwinement of internaland external factors. For instance, taking into consideration attitudes towards saving,
economic sociology pays attention to non-economic factors such as social security, hous­
ing conditions, educational systems, and ascetic ethics.
Discussant: Kazuhiko OKUDA (Senshu University)(2) "Economic Sociology as Social Science - Modern Institutionalist Economics
and Economic Sociology" by Yuhiko UEMURA (University of Osaka Prefecture)
For institutional economics, economic sociology is just one of many special disci�
plines which clarify non-economic factors regulating economic activities, while institu­
tional economics is one entire system including the ecological system. As examples of
the current institutional economics, we can name the systems of G. Myrdal, K.W.
-32-

Kapp, and J.K. Galbraith. According to K.W. Kapp, institutional economics has the fol­lowing nine characteristics: 1) radical criticism, 2) normative science, 3) the idea of anopen economic system, 4) recognition of the principle of circular and cumulative causa­
tion as a convincing hypothesis, by paying attention to the dynamism of the entire
system, 5) emphasis on institutions and institutional behaviour, 6) acceptance of ration­
al control on the logic of market, 7) interest in the relation between science/technology
and economic activity, and 9) interest in restrictions which various social relations placeon economy. From the foregoing, Kapp attaches special importance to radical criticism,
economy as an open system, and the dynamism of the entire system. In addition,
however, the characteristic of'normative science' should be stressed. The entire system
is a space where everything can be a cause for'everything', and it signifies mutually
regulating correlations for each open subsystem. Institutional economics is supposed to
explicate this correlation theoretically. According to G. Myrdal, economic problems are
not only the concern of economics but also of psychology and ecology, and are complex
ones which should be studied with the help of various sciences. Discussant: Shoichi
HASHIMOTO (Kansai University)(3) "Epistemology and Ontology in Social Science - on the Critique of Max Weber
by Gottle" by Akihiko KATO (Gunma University)
Gottle's system started with strong aware of social crisis, and it questions how tograsp the whole system of society. His system was developed under Tennies and only
sociological theories are considered systematic studies there. Gottle's system is madeup of three parts, namely, economics, which deals with economic-social facts; politicalscience, which deals with political-social facts; and analytical theory, which deals withother special social facts. The conventional theory has been non-sociological, but the
new economic theory must be a sociological theory, filled with the spirit of sociology.
From this standpoint, Weber's sociology was a theory which grasped the internal con­sistency of social life of people (menschliche Zusammenleben). When Gottle used theword'sociology', he meant that'there exists an internal consistency of concepts con­cerning the communal living of people'. This makes it possible to comprehend various
sciences as one entirety. Internal consistency means 1) that particulars are mutuallyconsistent; and 2) that they create a vivid ensemble with'complimentarity'. Social sci­ence differs from natural science. Facts dealt with in natural science are value-free(sinnlos), while facts dealt with in social science are value-laden. Social science uses in­tuition in grasping the whole of social life. This way,'Conceptual construction' could beunderstood. Discussant: Masaki HACHINO (Hokuriku University)
2. General Discussion on the Special Topic
After the presentation of reports on the special topic, Hiroshi SEGAWA (Obirin
College) stressed the need for thorough methodological consideration. Yuzo
YAMADA (Emeritus Professor of Hitotsubashi University) stated that the researchers
should not be content with the modern theoretical economics, but develop the way toattain synthesis, exceeding the analytical method. He pointed out the 1) problem of
positivism, 2) problem of ontology, and 3) problem of practical theory and value
premise. Yoichi ITAGAKI (Asia College) noted that economic sociology covers-33-

economy, culture, politics and ecosystem, and the entire sphere for economic sociology
could be regarded as the national system. There are various methods including themode of inner understanding, as well as interdisciplinary or transdisciplinary ones.
Yukimasa NAGAYASU (Waseda University) suggested the need for more interest
toward'dimensional epistemology' for achieving synthesis. Toshimasa MUKAI (Kobe
Gakuin University) commented that economic sociology is a special branch ofsociology.
3. Other Topics, discussed by the members, included:(1) "Polanyi's Concept of Society" by Masahiro SUMIMURA (Kobe Gakuin
University)(2) "Cultural Life and Economic Regime - on the Viewpoint of E. Heimann" by
Tomoyuki YOSHISUJI (Kobe Gakuin University)(3) "Heimann and Polanyi - Two Theories of Economic Regime with Reference toEconomism" by Koichi KOBAYASHI (Kobe University)(4) "Cultural Values and Political Economy - from the Point of View of Their Rela­
tionship" by Haruo OBA (Toshokan Joho - Library Information - University)(5) "Design of Policy Studies - Some Methodological Problems" by Masaaki
KAMINUMA (Waseda University)(6) "Social Background of Modern Economics - on Monetarism, Rational Expecta­tion Theory and Supply Side Economics" by Suminori TOKUNAGA (Reitaku
University)(7) "The Structure of Employment in Trigger Industries" by Mikio SAITO (TheCentre of Employment Development)(8) "On the Problem Caused by International Migration of Labour - with Special
Reference to the Case of West Germany" by Susumu MORITA (Osaka Gakuin
u mvers1ty)·
II. Next Annual Meeting
The 21st annual meeting is scheduled to be held at Kobe University, Kobe City, in
November 1985. The special topic will be "Reconsideration of Japan, Post World War
II, from the Viewpoint of Economic Sciology ".
(Yukimasa NAGAYASU)-34-

THE SOCIETY FOR THE HISTORY OF ECONOMIC
THOUGHTThe 48th national convention of the Society for the History of Economic Thought
was held on November 10 - 11, 1984, at Tohoku University. The common theme was"Schumpeter and Keynes", chosen in commemoration of the centennary of theirbirths. Noboru KOBAYASHI (Daito Bunka University) and Izumi HISHIYAMA(Kyoto University) worked as the joint moderators. Here I concentrate on the threereports given in honour of Schumpeter and Keynes.
The first report was presented by Yuichi SHIONOYA (Hitotsubashi University),
under the title oflssues and Methods of Schumpeter. It examined particularly the meth­odological idea which supports Schumpeter's system of social science. he examined
Schumpeter's comprehensive system, by dividing it into the following four parts: 1)
dualism of scientific images and scientific history; 2) the viewpoint of 'omnipresent
social science'; 3) analytical methods; and 4) a hypothesis - the tension between econo­
my and civilization. In paying due regard to M.E.L.Walras and K. Marx who are deemed
to have influenced Schumpeter, SHIONOYA tried to clarify methodologicalcharacteristics, particularly observed in Schumpeter's social science.
SHIONOYA emphasized that the static economic theory is not denied in the'omnipresent social science' intended by Schumpeter, the static economic theory is notdenied. They coexist with each other. Economy has its own order (Walrasian generalequilibrium), but the view of development (Entwicklung) cannot help but to introduce
the correlation in various domains of the wide-ranging life in society. And there comes away to grasp matters from the point of'the concern and tension between economy andcivilization'. Schumpeter evaluated Marx as typifying the'concern'.
The second report was given by Kiichiro YAGI (Okayama University) under the titleof "A Research on the'Capitalistic Process'in Schumpeter". After examining the for­mation process of Schumpeter's vision of economic development, YAGI tried to pro­vide a framework for discussing its social implications. In the formation of his develop­
ment theory, it is impossible to ignore his researches of the theory of trade cycle and thetheory of interest. YAGI states that Schumpeter's concern on these two categories'has
been integrated as he tried to grasp the relation between the entrepreneurs (profit
acquirer) and capitalists (interest acquirer) in a certain refined and dynamic process ofprosperity'. He concluded that Schumpeter's vision of development, which regards theentrepreneur's innovation as the driving force, is after all the "vision of the capitalistic
process, which has been purified as a process, itself after the abstraction of the posses­
sion and accumulation of capital".
The last report was presented by Satoshi SECHIYAMA (Kyoto University), under
the title of "Significance of User Cost -'Time' as defined by Keynes". His report aimed
at examining the issue of user cost that has so far been ignored, and based on that,reconstructing the theory of short-run supply price, from the viewpoint of'time' and'uncertainty', on which Keynes laid emphasis. SECHIYAMA stated that "a fundamen-35-

tal difference from the conventional explanation which equals the short-run supply
price to the marginal factor costs, is that Keynes' analysis specifically takes into consid­
eration an inevitable fact that the productive capacity exists continuously for a long, un­certain period in the future, and then it tries to explain the optimum output for the pre­sent term as well as the supply price which makes it possible". The short-run supply
price, required by entrepreneurs at the time of planning a new investment, is regarded
as the same to the administered price, calculated to recover target profit in addition to
the invested capital. In the end, utilizing a simple two-term model, he said that suchreorganized analysis of short-run supply price by Keynes could give explanation even to
inflation and stagflation.
In the ensuing discussion comments were made by Tadao OHNO (Osaka Gakuin
University), Tadashi HAYASAKA (The University of Tokyo) and Takashi NEGISHI(The University of Tokyo). The three reporters responded to their comments, and ques­
tions and answers followed from other members. OHNO's viewpoint had no fundamen­
tal difference from SHIONOYA's, and in supplementing the theory, he mainly referredto the importance of sociological factors which stay in the historical outline of the devel­
opment of capitalism.
HAYASAKA commenting on the three reports, noted that, on YAGI's report, hesaid that 1) the entrepreneur in Schumpeter's theory means exactly the'capitalistic'
entrepreneur, in the special historical sense; therefore he cannot comply with YAGl'sopinion that "the entrepreneur's function itself is not'capitalistic' on its own". And 2)
that, since the accumulation as well as the capitalist exist behind the credit creation, it is
not right to say that Schumpter took up the issue of the capitalism without the capitalist.
Also 3) that there exists the separation of capital ownership and management in the
background of his capitalistic'process'. With these points in mind, HAYASAKA sug­gested the possibility that Schumpeter might have had Germany, not Austria, in mind,
similarly as in the case of R. Hilferding. Then on SHIONOYA's report, HAYASAKA
commented that the report seemed too self-conculsive, and even if Schumpeter's
dynamic theory might have been a failure, it does not mean that he did not attach impor­tance to the dynamic theory. Lastly on SECHIYAMA's report, he raised a question, if
Keynes' claim that the price is a administered price would not be contradictory toKeynes' other claims in the General Theory.
NEGISHI gave his comment mainly on SECHIYAMA's report, and briefly on otherreports. First on SECHIYAMA's report, he said that 1) SECHIYAMA's price theory
does not refer to the enterprises which directly face demand constrained on the productmarket; therefore it would not be able to fully explain the existence of involuntary idle
capacity; 2) whether the interpretation of inflation, caused by the rise of user cost,
would be any different from the one by the monetarist; 3) how the downward rigidity ofadministered prices could be explained with the Keynes - SECHIYAMA theory. Then,concerning SHIONOYA and YAGI's reports, he questioned if Schumpeter had any con­
cept of steady growth, and if so, whether there exists interest, even with the scarcity ofcapital.
(Izumi HISHIYAMA)-36-

THE JAPAN ASSOCAITON OF ECONOMICS AND ECO­NOMETRICS
The 1984 annual conference of the Japanese Association of Economics and Eco­nometrics was held at Kobe University of Commerce on October 13 and 14, 1984. As
last year, the great majority ofJapanese economists attended this meeting. Seventy-fivepapers were presented in twenty-three sessions. The number ofpapers presented has in­creased to enable more researchers to participate in this convention.
There were sixteen sessions on the topics ofgeneral themes: Imperfect Competition,
Information and Uncertainty, Wage and Employment, Theoretical and EconometricAnalysis oflnternational Economy, Saving-Investment and Taxation System, Econom­
ics oflnstitution and Public Decision Making, and the Method ofEconometrics. At thesame time, seven sessions were held on specific topics.
As last year, Oligopoly provided an attractive session with Kazuharu KIYONO(University of Tokyo) presenting a paper "Fundamental Natures ofQuasi-Cournot Oli­
gopoly Markets", Kunio KAWAMATA (Keio University) reporting on "Conjectural
Variation and Oligopolistic Equilibrium ", and Masahiro ABIRU (Tsukuba University)
giving a paper "Vertical Integration Variable Proportions and Successive Oligopolies".
In addition, Shiro YABUSHITA (Yokohama National University) reported an"Dynamic External Economies and Imperfect Capital Market: A Note on the Infant In­
dustry Argument".
In this conference, some sessions on the topics of"Information and Uncertatinly" at­tracted a number of participants. Yasuhiro SAKAI (Tsukuba University) read a paper:"The Value oflnformation in some Duopoly Models", and lchiro TAKAHASHI (Soka
University) presented a paper on "A Model of Credibility with Replacement". In thesession of "Economics under Uncertainty ", a paper "Equilibrium Price Dispersion andInventories" by Kiyoshi MASHIYAMA (Toyohashi Institute of Technology), a paper"Quasi-Fixed Labor and a Competitive Firm under Price Uncertainty" by Eozo
KAWAI (Ryutsu Keizai University) and a paper "Peak-load-pricing with Diverse Tech­nolgies under Demand and Supply Uncertainty" by Noriaki EFUKU (Seinan Gakuin
University) were reported.
Wage and Employment is an important problem in Japanes economy. In this session,a paper entitled "Lay-off minimization Behavior as a Macro-economic Stabilizer:
Theory, Evidence, and International Comparison" by Hiroyuki ODAGIRI (Tsukuba
University), a paper "On the Dynamic Efficiency of the Adjustment of Employment"
by Takeshi ARIGA (Kyoto University), etc. were reported. The interest in this theme
has become very noticeable.
The session of International Economics reflects the situation of today's Japanese
economy which faces one ofthe most controversial economic problems. In this session,
theoretical papers "Factor Endowments and the Pattern of Commodity and Factor
Trade " by Michihiro OHYAMA (Keyo University) and "Portfolio Equilibrium, Invest--37-

ment and the Current Account Adjustment" by Kiyoshi OTANI (Tokyo University of
Economics) were presented. A paper entitled "An Econometric Link System for the
East and Southeast Asian Countries, Japan and the United States " by Mitsuo EZAKI(Kyoto University) and his associates and a paper "A Monetarist Small Econometric
Model for Singapore, 1971-1982" by Mitsuru HIDA (Institute of Asian Economy), etc.
threw light on econometric analysis. In·addition, Kiyohide HIGUCHI (Waseda
University), Koichi HAMADA (University of Tokyo) and Syumpei TAKEMORI·· ) reported papers, in which problems of international economics are(Keio Umvers1ty
examined.
In the session of Saving-Investment and Taxation System, papers on "Capital
Income Taxation in a Multi-sector Economy with Heterogeneous Capital Goods" byHiroshi OSANO (Shiga University), "The Effect of Land Tax: The Case of a Simple
Speculative Equilibrium" by Toshihide MIZUNO (University of Tokyo) and "The
Effect of Corporate Tax and the Decrease in Investment Tax on Investment for
Equipment" by Yukisuke ITAGAKI (Soka University) were presented. These papers
examine the effect of the taxation system on saving and investment. Chikara
KODACHI (Kyoto University) and his associate also from Kyoto, Yasuhiko TANIGA­
WA and Yoshio KUROKAWA (Musashi University) and his associate reported papers,
in which the institutional aspects of taxation systems are investigated.
In the session of Economics of Institution and Public Decision Making, several
papers dealing with public economy from institutional and purely theoretical points ofview were presented. Kohichi MERA (World Bank) gave a paper "Production Contri­
bution of Infrastructure Investment". Shinsuke NAKAMURA (Keio University) pre­sented a paper "The Existence of Pair Allocations in an Economy with Public Goods",
and Mitsunobu MIYAKE (Tsukuba University) and his associate reported a paper "On
the Optimal Limit Tax Rates". Yukihiko FUNAKI (Tokyo Institute of Technology)
and his associate read a paper "Economies with labor Indivisibilities", in which theyexamined optimal tax schedules and cometitive equilibria under the tax schedules.
Finally, in the session of the Method of Econometrics, various methods of economet­
rics were reported. For example, Masuo AISO (Nippon IBM) presented a paper"Econometric Model-building and Simulation by Personal Computer", Yoshihide
TSUKUDA (Yamagata University) gave a paper "A Test of the Slope in a Linear Func­
tioal Relationship", and Takehiko KARIYA (Hitotsubashi University) reported a paper"A Test in Logistic Curve Model". These are the only few examples of the papers pre­sented at this year's conference, but reference to these will indicate the interests of ourSociety's members.
(Kunio KAWAMATA)-38-

THE JAPAN ASSOCIATION OF ECONOMICGEOGRAPHERS
The Association holds a national conference every year, and its three branches, inthe Eastern part of Japan (Kanto), in the Central part of Japan (Chubu), and in theWestern part of Japan (Kansai), usually meet every month. The Association publishes
quarterly "Annals of The Japan Association of Economic Geographers".
The 31st National Conference, attended by about 120 members, was held on 26thand 27th, May, 1984 at Kansai University, Osaka. The main theme was "The Locationand the Regional Economy in the Period of Low Economic Growth".
On the first day we received reports from Akira SHIOKAWA (Shizuoka University)on "Fuji-city's Paper Product Insutry during the Period of Economic Depression",
Takahiko YOSHIDA (Shinshu University) on "The Problem of Water Resources in
Matsumoto City, a Nerw Industrial City (Shin Sangyo Toshi) in the Period of Low
Economic Growth" and comments from Makoto MURAKAMI (Hiroshima
University) on SHIOKAWA's report, Michio AKIYAMA (Lake Biwa ResearchInstitute) on YOSHIDA's report.
In the morning of the second day three members presented their reports, Morito
YAMAGUCHI (Kumamoto University) on "The Change of Local Firms in Kumamoto
Prefecture", Kozo NARITA (Osaka City University) on "The Strategy of the Manu­
facturing Industry in a Big City, Osaka in the Period of Low Economic Growth", andHisao NISHIOKA (Aoyama Gakuin University) on "Advanced High-tech Industry;
Location, Regional Development and Trade Frictions".
Three members commented on the three reports, Yasuhiko FUNAHASHI (Oita
University), Atsuhiko TAKEUCHI (Nippon Institute of Technology) and Yasuo
MIYAKAWA (Aichi University of Education) in that order.
In the afternoon of the second day the general discussion was introduced under thechairmanship of lchiro KIKUCHI (Nara College of Education), Tsutomu FUJIMORI(Wakayama University) and Fujio YAMAGUCHI (Hosei University).
At the beginning Shigeo KASUGA (Osaka City University), (the chairman of the or­ganising committee) explained how they chose the main theme. The symposium hoped
to clarify the changes both industrial and spatial, which had taken place during therecent period of low economic growth in Japan.
SHIOKAWA made it clear that, in Fuji city, Shizuoka prefecture, small-sized firms
producing papers for household as toilet paper and tissue paper, were much affected by
the depression of the paper product industry. Commentator MURAKAMI said that thereporter should discriminate between the depression of the regional economy and thatof the industry.
YOSHIDA explained that high water charges in Matsumoto city, Nagano prefecture,
were caused not by oversupply of water, but by the geographical disparity between thearea of water supply and that of the city's expansion. He believed that the city should
expand so that it could easily tap the underground water. AKIYAMA stressed that the-39-

availability of water supply should be reflected in the city's planning. YAMAGUCHI
referring to the development of high-tech industries in Kumamoto prefecture during
the period of low economic growth, pointed out that construction of infrastructure, suchas the airport and roads had encouraged many semiconductor producing plants andsome small product or process firms to locate there. FUNAHASHI supplemented thisby reporting the problems involved in the location of integrated circuit plants in Oita
prefecture. These problems were financial troubles of local governments, the technicalgap between newly located firms and local firms, and occupational diseases.
NARITA pointed out that the removal of big plants from the center of Osaka city to
the suburbs resulted in the low growth of tertiary industry and the high rate of unem­
ployment in the center of the city. He also addressed that many small venture firms
should be located in the city's center to help in its revival. On this report TAKEUCHI
commented that the development of manufacturing industry must be harmonized with
communities of people in big cities.
NISHIOKA's report referred to the different views which Japan and European coun­tries had on whether high-tech industry could be dispersed and whether it would contri­bute to regional development and reconstruction. It was explained by using long-run
and short-run cost curves and E.M. Hoover's margin line. On this report MIYAKAWA
commented that it was important to notice the concentration of R & D function in high­tech industries in the Tokyo metropolitan area.
In the general discussion Takuro KIMURA (The University of Tokyo) criticized
SHIOKAWA's report by pointing out that the depression of Fuji-city's economy wascaused by competition of paper producing regions, not by declining of Japan's paper
producing industry. Koichi TOGASHI (The University of Tokyo) and Mitsuo
YAMAKAWA (Fukushima University) explained the change of regional structure of
petro-chemical industry and iron & steel industry, respectively, which were concentrat­
ed into the Tokyo metropolitan area.
On the location of high-tech industries TAKEUCHI critisized the "Technopolis Con­cept" provided by MITI because of its impossibility considering the concentration of R
& D functions into Tokyo metropolitan area. On the contrary Kiei ITO (Keio
University) evaluated it because of the possibility of developing local economies.
FUNAHASHI agreed with ITO's.
On the inner-city's problems Terutoshi ISHIHARA (Okayama University) expressed
the opinion that it was reasonable to promote tertiary industry, not manufacturingindustry.
Toshio AOKI (Kokusai Commercial College) pointed out the validity and limitationof the location theory in analizing the real location of industries and regional economies.
And he stressed the importance of considering public policies. Seiji KOMORI (Kobe
University of Commerce) agreeded with AOKI's opinion, stressing the important roleof infrastructures in the industrial location.
At the end President Tetsuro KAWASHIMA (Hannan University) summarized thesymposium as follows. It was necessary to understand the meaning of low economic
growth. Was it a real depression or the maturity of the Japanese economy? Was this con--40-

nected with internationalization or service industrialization of our country? It was im­
portant that locations of industries and changes of regional economies should be under­stood in relation to the change of regional structure of the national economy.
The 32nd national conference was held on 25th and 26th May, 1985 at Aichi
University, Toyohashi city, Aichi prefecture. The common theme of the symposium
was "The Change of Regional Economies by Internationalization of The National
Economy".
(Toshifumi YADA)-41-

JAPAN ECONOMIC POLICY ASSOCIATIONThe Association held its 41st national convention in Okinawa on May 24 - 26, 1984.
The common theme was "Regional Development and Economic Policy", and the sub­common theme was "Regional Development in Okinawa". Based on the Multiple Pur­pose Development of the Land Act, enacted in 1950, Japan's regional policy has beendeveloped for the purpose of correcting regional differences and preventing excessive
expansion of large cities. In the established regions, which has expanded through rapid
industrial progress, there occurre over-agglomeration and environmental damage. But,in the early 1970s, the effect of the regional policy began to be seen. Moving throughthe high growth period, the Japanese economy entered a stable growth period, and theregional policy came to place more emphasis on the improvement of the environment
for living. The Third Comprehensive National Land Development Plan, enacted in
1977, concentrated on a regional program which stressed better'residential plans'.
Now, the fourth Comprehensive National Land Development Plan is being prepared.
This is a good opportunity for us to review the correlation of the regional policy with theeconomic policy. Okinawa has a different industrial structure from the mainland, due toits special political features after World War II and its isolated geographical position.
Therefore, we decided to take up the "Regional Development in Okinawa" as the sub­common theme.
On the main theme, three speakers read papers - Shinyasu HOSHINO (Economic
Planning Agency), Hirotada KOHNO (Tsukuba University) and Kazunari ABE(Yamaguchi University).
HOSHINO's report was "The Interdependency between the Economic Policy and Re­
gional Development Policy in the Period of Rapid Economic Growth in Japan". He de­scribed the actual situation of the regional policy during the high growth period, inwhich the'motir which sought economic efficiency had been given priority that whichsought impartiality through the correction of regional differences. HOSHINO hinted
that, while internationalization and the changes of industrial structure advance quickly,
the formation·of regions which maintain good harmony with nature could become an
important object in the future regional policy.
KOHNO gave his report, "How Should We Plan and Execute the Coming New Re­
gional Development Policy". He considered how the study of the results of regional sci­ence have contributed to regional development, and presented his view for the future
regional policy.
The third report was given by ABE, under the title of "Regional'Structure Policy' in
the Period of Structural Change of Industry". He noted that the important issue in'regions'is to improve the industrial structure, but the issue could not be dealt withmerely by inviting branch factories of big companies into the regions. In taking a look at
the case of Yamaguchi Prefecture, he reported that the amount of industrial shipment
per resident after the import of a heavy-chemical industry, was'142'(ranking 5th in thenation), while rating the national average as'100'. Nevertheless, the income per resi--42-

dent was lower than the national average. Therefore it might be wise for each region tolaunch their own development plan.
Concerning the sub-common them, "Regional Development in Okinawa", threereports were presented. Under the title of "Uri.employment and Regional
development" , Sai TOMONAGA introduced the achievements in regional develop­
ment which influenced the rate of unemployment in Okinawa. Tatsuo MIY AGl's
report, "The Transition of Development in the Postwar Okinawa", presented future
prospects, after explaining the plans and process of regional development in Okinawa.
Zenichi ITO followed the transition of regional development in Okinawa. Then he gave
his view on the tourist industry, which is regarded as a strategic industry for the develop­
ment of Okinawa. In the matter of Okinawa's net production, the teritary industry
makes up 75.8%, and especially the tourist industry ranks high. Also a new development
can be expected in agriculture, providing a supply of vegitables during the winter, or in
the manufacturing business, connecting with biotechology. In Okinawa, which is locatedin Japan's southernmost part and where attempts are made to preserve the natural
beauty, it will be possible to expand the tourist industry yet further.
Through the 1960s, regional development had been considered as a synonym for at­
tracting industries. But, since the'oil shock' which hit the economy twice, the economic
structure in Japan has been changing markedly. The manufacturing pattern, based oniron and petroleum, is switching over to the processing and assembling pattern. In
coping with such structural changes, more emphasis has come to be laid on promoting
the regional industry, which relies on the independence and originality of the region,
while enhancing the processing skills and advancing civilization.
Presently, the government is working on the fourth Comprehensive National Land
Development Plan, to depict a well-balanced land development plant in the 21st centry.
Therefore it was very timely for the Japan Economic Policy Association to select thissubject as the common theme and discuss the connection between the regional develop­
ment and economic policy.
(Kiyoji MURATA)-43-

JAPAN FINANCE ASSOCIATION
Studies of business finance have become increasingly complex and varied in recent
years along with advancement of internationalization and the link with macroeconomic
theory, as well as the extension of interdisciplinary studies. Therefore, there was a grow­ing need to create an organization for its special study. In 1977, interested scholars ofvarious universities got together and established the Japan Finance Association. The
purpose of the association is to study business finance; to seek cooperation among themembers; to exchange information and enhance friendship; and to liaise with otherdomestic and foreign associations and groups.
The 8th national conference of Japan Finance Association was held at Oska Universi­
ty of Economics, on October 2�3, 1984. The unified theme was "The Essence and Issuesof Business Finance Theory". The titles and contents of the reports given by the mem­bers are as follows.
Katsushige SAWAKI (Nanzan University) and Yoshio TABATA (Osaka
University) reported on "Continuous Transaction and Uncertainty in the Finance
Theory". They referred to the continuous time model in which uncertainty is describedby the differential equation of probability, and pointed out problems caused by continu­
ous transactions. They posed a question, "What sort of conditions would be appropriate
in order to avoid such problems?". Then they presented strict definitions on the con­cepts of the transaction policy with the continuous time model, arbitration and complete
capit,al market. Lastly they expanded the selection model of the portfolio for optimum
consumption by R.C. MERTON , into a model which includes semi-Martingales'theprice fluctuation equation and the transaction cost proportionate to volume oftransaction.
Yoshio IIHARA (Nanzan University) introduced his study, "Review oflnvestment
Decision Theory". He stated that many European or American texts on finance theoryrefer to investment decisions based on the Capital Asset Pricing Model (CAPM) but
their ways of handling it are not necessarily the same. He points out that in Japan there
exists an argument that CAPM is a theory of securities investment, and not a theory ofinvestment decision-making of enterprise. Therefore, he examines how the investment
decision theory in the level of these texts should be arranged. In recent years, the Asset
Pricing Theory (APT) came to attract more attention, replacing the CAPM, as a theory
for the valuation of assets. What sort of form is investment decision-making, based on
the APT, likely to develop? He also probes into investment decisions, based on the con­tinuous time model, since the Option Princing Model (OPM) and the factors in the con­tinuous time model create one specific flow as a theoretical development of finance.
Akira KOMATSU (Saitama University) presented his report under the heading,"The Current Status of Corporate Finance and Issues in Business Finance Theory". Hediscussed the current financial status in Japanese enterprises. He emphasized the pre­sent situation of Japanese enterprises in regard to the corporate finance (capital procure­ment and investment, and capital accumulation), as well as to the issues to be dealt with-44-

the business finance theory. He noted that the enrichment of own funds could result
from the structural transition of corporate financing, and that this could also affect thestock market. Researchers, institutionally, should not forget to review corporate financ­ing and more fundamentally the corporation itself from a historical viewpoint. This will
benefit business finance theory.
Yutaka TOMINAGA (Tokyo University of Economics) gave his report on "Finance
Theory and Business Economics in West Germany". He observed that, in the study ofbusiness finance, the current finance theory must adopt the analytical method ofmodern economics, particularly the new classical school of economics. It is fundamental
issue for scholars, to clarify how this finance theory is going to be fit into the scientificsystem of business finance theory as a sphere of Business Economics. Both in the
United States and in Japan, such awareness of issues seems to be still rare. On the other
hand, in West Germany where, as in Japan, American finance theory remained
important, they have concentrated their efforts in a critical evaluation of business fi­nance theory as business economics. With regard to the views of R.H. SCHMIDT,TOMINAGA concentrated his study on the status of the'finance theory' of the West
German business economics-business finance theory.
Shozo ICHIMURA (Kyushu University) presented his report on "The Theory of
Capital Structure". Since F. MODIGLIANI and M. MILLER (MM) publicized theirepoch-making report concerning the capital structure of corporate enterprises, anumber of studies have been conducted on their research. E.H. KIM collaborated with
A.H. CHEN to prepare a report, summarizing these studies into two categories. One ofthem included studies which tried to demonstrate that the so-called leverage irrelevant
theorem of MM applies even under a condition where MM's suppositive condition iseased. Another series of studies puts emphasis on the fact that both MM's leverage ir­
relevant proposition and aproposition of maximum utilization of borrowed capital fore­
seen in the reviesed thesis in which they introduced corporation tax, will not harmonize
with selective action of capital structure taken by enterprises in reality. And they present
a series of scholoastic efforts in probing into a realistic theory which bridges a gap be­
tween the MM theorem and the reality.
ICHIMURA refered to the theories of E.H. KIM and A.H. CHEN, as well as to someof the studies concerning them. He examined problems surrounding the developmentof capital structure theory, following the time of MM. His report concerns 1) the wealth­plundering problem by creditors after the change of capital structure, and neutralizing
reaction on capital market; 2) theoretical framework of KIM's optimum capital structure
theory; 3) among the relating factos, especially the tax-economizing effect with the utili­zation of bond and the problems of bankruptcy cost; also a point of dispute particularly
concerning the economic importance of the bankruptcy cost; and 4) besides the bank­ruptcy cost, various leverage-related cost which occurs along with the utilization of bor­
rowed capital; and the relating studies by some scholars on whom KIM depends. Thenhe clarifies the direction of the new development of capital structure theory, intended
by KIM and CHEN, as well as the fundamental elements, needed for that theoreticalstructure.

-45-

Takashi HOSOI (Nanzan University) gave his report, "On Two Kinds of Financial
Functions - Centering around the FURUKAWA Theory's 'Contribution'and Some
' Criticism"'. The FURUKAWA theory (Dr. Eiichi FURUKAWA) probed theoreticallyinto the recognition of singularity of financial activities and functions in the corporate
management, and he avoided committing an error of getting involved too far as in thecase of R.J. CHAMBERS. Also he superably overcame the contradiction of M.R. LEH­
MANN (by drawing a sharp line between two of financial functions and financial
management). HOSOI insists that such great contribution of the FURUKAWA theory
should be always emphasized without restraint. But even this excellent FURUKAWA
theory could not be exempted from certain shortcomings, observed in the following
points: 1) The confronting relations of three kinds; 2) some questionable point in thestatement which classifies domains specifically for accounting and financial affairs; 3)
the American-style controller and treasurer departments which are the two kinds offinancial management organization corresponding to two kinds of financial
management, would not necessarily be adopted as a financial mangement organizationthat would cover all the business scale; and 4) the scope of specific contents of wide­
ranging finanical management is limited somewhat narrowly.
Akio MORI (Kobe University) reported on "Theorization of Corporate FinanceStudy and the Financial Management Theory". Theoretical studies on corporate finan­cial matters are rapidly progressing in recent years. Especially a conspicuous progress isseen in the detailed study on theorization of equilibrium analysis of capital market. The
problem would be how the progress and development toward such direction is going torelate with the traditional and pragmatic theory of financial management, or as the Ger­
mans would say, with the decision-making theory of finance. Also what sort of meaningor significance would it possess? He reviewed the recent tendency in the developmentof finance theory, and looked into the feasibility of study on the theoretical financemanagement theory and relating problems.
Shozo TAKAHASHI (St. Paul's University) gave his report on" The System andIssues of Business Finance Theory-Status of Company Finance in the Study of the Fi­
nance Theory". The sphere and essence of financial activities should be comprehended
on the baisis of the circulating and revolving movement of capital. It is understood that
financial activities are conducted for specific processes, such as the scale expansion andgrowth of capital movement, launched with credit, or in other words the accumulationand concentrated movement of capital in corporations. Business finance are intended
for 1) scale expansion and growth of enterprises; 2) expenditure and distribution of capi­
tal toward various assets to be acquired by enterprises; and 3) three organically-relatingphases in the procurement of the necessary capital. It is needless to say that these finan­cial matters of business finance are being provided with most resourceful/specific/theoretical/ and historical regulations, in the corporation which is the supremeand dominant form of enterprise. Therefore, the study of business finance theory
should be conducted on the ground of corporate finance theory, which depends on theunderstanding of the economic law that reveals the contradiction between fictitious capi­
tal and real capital, as well as the mechanism in the occurrence of founder's profit and-46-

the concentration of control. Moreover, it is considered to be important, and needed ina fundamental systematic study of the business finance theory, to grasp in the first place
the circulating and revolving capital movement, and at the same time to understandcoherently the expenditure and distribution of capital toward fixed assets; matters ofcapital budget concerning the procurement of necessary capital; and issues of working
capital, regarded as ordinary internal finance problems.
Katsunosuke MOROI (Niigata University) had his report, "Fundamental Characterof Business Finance Theory". Business finance theory is an economic theory for thefinancial decision-making , rapidly developed in the United States in the postwar era.
He explained the fundamental character of the bussiness finance theory, with emphasison the historical consideration of the theory.
Besides the reports, mentioned so far, the following reports were presented onreports related with the unified theme.
Shinji TORIBE (Himeji Junior College) - "On the Feasibility of Verification in the
Arbitrage Princing Theory".
Takao KOBAYASHI (The University of Tolyo) - "Speculative and Non-Speculative
Equilibriums on Asset Market".
Keiichi KUBOTA (Musashi University) - "Problems of bond Princing Theory".
Hideki HANAEDA (Kanto Gakuin University) - "Agency Cost and Capital Struc­ture of Enterprises".
Saburo HORIMOTO (Shiga University) -"Verification of APT (Arbitrage Pricing
Theory) in Japan".
Akira HENMI (Hannan University) - "Development and Business Finance of Big
Supermarkets".
Susumu TABUCHI (Hiroshima Shudo University) - "Selection oflnvestment Pro­
ject by the Asset Final Valuation Method".
Michihiro IKOMA (Wakayama University) - "On the Theory of Founder's Profit".
Setsuo NAKAI (Osaka College of Commerce) - "Viewpoint of the Theory on Organi­zation Finance Information".
Kiyoshi MIZUKOSHI (Meiji University) - "Classification of Big and Small Corpora­tions'and Finance - Companies deal with the Business Finance Theory".
The 9th national conference of Japan Finance Association is scheduled to be held at
Seikei University, on Octber 4-5, 1985. The unified theme will be "Business Finance
Theory and Adjacent Sciences".
(Yasu HAMAMOTO)-47-

JAPANESE ASSOCIATION OF FISCAL SCIENCE
The forty f1rst annual meetmg of the Japanese Association of Fiscal Science was heldin Waseda University on October 27 and 28 of 1984. Each year common subjects are
decided This year these were (1) financial deficits and financial reconstruction, (2)financial problems of local public enterprises, (3) basic problems of the tax system. The
first subject is similar to the main theme of the annual meeting of IIPF (International In­
stitute of Public Finance) held in Innsbruck, Austria from August 27 to 31, 1984,
namely "public finance and public debt". The second common subject is closely related
to the first subject and the third subject has been a favourite theme for all the studentsof public finance.
The Japanese government has been pursuing the policy of financial reconstruction
without resorting to tax increases. But Shoichi MIZUNO (Nagoya University) raisedquestions as to the practicability of this policy. He stressed the urgent need to carry out
financial reconstruction because of the harmful effects upon both management of publicfinance and of national economy of prolonged continuation of heavy1 reliance upon
public debt. He considers that there is a limit to the policy of expenditure cut without
tax increase and thus proposes to switch to the policy of financial reconstruction on thebasis of tax increase.
A similar financial reconstruction is required for local authorities. Yatsuka WADA
(St. Paul's Univesity) discussed the effects of local financial reconstruction upon theprinciples of local autonomy. He questioned the forecast by the Ministry oflnternal Af­
fairs made on the basis of the medium term financial forecast by the Ministry of
Finance. The forecast tells that the financial deficits of local governments will rapidly
shrink and the balanced budget will be established. But he stressed that the mere imple­
mentation of financial reconstruction without accompanying measures as to allocationof functions a,nd financial resources between the central government and the local
government would only weaken the principle of local autonomy.
Toshihiko MACHIDA (Fukushima University) made an international comparisonof ways of financial reconstruction of the United States, the United Kingdom, West
Germany and Japan in terms of its aim.s, processes of its implementation, tax system,
expenditure structure and public debts. In comparison with these countries, he tried toshow the special features of the Japanese case.
There were various presentations made in the area of the reform of the tax system.
Eiji TAJIKA (Research Institute of Asian Economy) reported his empirical study on
the effects of preferential measures of corporate income tax on the equipment invest­
ment in the post-war period. He studied such effects by industries and concluded thatsuch preferential measures gave positive incentives to corporate investments and thus
contributed to the economic growth of Japan.
Akira YOKOYAMA (Josai University) gave a report on "public choice of the tax
system". Instead of a normative theory of how the tax system should be, he tried to ana­lyze the interaction of various social groups in the formation of the tax system. He also-48-

tried to analyze the present tax system from this view point of public choice.
As a concrete proposal of tax reform, the possibility of introducing an advertisement
tax was discussed. Seiji FURUTA (Keio University) gave a presentation entitled"political eonomy of the advertisementtax". He analyzed the arguments so far present­
ed by various groups in the society and also the Government Commission of Inquiry
into the Tax System for such aspects of objectives, economic effects, the need to curb
the excessive advertisements and the regulation of exaggerating advertisements. As
one means of increasing government revenue, the advertisement tax is studied for its
feasibility. FURUTA stressed the need of comparative studies of this tax with other al­
ternative candidates for the extra government revenue.
Sumio HIUGAJI (Aoyama Gakuen University) introduced the theory of fiscal illu­
sion developed by Amilcare Puviani and proposed to review the present tax systemfrom this viewpoint as well. With an increasing tax burden, the resistence to tax collec­
ton will be stronger while the financial need will increase ever more in the future. Thus
this factor of illusion will be a very important element in the design of the future tax
system.
The local tax system is also under review and a presentation was made by Izumi
HOSHINO (St. paul's University) about the rate system of Britain. He discussed how
the rate system developed in the historical context of Britain and what the advantages
and disadvantages were. He also mentioned the recent measures taken by the Thatcher
government on this matter.
Hiroo HARADA (Senshu University) presented his empirical study of the fixed
property tax. He discussed the raison d'etre of this tax and its incidence according to the
new theory developed by P. Mieszkowski. He then studied the distribution of theburden of the fixed property tax in Japan by categories of fixed property, by regions, andby income classes. In addition Akira SHINOHARA (Seijo University) introduced vari­
ous new theories to support personal expenditure tax vis-a-vis personal income tax.
In the field of financial problems of local public enterprises, Ken Osaka (Research In­
stitute of Tokyo Metropolitan Government) presented a paper entitled "conditions for
self-financing local public enterprises". Koji WAKAYAMA (Nara Women's
University) reported on "present conditions and tasks of local public enterprises".
Tadahsi USHIJIMA (Nagoya Municipal University) reported "financial problems of
local public enterprises- -a comparative study of large cities and medium-and-small
citiesThere were also other reports made for various subjects. But due to shortage ofspace, this report has concentrated upon the presentations on the common subjects forthe annual meeting of this year.

(Masahisa HAYASHI)-49-

JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)(1) The 24th annual general meeting was held at Kinki University, Osaka, on May 12
and 13 1984. The common subject under discussion was "The present conditions andfuture prospects of the trading company". Three members made presentations of theirown views regarding the activities of Japanese trading houses and suggested their sur­vival strategies.
Tamotsu T ANENO (Osaka College of Commerce) reported on the specific functionsof Sogo Shosha for Japanese trade. Katsumi SHIMADA (Sumitomo Trading Company)
analysed the activities of Sogo Shosha focusing on transactions and investment based
upon his own experience. Giichi MIYASAKA (Kyushu Industrial University) gave his
observations on management strategy in the period of business slump in Japanese trad­
ing houses.
Trading houses have played an important role for the development of Japanese trade.
However, they are now faced with serious problems. Structural changeover of industry
and trade has forced the trading houses to transfer their business and to develop new
frontiers. TANENO and MIYASAKA suggested that Japanese trading houses could
become information collectors and organisers for foreign business and multinational
business activities. SHIMADA analysed the sources of powers for trading houses andsuggested the reciprocal transactions with many companies making use of the corporategroup.
SHIMADA's suggestions will be helpful for the explanations of present difficulties of
the trading houses and for determining their survival strategies.
It can be said that the most important contributions of these presentations and discus­
sions around the common subject was the aproach towards the power sources of trading
houses from the economics of internal organizations. This research will be continued bythese three members.
Following three members reported their views regarding Japanese trade in relations
to the common subject.
Atsushi KAGEYAMA (Matsushita Electric Trade Company) introduced the present
conditions of Japanese electric industry. Takeshi AOKI (Japan Export Tr、ade
Organization) explained the structural changeover in the world markets of manufac­
tured goods. Masaru SAITO (Chuo University) introduced the present international
trade of technology.
Other subjects discussed at the annual general meeting were as follows.
Takeshi FUJISAWA (Kansei Gakuin University) reported on the integration ofmarketing and the resource strategy of multinational corporations. Shigeo IRIE
(Yokohama College of Commerce) introduced his economic analysis of export stabilisa­
tion policy for primary products. Yohichi USUI (Kyushu Kyoritsu College) reported on
the distribution channel and price formation of Japanese markets. Akio SAITO (Chuo
Gakuin University) introduced material on the export trading houses in America andpossible competition with Japanese enterprises.

-50-

Hiroyuki YAKUSHIJI (Kinki University) explained his views on transport costs andtrade theory. Hisao ONDA (Sumitomo trading Company) introduced the monopoly
and protectionism of the state foreign trade in the USSR. Norio IWANE (Kansai
Gakuin University) explained the position of A. de Montchretien in the history of
economic thought and commercial science.
Etsuji KINOSHITA (Shimonoseki City College) analysed the meanings of interna­
tional value theory. Takayoshi ARISAWA (Kinki University) reported on multinational
enterprises and political risk. Keizo UMEDA (Himeji College) introduced a paper on
the political risk and investment environment of China. Isami UCHIZAKI (Mukogawa
Women's University) reported the concepts of credit risk. Masao MATSUMOTO(Osaka College of Commerce) introduced credit risk, and credit information.
(2) The 25th annual general meeting was held at Nihon University in Tokyo on May
27 and 28. The common subject was "The past and perspectives for Japanese trade since
world war II".
Three members made presentations on common subject. Akio SAITO (Chuo
Gakuin University) presented his view on trade for reparations in response to the war.
Takashi ISHISE (Aichi Gakuin University) proposed several measures for importpromotion and suggested the establishment of free trade zone. Katsuki NISHIDA(Kumamoto University of Commerce) introduced the discussions on the liberalisationof service trade in the American Congress.
(Kiichi KAGEYAMA)-51-

THE JAPANESE SOCIETY OF INSURANCE SCIENCEThe Japanese Society of Insurance Science held its 1984 national convention at
Yokohama National University on October 14-15. Nine researchers presented theirreports. Among them, themes of seven reports, included in the Journal of Insurance
Science, are as follows, "Recent Trends of National Health Service in England" by
Norio MATSUTANI (Tohoku Fukushi University), "Individual Annuities Marketing
Strategies by Life Insurers, Competing with Other Financial Intermediaries" by Tadao
SHIBATA (The Research Institute of Life Insurance Welfare), "Problems of Risk
Facor in Automobile Insurance" by Masao SHIMAKURA (Automobile Insurance
Rating Association of Japan), "Wesen and Structure of Insurance" by Shinryo
TANIYAMA (Osaka City University), "Economies of scale in the Japanese Life Insur­
ance Business and the Performance of Life Insurance Firms " by Kenji MATSUOKA(Onomichi City College), "Legal Comparison and consideration of General Policy Pro­
visions of Life and Non-Life Insurance Companies in the Third Insurance Sphere" by
Akira YOSHIDA (Kyoei Life Insurance Companry) and "On the Abstract Quality of
Non-Life Insurance Merchandise" by Yoshifumi ANEZAKI (Kobe University ofCommerce).
Besides the above-mentioned study reports, presented at the annual convention, thefollowing reports were presented at the society's divisional meetings in the Kanto andKansai regions, "Some Particular Subjects for Private Pension Plan in Japan " by Kuni­
aki ISHINAZAKA (Komazawa University), "Merits and Demerits of New Public Pen­sion Scheme" by Kingo TAMAI (Osaka City University), "On the Principles of Hull
Insurance under the Aircraft Policy " by Keiji HABARA (Kansai University),"Asset/Liability Management in U.S. Life Insurance Companies" by Akira KOMAT­SUBARA (Nippon Life Insurance Company), "Social Insurance and the Economics of
Insurance" by Tadayuki OSHIO (Meiji University), "How to settle the Unrepaired
Damage to the Vessel?" by Kazuo MIYATAKE (The Tokyo Average Adjusting Office,Ltd.), "Revised Fire Insurance Policies (1st June, 1984.)" by Shuichiro SEKINE (Fireand Marine Insurance Rating Association of Japan), "The Trend of Japanese New
Family and Life Insurance" by Hiroshi MURATA (Japan Institute of Life Insurance),"Life Insurance Busiess in Information Society " by Etsuro AIZAWA (The Research In­
stitute of Life Insurance Welfare), "Some Problems and Present Trends concerning
Pension Schemes" by Yukio KAWAGUCHI (Nippon Life Insurance Comapny).
For the 1984 Korean Insurance Academic Society convention, the Japanese Society·sent Nobuo YASUI (Chuo University), Osamu NIMURA (Tokyo Metropolitan Trans­
portation Bureau). In return from the Korean Society, YANG SEUNG-KYU (Seoul
University) and CHENG HACK-SHIN (Chunnam University) attended the Japaneseconvention.
, Society Chairman Eiichi KIMURA (Hitotsubashi University) attended a workshop
meeting on'Violence and Insurance'of the AIDA, held in London on 11 July, 1984.
(Shoji NEDACHI)-52-

THE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS
The 43rd annual convention of the Japan Society of International Economics washeld at Kobe University on October 20 and 21 of 1984. The six papers on two common
topics of international monetary problem and market opening problem were presented.
The seventeen papers were read at the six free subject sessions.
In the discussion of international monetary problems, Masashi YUMOTO (Bank ofJapan), Yasuo NORITAKE (Kobe University) and Jun NISHIKAWA (Waseda
University) read papers. YUMOTO's paper is on exchange stabilization measures ofmain developed countries. He evaluated favorably some effectiveness of short run
market intervention by central banks mitigating the disturbing and wide fluctuation of
exchange rate. NORITAKE discussed the fiscal and monetary policies of the U.S. andJapan, and examined a development stage theory of balance of payments used in theJapanese white papers of economy and trade. NISHIKAWA observed the debt accumu­
lation of developing countries. He classified the future trend of debt on the basis of dif­ferent strategies possibly considerable.
In another part of the common topics of market opening of Japanese economy,
Minoru TANAKA (JETRO), Shoichi ROYAMA (Osaka University), and Yoshikazu
KANO (National Economic Research Association) presented papers. TANAKA ex­plained the new problem of service trade. He felt that the liberalizing of service trade
will face severer·restrictions, since services are more closely related with the culturaland traditional customs of each country comparing with trade itself. He emphasized theneed to modernize service industry and to systematize the liberalization policy on the in­ternational basis. ROYAMA discussed the opening of financial market. He categorized
the internationalization of financial market into four aspects of transaction, means, ser­vices and Yen currency. He stressed the difference between the financial internationalli­zation as a result and as a system, since it is possible that no active international financial
business increases whatever the financial system is opened. KANO developed his decto­rine insisting an agriculature liberalization. He believes Japanese agriculature can create
a comparative advantage.
One of the free subject sections is specially concerned on the recent development of
the theory of international economics. Makoto IKEMA (Hitotsubashi University) pre­sented his paper based on Modern Economics, and Yoshihiko MOTOYAMA (Kyoto
University) read his paper from the view point of Marxian Economics. IKEMA stressed
the success of international economics followed on the framework of general equilibri­
um analysis, and suggested a necessity to promote the research on partial equilibrium
analysis, and demand studies rather than supply side topics. MOTOYAMA examine thecurrent argument on the unequal distribution of trade gains, and evaluated W.A. Lewis
as a founder of theory of unequal exchange. He also tried to combine Sraffa's and Marx­
ian theories.
Other papers in free subject sessions are as follows: Six papers covered area studies two papers on Asian-Pacific region by lppei YAMAZAWA, Takeshi NOHARA,-53-

Hiroshi NAGATA, and by Kinya ONODA, Akira HIRATA; three papers on Zaibatsu
in India by Shoji ITO, in Thailand by Akira SUEHITO, in Korea by Tamio HATTORI,
and trade-debt ofCOMECON by Masumi HAKOGI.
Three empirical studies are on steel trade by Yasuhisa KOHAMA, Hirokazu
KAJIWARA, on technology of MNC by Takushi HAYASHI, on debt crisis by Koji
OKUDA, and market opening by Norihito TANAKA. Papers based on Marxian analysis
are rent studies by Hideo SATO, and system analysis by Toshio IYOTANI.
In the area of theoretical analysis using tools of modern economics are three: macro­
policy by Shoji NISHIJIMA, on intra-industry trade by Shigenori YAMAMOTO, andtariff effect under float exchange by Keiichi UMADA.
The next annual convention will be held at Meiji University on October 26 and 27,
1985, the main theme being "Forty years of World Economy - Reporospect andProspect".
(Ken'ichi ODAWARA)- 54-

THE JAPAN SOCIETY OF MONETARY ECONOMICS
The Autumn General Conference of 1983 was held at Doshisha University in Kyoto.
The main theme, on which four papers were presented, was'Financial Innovation in
Japan'.
Tadashi SHIGENARI (Bank of Japan) argued that financial innovation in Japanbegan to accelerate from about 1973, when government bonds began to be issued invast quantities. As a result, the authorities were forced to ease the stringent regulations
on interest rates. Regulations of deposit interest rates, however, still continue, whichmakes it profitable to invest in long-term securities, so that a substantial lowering of theshare of the deposit banks has resulted. When complete de-regulation comes, depositinterest rates will become linked to the market rates, which will tend to make thedemand for money more inelastic. To achieve a given reduction in the money supply, it
may become necessary to raise the interest rates to higher levels than heretofore, which
will affect the national income, which will in turn reduce the demand for money andthen the money supply. The lead-lag relationship between the money supply and the na­
tional income may be reversed and monetary targeting may have to be considered in the
new light.
Takeshi SAITO (Fuji Bank) said that financial innovation in Japan has taken the fol­lowing four forms: (1) appearance of new financial instruments such as the composite
deposit account and the medium-term national bond investment trust (2) credit cards
and automatic transfer machines as well as the all bank data communication and thecommunication network services, (3) computerisation, (4) inauguration of quasi­
banking services by credit-sales and securities companies. These innovations have been
prompted by the massive issue of government bonds and the emergence of big financial
surpluses in the corporate business sector. The metropolitan banks, however, havebeen unable to take full advantage of these developments because of the regulations of
the interest rates on deposits and the strict separation of the banking and the security
businesses. Thus, they have clamoured for de-regulation. However, if liberalisation
goes too far and eventually blurs the fundamental distincition between deposit banks
and non-bank financial intermediaries, this may jeopardise the soundness and safety of
the financial system.
Koichi MINAGUCHI (Nomura Securities Co.) pointed out that the corporate bondmarket is lagging behind in financial innovation. Two restrictions particularly are imped­ing its progress. The first is the stipulation that a fixed percentage of the outstanding
bonds must be redeemed annually by calls to the sinking fund. This regulation,
however, was partially lifted in October 1983. The second is the very stringent reguire­ments imposed upon the issue of unsecured bonds. At present only 26 companies havequalifications to issue them. Other problems to be faced in the future are as follows;pressure from foreign countries for the complete liberalisation of the Japanese capital
market is increasing, the establishment of the interest futures market is an urgent
necessity and the formation of the Treasury bills market is also a pressing task.
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Shoichi ROYAMA (OSAKA University) argued that the indirect finance and the
supply of liquidity through the bank-client relationship were the two features whichcharacterised finance during the high-growth period. Financial innovation has affected
the latter trait, but the indirect financing ratio has not come down to any marked extent.
The massive issue of government bonds in the face of continuance of interest regula­tions has given rise to a large discrepancy between the yields on long-term securities anddeposits. The new financial media, such as GENSAKI (bond transactions with
repurchase or resale agreements) and medium-term national bond investment trust,
represent efforts to connect these markets with different interest rates. In West Germa­
ny steps were quickly taken to lift the interest rate regulations, so that no radical change
took place. In the U.S., where deposit rate control remained despite rapid inflation, ex­treme financial innovation ensued. Thus, it is desirable that the authorities in Japan
should maintain flexible attitudes and introduce elasticity to the structure of the interest
rates.
The Spring General Conference of 1984 was held at Yokohama Municipal
University. The common topic was'external aspects of finance'on which four papers
where presented.
Ryuichiro TACRI (Aoyama Gakuin University) argued that the internationalisationof finance is proceeding apace in Japan. The internationalisation of the yen also hascome on the agenda. Its merits consist in the seignorage to be gained and the shifting of
the exchange risks to the non-residents. There are costs involved, however. They are:(1) the liquidity dilemma, which is that Japan must maintain deficits on the overall bal­ance of payments to supply liquidity to the world, but that this may weaken the confi­
dence placed in the yen, (2) possible impediments to the efficient monetary
management, and (3) costs involved in fostering the growth of the open money
markets. A more fundamental problem is that the multiple key currency system is an in­herently unstable one. It seems inevitable, however, that Japan should become a key
currency country. Already short-term funds are pouring into Japan, while her long-term
capital export is rapidly increasing. There is no need, however, for Japan to take steps toexpedite this process.
Masahiro AKIYAMA (Ministry of Finance) said that the transition from high tostable growth has caused a fundamental change in the flow of funds, that is, huge sur­pluses have appeared in the corporate business sector, while the government and theoverseas sectors have come to run large deficits. Correspondingly, Japan is now running
big surpluses in the current balance of payments, which must be invested abroad. Also
the Japanese business companies are now large issuers of bonds in foreign capital
markets. The business of the financial institutions is thus being rapidlyinternationalised. They have also embarked upon large-scale international money
market dealings. From 1978 to 1983 Japan exported $124.7 billion of long-term capital,
which was financed by the current account surpuls ($29.5 billion), by net borrowings ofshort-term funds ($27.3 billion) and by the inflow of long-term capital ($62.9 billion).
Japan now has net liabilities on the short-term and net claims on the long-term, whichshows that Japan is now performing the functions of the world's banker.

-56-

Zenta NAKAJIMA (Bank of Japan) pointed out that the flow offunds between Japanand the rest of the world has registered marked increases from about 1980.
Nevertheless, the correlation coefficient between the Japanese and the Euro-market
interest rates is only about 1, because the spot-forward spreads quickly adjust tochanges in the interest rate differentials. In contrast, the Japanese long-term interest
rates move broadly in parallel with those in the U.S. This of course reflects the brisk
movement of long-term funds. Thus, the authorities' influence upon the long-term
rates is limited, but the easy money policy has prompted long-term funds to flow out,
which lowered the exchange rate, so that exports expanded and the export-led recovery
set in. Thus, the monetary policy has been effective. There is a danger, however, thatthe exchange rates may exhibit movements quite unrelated to the fundamentals, as issuggested by the bubble theory. Another problem is the development of the Euro-yen
market. When the residents borrow money from this market, the supply of money will
no doubt increase. The supply of high-powered money, however, will not be increasedby this. Thus, the authorities will not necessarily lose its control lever.
Shinichi GOTO (Mitui Bank) said that, in the wake of the coming into force of the
new exchange control act, the residents'foreign currency deposits, their borrowings ofshort-term impact loans, their investments in foreign securities and their issues of for­eign currency bonds have registered phenomenal increases. The non-residents' bondand share dealings also have reached sizeable proportions of the total transactions in theJapanese stock exchanges. The internationalisation of the yen, however, has not madeany prominent progress. The Euro-yen deposits were only 1.4% of the total Euro­
currency in June 1983. The yen accounted for only 3.9% of the world's official foreignexchange reserves at the end of 1982. On the other hand, banking is becoming verymuch internationalised. At mid-1983 36.8% of the metropolitan banks'earning assets
were international ones. Moreover, the administrative guidelines which have inhibitedthe growth of the Euro-yen market are now being eased bit by bit. As a result, it is ex­pected that the Japanese banks will in future become subjected to fierce cempetition
from foreign banks in all aspects of banking and finance.
(Shizuya NISHIMURA)-57-

THE ACADEMIC ASSOCIATION FOR ORGANIZATIONALSCIENCE
During the academic year 1984-85, the Association held two national conventions, aswell as monthly seminars and in addition to publishing a quarterly journal of"Organizational Science".
An annual meeting of the Association was held at Gakushuin University in Tokyo on
October 6 and 7 1984, under the theme, "The Creativity and Innovativeness ofOrganizations". Nowadays, the issue of innovation is becoming an important topic
among Japanese organizations. Particularly technological innovation, becomes a strate­
gic matter for survival. Several topics were raised including organizational culture forcreativity, self-organizing, and research & development (R&D) management.
A total of eleven papers were given and these, together with the discussions following
them, clarified the nature and course of innovation in Japanese organizations, which is
the most important achievement of the national meeting. The content of the papers
given are summarized as follows.
At the morning of October 6, two papers were presented:
1. "Renewing Organizational Culture and Organization Development" by Koichiro
KOBAYASHI (Toyo University), and 2. "Self-organizing" by Yasuhiko TAKAHARA(Tokyo Institute of Technology). The first paper conducted an empirical and theoretical
study on the effect of culture change on organizations. He found that existing culture
become a serious barrier for organization change. The second paper addressed the issueof self-organizing principle by formulating mathmatical and cyberetic model.
At the afternoon session, three paper were given. The first paper was "Creativity andOrganizational Evolution" presented by Tadao KAGONO (Kobe University).
KAGONO conducted an empirical research on a certain R&D laboratory, and tried toconstruct a theory of organizational evolution. According to K. Weick's theory, evolu­tion is consisted of threee stages, that is variation-selection-retention. KAGONO
stressed the importance of variation stage for innovation. And, the third paper was pre­sented by Tadashi SASAKI (Sharp Corporation). Dr. SASAKI is an acting vice presi­
dent of "Sharp Corp.", and he is responsible for R&D of the company. SASAKI
reviewed the history of CMOS chips development in Sharp. And, he stressed the valveof introducing the heterogenity into R&D personnel to facilitate creativity.
On October 7th, Michiya MORITA (Gakushuin University) presented the day's first
paper, titled "Strategy and Innovation". He studied Japanese camera industry and inves­tigated the competitive strategies of Japanese camera companies. He concluded thattechnological innovation played an important role in competition among thesecompanies. Th second paper, "On the Organization for Creative Activity: the Case of
the Small Group", was presented by Sadato AKIYAMA (Tokyo Institude ofTechnology). He surveyed the theories of the small group by psychological point ofview. How members interact with in a small group, how they feel, what outsomes would
be raised through mutual group activities,and so on. These topics were told from theo­
retical view.
-58-

At the afternoon session of the day, four papers were given. The first paper was,"Comparison of U.S. and Japan; on R&D Management of High-Technology Industry ",which was presented by Kiyonori SAKAKIBARA (Hitotsubashi University). He com­pared the career of R&D personnel in computer companies of both U.S. and Japan. His
empirical research discovered that Japanese researchers were more oriented to productdevelopment than their U.S. counterparts. he stressed that the Japanese company had
to be more sensitive to basic research. The second paper was presented by Kazuyori
KANAI (Hirosaki University), and titled "Innovative Adaptation by Small-sizedCompanies". He did a qualitiative study of three Japanese small business firms. Since
these companies had a scarce resources, he concluded, that concrete strategy, clear
philosophy, venturous culture, and strong top leadership were important for
innovation. The third paper, titled "Venture Business; It's Strategy and Organization",
was presented by Hideichiro NAKAMURA (Senshu University). NAKAMURA
reviewed a current trend of Japanese venture business, and analyzed niche strategy andflexible structure of venture companies. The final paperof the national conference waspresented by Yoshiya TERAMOTO (Meiji-gakuin University), entitled "Joint Develop­
ment by Small Companies; the Study of Innovative Activity by Interorganization
Network". He studied network activity by small firms. They organized a so called"Techno Plaza", "Techno Forum", or "Techno Consortium" to develop new technolo­
gy jointly. The networking activity between the small firms was quite informal. This rela­tion facilitated autonomous innovation by these small companies.
We had another big conference, called "The National Seminar Meeting", which washeld at Aoyama-gakuin University in Tokyo on June 8 and 9, 1985. Members of the
Association presented a total of 21 different papers on this occasion. A major charac­
teristic of the meeting was a ceremony for the 1st "Award of the Association for Orga­nizational Science" of 1984. The award was given to the book "Comparison of Manage­
ment between U.S. and Japan" written by T. KAGONO, I. NONAKA, K. SAKAKIBA­
RA and A. OKUMURA, published by Nikkei Shibun-sha. The book was also publishedby Northholland in English, titled "Strategic vs Evolutionary Management; A U.S.
-Japan Comparison of Strategy and Organization" in 1985.
It. terms of monthly seminars, four research reports were presented. The first was" The Integration of the Individual and the Organization" by H. TAKAGI (Keio
University), the second was "Atom and Whole: From the viewpoints of Whitehead andBarnard" by M. MURATA (Musashi University), the third was "Dilemma ofDecentralized organization" by Y. KANEKO (Hitotsubashi University), and finally,
the fourth was "A New Approach for Diagnosis of organizational Culture " by T.
OHSAWA (Recurit, Inc.).
(Akihiro OKUMURA)-59-

JAPAN SOCIETY FOR PERSONNEL AND LABORRESEARCH ACTIVITIESThe Japan Society for Personnel and Labour Research organized an annual national
convention and regional meetings at different places each year, and board meetings todetermine and promote various academic activities. The common topic of the national
convention, was "contemporary challenges and responses of labor-management rela­tions in the era of drastic structural changes."
The 14th National Convention was held at Asia University in Tokyo over the two-day
period, June 9th and 10th, 1984. Th chosen common theme, "issues and reactions oflabor-management relations in the era of structural changes", encompasses a broad
range of problems which labor-management relations are faced currently. The relevant
problem areas include technological change, demographic changes and employment,
wage determination and corporate behavior, aging and employment participation and in­formal group activities in corporate organization, and quality of working life etc. At thenational convention, selected members made reports on each of these basic aspects,
which were then followed by intensive panel discussions and open dialogue between
panelists, reporters and members.
Initiated by the national convention, the theme of our common interest has been fur­ther followed up and elaborated by several regional conferences which were held later inthe year.
The 14th Annual National Convention
Common Theme
Session 1.
"Technological Innovation and Industrial Relations in an International Perspective"
Makoto HARADA (Kyushu University)"Contemporary Issues of Employment and Unemployment and Reactions of Employers
and Employees - Enrichment of the Working Career - "Yasuo KURAHARA (The Japan Institute of labor)
Session 2.
"Japanese Industrial Relations as Reflected in Wage - Determination - Wage Spilloverand Industry-Wide Organization -"Mitsuyoshi GOTO (Shibaura College of Technology)"Aging and Responses of Employers and Employees - Occupational Ability and Em­
ployment Security - "Takeshi CHUJO (Doshisha University)"Participation in Management, Small Group Activities - Implications for Labor Union
Movement - "Shuji ISHII (Komazawa university)"Qualitative Improvement of Working Life and Industrial Relations - How to deal
with'Diseases of the Advanced Nation'- "Manabu MINE (Hosei University)-60-

Session 3.
"Environment Changes and Industrial Relations Responses"
Taishiro SHIRAI (Hosei University)"Industrial Relations Systems in a Period of Transition "Goro MORI (Nihon University)
Free Topics
Session 1.
"Evaluation of the Adoption of Japanese Style Industrial Relations in Singapore"
Teruo HARADA (Senshii University Hokkaido College""Effective Utilization of Human Resources in the Internal Labor Market. - Empirical
Analysis oflnternal Promotion - "Shozo INOUE (Nagasaki University)
Session 2.
"'Strikes'in Yugoslavia - with special reference to the Enlargement of Labor Union
Functions in 1974, New Constitution, and 1976 Consolidated Labor Law - "Kiyoshi KASAHARA St. paul's University)"Issues and Responses of Labor and Personnel Management with Increased Introduc­tion of Micro Electronics (ME)"
Isao HARAGUCHI (Senshu University)"Traditions and Innovations - A Search for New organizational Principles beyond
Bureaucracy - "Kenji OKUDA (Sophia University)
Session 3.
"Productivity Improvement and Wage Increases at the Level of Enterprise - Rela:tion­
ship between Increases in Value Added Productivity and the Wage Increases - "Nobuo SUEKI (The Japan Productivity Center)"Current Situation of Minimum Wage System - On Industry-wide Minimum Wages
Tomio MAKINO (Nihon University)"Issues of Occupational Security, Health and Industrial Relations"
Masatake MASAME (Tokyo Labor Standard Office)Session 4.
"A Study of the Behavior of Female Managers "Masanaka HATTORI, Fusako BABA and Koichi ONO (Asia University)"Empirical Comparative Study of Behavior of Japanese and United State's Managers"
Masao HANAOKA (Daito Bunka University)"Empirical Study on Managerial Spans III"
Mamoru SANO, Yoshitoshi EMI and Naohito CHINO (Aichi Gakuin
University)
Summary and Debate"Issues and Responces oflndustrial Relations on an Era of Transition"
Shinichi TAKEZAWA (St. Paul's University)
Makoto HARADA (Kyilshil University)-61-Masumi TSUDA (Hitotsubashi University)
Makoto SAKURABAYASHI (Teikyo University)
Tadashi NISHIKAWA (Nippon Kokan Co., Ltd.)
Koji OKUBAYASHI (Kobe University)
Yuichi YAMADA (Meiji University)(Haruo SHIMADA)-62-

JAPAN SOCIETY OF POLITICAL ECONOMY
The 32nd annual convention of the Japan Society of Political Economy was held at
Chuo University on 29th and 30th, September, 1984. The common theme of this meet­ing was'The Political Economy of Military Expansion and Disarmament'. This theme
was extensively discussed in a plenary session for all on 30th. The second session on'Imperialism' in the first afternoon was designed to be linked with the common theme.
There were four more sessions held on the first day reflecting the wide range of ac­cademic interests among members, besides a general concern with the common theme.
The two morning sessions were devoted to free topics. The first session in the afternoon
was on℃apitat: and the third session was on'Socialism'.
In total, 13 papers were read and followed by discussion on each of them in five ses­
sions on the first day. Their topics and reporters were as follows:
The Session on Free Topics (1); chaired by Sai-ichi MIYAZAKI (Tokyo Women's
Christian College)
1. Problematik of "The Theory of Fetishism", by Kotaro YAMAMOTO (Anindependent).
2. Critiques of Political Economy from Structuralism, Symbology, and Economic
Anthropology, by Kiichiro HIRANO (Japan University of Social Welfare).
The Session on Free Topics (2); chaired by Naomichi HAYASHI (Osaka Universityof Economics and Laws)
1. The Formation of Classes and the Problems of Division of Labour - Laying Stresson Schultz, Ure, and Babbage - , by Yoshihide OKABE (Kanto-Gakuin University,
A Graduate Student)
2. Business Cycles in UK before the World War I, by Kazuo TOKUE (University of
Ibaragi)
Session 1. On Capital ; chaired by Ikuya FUKAMACHI (University of Kyushu) andTeinosuke OTANI (Hosei University)
1. The Task and the Method of the Theory of Value-Form, by Kiyoshi YAMANOUCH(University of Tolyo, A Graduate Student)
2.'Money Capital and Real Capital' in the Theory of Credit - In Relation with Theories
Preceding Marx - , by Yoichi KAWANAMI (University of Kyushu)
3. The Theoretical Problems of Service, by Haruo KANEKO (Tokyo Metropolitan
University)
Session 2. On Imperialism; chaired by Masao KIHARA (Kochi Women's College) and
Mitsuhiko TSURUTA (Chuo University)
1. The Development of Post-War US Imperialism and her Foreign Economic Policies- From'Bretton Woods Agreement' to'Marshall Plan' - , by Hiroshi MAKINO(Chuo University)
2. On the Influence of Militarization of Economy on Reproduction, by Ensho TEI(Korean University)-63-3. Military Expansion and a Military Base Economy - The Current Situation and theProspects of the Base Economy in Okinawa -, by Motoyoshi IMAMURA(University of Ryukyu)
Session 3. On Socialism; chaired by Kazuo NONOMURA (Chiba College ofCommerce) and Heihachiro OSAKI (University of Yokohama)
1. The Development and the Taks of the Economic Reform in China- The Problems
on Expanded Autonomy of Industrial Firms -, by Shozaburo SAKAI (Chuo
University)
2. The Substitute for'Profit-Persuit', by Yuzo TANAKA (Ryukoku University)
3. Semi-Eternal Existence of Commodity Production in a Socialist Economy, by Sei
FUJITA (Osaka Prefecture University)
A full day symposium on the common theme'The Political Economy of Military Ex­
pansion and Disarmament'on the second day was chaired by Yoshikazu MIYAZAKI(Tokyo College of Economics), Jun IKEGAMI (University of Kyoto) and Makoto
ITOH (University of Tokyo). Three papers were initially read to lead the symposium.
1. Japanese Military Industries- Their Present and Trend - , by Takao KAMAKURA(University of Saitama). This underlined that militarism in the contemporary capital­
ism has become an important 'weapon' also for economic war among advanced
capitalist countries. Although Japanese output of military industry is still relatively
small, just beyond one trillion yen, or 0.3% of the total industrial output, its weight in
the heavy industry has grown up to almost 10%, making up a core portion of giant
monopolistic firms in the high-tech heavy industries. Japanese own industrial interest
as well as the political relation with US can not any more be neglected as the basis forJapanese militarism.
2. The Problems of the State Budget for Military Expansion- In the Light of Political
Economy-, by Tomoyoshi SUMI (Hosei University). This emphasized that the ab­solute amount of Japanese military expenditure became already the seventh largest
among the advanced capitalist countries, in spite of the Article 9 in our Constitutional
Law and the traditional political upper limit of 1% against GNP. It increased by
92.97% in 1977-82 and was increasing rapidly in 1983 and 84 as well. There is also
technical disguise in the state budget for substantially larger military expenditures.
The request from US for Japanese military expantion represents American attempts
to restructure the global military control system by lessening her own direct economic
burden and increasing Japanese burden so as to weaken Japanese economic competi­
tive power too.
3. Political Economy of Military Expenditure, by Shigeto TSURU (Hitotsubashi
University, An emeritus professor). The recent problems concerning this topic, ac­cording to Tsuru, can no more be confined to the capitalist contradictory institution­
alization of futility or technological spin-off effect. It has become crucial for us to con­sider how to reverse the deepening'balance of terror'. A root of danger is to regard
the difference in socio-eonomic systems of the West and the East as mutually abso­
lutely hostile. it is therefore important to clarify that both social�ystems can peaceful­ly coexist and possibly converge into a more similar character in the future. It is also-64-essential for us to raise a question what really to be defended by military forces.
Following these three reports, various comments were presented by three expecteddiscussants; Akio SAKAI (Kansai University), Akira KOMATSU (Tsukuba
University), and Naoki TANAKA (The Association for National Economic
Researches). For instance, the role of US-Japan trade friction to strengthen Ameri­can pressure for Japanese miliatry expansion, the US business interest for cold war,possibility for both social systems not to converge together, or the different trends
for information societies between the West and the East were mentioned among
others. The general discussion involving many member participants on the floor ac­
tively continued along these points.
All these proceedings, together with roports from four regional meetings of the sub­divisions of the Society, were published in The Annual Bulletin 22'Political Economy
on Military Expansion and Disarmament'(July 1985, Aoki-Shoten)
The 33rd annual convention of the Society is arranged for 19th and 20th, October
1985, at University of Kyushu, upon a common theme "Ownership and Managementin Contemporary Giant Corporations".
(Makoto ITOH)-65-

THE POPULATION ASSOCIATION OF JAPANThe Population Association of Japan was founded in 1948. The aim of the Associa­
tion is to study the demographic phenomena from the disciplines, of economics,sociology, anthropology, geography, ecology, medical and biological sciences, etc., andhopefully to present a new idea of population science. The main activities of the Associa­
tion are to publish a bulletin and to hold an annual meeting. The bulletin is "Jinkogaku
Kenkyu" (The Journal of Population Studies), published on an annual basis. The latest
issue is no. 8 for 1985.
The 36th Annual Meeting of the Association was held at the Tama campus of Chuo
University, Tokyo, on June 1 and 2, 1984. The steering committee was organized byProfessors Minoru OKADA (chief), Asao MIZUNO and Hiroshi OHBUCHI of Chuo
University.
As 1984 was the 150th anniversary of the death of T.R. Malthus, the program com­mittee of the Association (chief: Hiroshi OHBUCHI) decided to concentrate on topics
on Malthus in this meeting. A symposium and a commemorative address were planned
as plenary sessions concerning Malthus.
The symposium was entitled "Malthus and the World Today." The chairmen were
Yoichi OKAZAKI (Institute of Population Problems) and Jin MORIOKA (Komazawa
University). The following three reports were presented there:
1. Malthus in the Developed Countries today: by Minoru OKADA (Chuo University)
2. Malthus on the Less Developed Countries: by Hiroshi OHBUCHI (Chuo University)
3. Malthus in the Socialist Countries: by Tadao YOSHIDA (Meiji University)
OKADA, the first speaker, believed that Malthus was relevant in the developed
countries today for three reasons: first, that Malthus had already expected thedemographic transition, i.e. low birth and death rates; secondly, that varied population
problems in the post-war developed countries demonstrate the restoration of Malthus,
if we recall that Malthus recognized the danger of both over- and underpopulation; andlastly, that the Malthusian theory of balanced growth of agriculture and industry is par­ticularly relevant in the present world economy.
OHBUCHI discussed the conditions of the economic take-off in the less developed
countries. Using the Malthusian logic, it may safely be acknowledged that one of these
conditions is to increase continuously the power of producing food in a broad sense, andanother condition is to exert some control over population growth. The former can besatisfied by balanced economic growth, together with civil and political liberty, and theextension of general education. As to the latter, Malthus himself recommended themoral restraint as a means of fertility control, but if he rose from the dead now and ob­
served the present state of the less developed countries, he would no doubt encourage
the adoption of artificial measures for population control.
YOSHIDA, the last speaker, observed that Malthus's ideas were very much alive
even in the socialist countries which were set up along Marxist lines. Low consumption
level, low birth rates, labor shortage and deficiency of food in the Soviet Union and Eas-

-66-

tern Europe are not different from the vice and misery in Malthus's own terms. And
besides, China is a typical laboratory of the Malthusian population theory. After several
changes in population policies, China is carrying out the so-called "one child policy" inorder to remove the evils of overpopulation. But this policy is too drastic to control
fertility, and is quite different from the Malthusian policy. In the near future, China
would be convinced of her error and then would learn a great deal from more moderatemeasures proposed by Malthus.
Another plenary session was the commemorative address by Ryozaburo MINAMI,
the former president of the Association, entitled "Malthus and Myself ". His interesting
address was autobiographical, and focused on relations with Malthus's theory in his aca­
demic life for sixty years.
In this meeting, there were three special sessions A, B and C. Session A "Role ofSimulation Models in Population Studies" was organized by Makoto ATOH (Instituteof Population Problems) and was chaired by Minoru MURAMATSU (Institute of
Public Health). The following three reports were presented: "A Bio-demographic
Model of Fertility", by Shigemi KONO (Institute of Population Problems) and hiscolleagues; "The Meaning of Rogers' model and Its Application to Japanese Data", by
Zenji NANJO (Fukushima Prefectural Medical College), and "An Economic­
Demographic Model", by Mitoshi YAMAGUCHI (Kobe University).
Session B "Labor Supply and Population Structure", Organizer: Asao MIZUNO(Chuo University), Chairman: Yoshikuni Ishi Oosai University). Three reports werealso given: "Economic Growth and Labor Supply Behavior of Married Women", by
Yoshio HIGUCHI (Keio University); "The Labor Supply Behavior of Married
Women", by Eiko NAKANO (Institute of Population Problems), and "Labor Supply
Behavior of Aged Workers", by Hiroyuki KANEKIYO (Asia University).
The last session C "Analytical Frameworks of Mortality", Organizer: Kazumasa
KOBAYASHI (Nihon University), chairman: Akira KOIZUMI (University of Tokyo).
Reports were as follows: "New Dimensions in the Study of Mortality", by Shigemi
KONO and Shigesato TAKAHASHI (Institute of Population Problems), "Changes byYear of Mortality and Socio-cultural Indices", by Fumio YAMAMOTO (Nakamura
Gakuen College), and "Environmental Resistance and Measures to Alleviate it" , byTsuguyoshi SUZUKI (University of Tokyo).
The program also included 6 general sessions, where 27 reports were presented in all,covering topics on marriage and family, labor force participation, mortality and life
table, migration, and population theories.
The 21st regional meeting in Kyushu was held in August 1984 in Kurume, and the22nd in February 1985 in Nagasaki.
(Hiroshi OHBUCHI)-67-

THE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICS, We would like to report here on the 34th and the 35th annual meeting of 1984 and1985.
The 34th meeting was held on May 25th and 26th, 1984 at the College of Commerce,
Meiji University, Surugadai, Tokyo. The main theme in 1984 was "The Present Situa­tion and Problems of Public Utilities (including Public Enterprise)", which has been va­
riously reported. Active discussions followed.
"The Problems and Future View of Japan National Railway" was reported by Ryohei
KAKUMOTO (Transportation Journalist, formerly of JNR), under the report of Adhoc
Research Council of Temporary Public Administration. "The Birth of Information &Communication Industry, and review of Public Utility Status" was made by Koichiro
HAYASHI (Bureau of Planning, Nippon Telegraph and Telephone Public Corporation)with critical comment about traditional Public Utility Economics. "Present Situation
and Problems of Public Utility Rate Making" was presented by Hiroshi SASAKI(College of Business Administration, Kobe University), especially related to"Automatic adjustment article", stressing criticism of traditional public utility rate regu­
lation model. "Recent Problems of Public Corporations in Japan" was reported by Koyo
TERAO (College of Comerce, Kansai University), also under the Report of the adhoc
Research Council.
Related to transportation; "Present situation and Problems of Management Diversifi­
cation in Private Railway Industry" was presented by Haruo ISHII (Management
Division, Research Bureau of Transportation), "Present Situation and Problems of
Truck Transport" was reported on by Hiroshi OKADA (College of Economics, Dokkyo
University), and "Formation Process of Road Transport Act in Japan" was made by
Tsuneo ISHI (College of Commerce, Meiji University).
Also related to Gas Industry, "Management Diversification of Osaka Gas Company"
was presented by Hiromi KURAMITSU (New Field Development, Osaka Gas
Company), and "Present Situation and Problems of LPG pipe line Industry" was report­
ed by Ichiro MATASHIRO (College of Business Administration, Senshu University).
Other interesting topics were reported as follows, "Study of Political Economy
Aspect related to Price Regulation" by Hirotaka YAMAUCHI (Keio University),"Recent Situation of Public Sector Accounting in U.S.A." by Shoichiro KIKUCHI(College of Economics, Nihon University) and "A Study Comapring the Efficieny ofLocal Public Enterprise and Private Enterprise: Railway Industries "by Masaru MIYAJI­
MA & S.D. LEE.
The 35th meeting was held on June 7 and 8, 1985 at the Otaru Commerce College on
the theme of "Technology Innovation and Public Utilities". Others were free topics,
but very exciting reports. The main theme were reported by following reporters related
to Public Utility Industry. "Technology Innovation and System Operation of Electricity
Company" by Hitoshi ITO (Hokkaido Electricity Power Comapny), "Technology Inno­
vation of Gas Supply related to LPG pipe line Industry" by Ichiro MATASHIRO, and-68-

"Reorganization of Telecommunication Industry and its Influence towards Rate Struc­ture" by Shigehiko NAOE (Research Institute of Telecommunication Economy).
These reports stimulated vigorous discussion.
Other free topics were as follows.
"Study on Scale Economy of Public Sectors" by Masaru MIYAJIMA (Tokyo Uni­
versity of Technology, "Cost Structure of Telecommunication Industry" by Muneya
SATO(Professor,

CollegeofCommerce,

Yokohama

Municipal

University).

"Municipal Public Utility Accounting and Public Sector Accounting" by Takashi
KAWARADA (College of Commerce and Economics, Kobe Commerce University),"Tendency of Public Sector Accounting in Great Britain - related to VFM Audio -", byHideki FUJII (College of Commerce and Economics, Kinki University), "Principles ofRate Making related to Municipal Public Utilities - comparative study of total costprinciple and capital cost approach -" by Shoichi FUJITA (Hirosaki University),"Recent Deregulation Policy of Natural Gas in U.S.A." by Shigeru TAKEDA (Tokyo
Gas Company) and "Privatization Problem of Okinawa Elctricity Company" by Yodai
ISHIGAKI (Okinawa Electric Works Comapny).
These reports were published in Journal of Public Utility Economics Vol. 36, No. 1
No. 2 & No. 3 related to the 34th meeting. Also the 35th meeting's reports will be pub­lished in Journal of Public Utility Economics Vol. 37, No. 1, No. 2 & No. 3.
The main theme which we are planning to discuss about in 1986 is as (ollows.
"Environmental Change of Public Utilities and Administrative Strategy".
(Tomoji ICHINOSE)-69-

THE JAPAN SECTION OF THE REGIONAL SCIENCEASSOCIATION
In 1984, the Japan Section of the Regional Science Association held its own annual
domestic conference, sponsored the third Japan-Australia Regional Studies Workshop,
and issued "Studies in Regional Science - the Papers and Proceedings of the Japan Sec­tion of RSA -" (Chiikigaku Kenkyu), Vol. 14.
I. CONFERENCE
The 21st Annual Conference of the Japan Section of RSA was held at Kagoshima
University of Economics and Sociology in Kyushu from Dec. 4 to 6, 1984. A number ofregional scientists participated from all over Japan. The papers were good and discussion
lively, making the conference a success.
The main theme entitled "Regional Development in Highly lnformationizedSociety", and four special themes entitled
1) "Internal Migration"
2) "Regional Development and Environmental Conservancy"
3) "Regional Disparities"
4) "Transportatlon
were adopted for this conference. A symposium under the main theme was held.
In the symposium on "Regional Development in Highly lnformationized Society",
three reports were presented. It started with the report by Yasuhiko NOBARA(Highway Industrial Development Institute). He proposed the construction of Infor­
mation Network System (INS) utilizing facilities of expressway network and competingwith other systems proposed by NTT (Nippon Telegraph and Telephone), so-called
Second NTT, and so on.
Second reporter was Hirotada KOHNO (University of Tsukuba), who pointed out ofcharacteristics of the so-called'highly informationized society'and emphasized the in­_fluences of electronic technical mnovations on structural changes in regional
economics. He also suggested the necessity for a rapid transportation system such as ex­pressway network in order to make the interregional commodity flows smooth.
Finally, Yoshinobu TAKAHASHI (Kagoshima University of Economics andSociology) analyzed the impact of INS on industrial activities and economic society, andstressed that it was necessary to overcome the information gaps among regions and to
reduce information costs to ensure the development of regional economies.
The fruitful and constructive discussions between these three reporters and the five
discussants were highly appreciated by all participants.
In the sessions of four special themes, there were presented three papers in the ses­sion of "Internal Migration", four in each session of "Regional Development and Envi­ronmental Conservancy" and "Regional Disparities", and three in the session of"Transportation".
In addition to the above twelve very interesting papers presented under the heading-70-

"free topics".
Finally, the 22nd annual domestic conference will be held at Otaru College of Com­
merce in Hokkaido from Sept. 28 to 30, 1985. The main theme for the conference willbe "Development oflnformationized Society and Fosterage of Regional Industries".
II. THE JAPAN-AUSTRALIA REGIONAL STUDIES WORKSHOPThe 3rd Japan-Australia Regional Studies Workshop was organized by the Australia­
New Zealand Section of RSA and held at Melbourne, Australia on Dec. 10, 1984.
Eight papers were presented and a panel discussion on aspects of further Japan­
Australia Cooperation in Regional Science was held. Many constructive and enlighten­
ing opinions were exchanged among participants from both countries. The fourth Japan­
Australia Workshop will be organized by the Japan Section of RSA at Honolulu, Hawai,
USA on August 11, 1985 before opening of the 9th Pacific Regional Science Conferenceof RSA from August 12 to 15, 1985.
III. PUBLICATION"Studies in Regional Science - the Papers and Proceedings of the Japan Section of
RSA-" (Chiikigaku Kenkyu), Vol.14 was issued in Dec. 1984.
Contents of Vol. 14 are as follow.
1) "On Methods of Reflecting Citizen Opinions in the Process of Residential Environ­mental Planning - A View from Systems Analysis -", Sachihiko HARASHINA (Tokyo
Institute of Technology)
2) "Benefits of Water Quality Improvement in Municipal Water Supply", Kiyoko
HAGIHARA (Rissho University) and Osami NAKASUGI (The National Institute forEnvironmental Studies)
3) "A Definition of Transport Benefits - Advocating Weakly Equivalent Variatfon(WEV) -", Hisayoshi MORISUGI (Gifu Univesity)
4) "On the Improvement Planning of the Residential Environmental Facilities arisingfrom Rapid Increase of Urban Population - a Case of Tomakomai City -", Etsuo
YAMAMURA (Hoddaido University), Masaaki IWASA (Iwate University) and Masay­
uki MITOBE (Hokkaido Government)5) "Macroscopic Analysis of Demography and Land-Use in Central Area of Metropoli­tan Region", Takao FUKUCHI, Makoto YAMAGUCHI (University of Tsukuba) and
Sukehide KABAYAMA (Tokyo Metropolitan Government)
6) "Economic Analysis of Demand Behavior Related to Nature Conservation: a Case of
Shiretoko Nalional Trust", Yoshifusa KITABATAKE and Shuzo NISHIOKA(National Institute for Environmental Studies)
7) "A Study of the Change in Youths View of Rural Community", Byung Dong LEE(Dongook University, Korea)
8) "Changes of Residential Distribution with Time", Yuji ITAYA and Hiroshi
TAKEDA (Tohoku University)
9) "On the Evaluation of Urban Transporation System Change", Komei SASAKI(Tohoku University)10) "A Topic for Further Investigation in the Regional Science - Frontier of Re-Growth-71-

Strategies for the Mammoth City-", Hirotada KOHNO (University ofTsukuba)11) "System Analysis in Regional Science and its Future Perspective", Isao ORISHIMO(Toyohashi University of Technology)12) "Contemporary Regional Science - Problems We Face -", Junjiro TAKAHASHI(Keyio University)13) "On the Technological Model of Regional Planning ", Hideo IGAYASHI(Hokkaido University)14) "An Analysis of Recent Urbanization in Japan - An Approach with the concept ofStandard Metropolitan Employment Areas-", Hiroyuki YAMADA (Kyoto University)and Kazuyuki TOKUOKA (Kagawa University).
(Katsuyuki KURASHIMO)-72-

THE SOCIETY FOR ECONOMIC STUDIES OF SECURITIESThe Society held its 21st national convention at Doshisha University in Kyoto City
on June 2-3, 1984, while on August 31 and September 1, the 22nd national conventionat Hokkaido University in Sapporo City. In addition, nine regional study meetings were
held; four in the Kanto district; four in the Kansai district and one in Kyushu.
The common theme at the 21st national convention was "Financial Innovation and
the Securites Market ", and it aimed at studying the quality of transformation Japan's
securiteris market as a result of the financial liberalization and innovation of recent
years.
For the common theme, three reports were presented, "Some Problems of Financial
Innovation in Japan" by Nobuhiro Saijo (The Conference for Securities Associations)"Internationalization and Liberalization of of Japan's Capital Market" by Akira ARAI(The Japan Bond Research Institute), and "Financial Innovation and Securities
Market" by Masataka NAKAJIMA (Kobe Gakuin University).
In addition, the following seven reports were given during the convention, "British
Industry and the London Capital Market before and after the 1st World War " byTakashi IIDA (Hosei University), "The Rise of American Industrial Securities
Market" by Hirokazu SAGOH (Osaka City Universi.ty), Fuzzy Portfolio Selection " byYasunobu OHTA (Keio University), "The Time Lags between Fluctuation in Stock
Price and Some Time Series associated with IT" by Kaoru ICHIKAWA (Chiba
University), "Economic Significance of Forward Operation on Stock Price Index " byKazuo OCHI (Association of Osaka Stock Exchange Regular Members) and"Corporate Finance in South Korea and Unofficial Financial Market" by Chan HUI(Daewoo Securities Company, Korea), "Mutual Relation of Internal System of,Corporation, Business Forms and Monopolistic Form; by Takashi MORI (Hokkaido
University).
The common theme for the 22nd national convention was "International Compari­son in the Bond Market" . The theme was chosen in consideration of the advancementof innovation on finance and securities market throughout the world. Also it intends tostudy the innovative situation of the bond market particularly in the phase of compre­
hensive financial reforms. Later, in a similar trend, the Japan Society of Monetary
Economics discussed the general situation of financial innovation at its convention.
For the common theme, the following four reports were presented.
"The International Bond Market" by Joji KOBAYASHI (Japan Securities ResearchInstitute)"Current Status and Proplems of the Bond Market in South Korea" by Yn Yt SUN(Wonsei University, Korea)"Some Problems on the U.S. Government Securities Market" by Sadakazu ISHIHARA(Otaru College of Commerce)"The Liberalization and Limit of Japanese Bond Market" by Yoshio KUMANO(Senshu University)
In addition, the following seven reports were given during the convention.

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"Financing for Railroad ReliefPolicy of the WFC (American Wartime Finance Corpo­
ration during World War I) and the Bond Policy" by Shinya IMURA (Chuo University)"The Corporation and the Internal Formation of Capital" by Tokuji MINOWA (Chiba
Junior College)"Problems ofOwned Capital Ratio and Recent Tendency in West Germany" by Masaru
USHIYAMA (Kyushu University)"On the International Bonds Issue by Japanese Companies" by Kyohei IRIE (Japan
Securities Research Institute) and Yasuhiro YONEZAWA (University ofTsukuba)"The Formation and Movement of Fictitious Capital" by Mitsuo ITOH (T9hoku
University).
The annals of the Society, published in May, 1985, refered to the activities conductedduring 1984. Besides the afore-mentioned study reports at the national conventions(though they represent only a part of the whole), the Annals includes the summarized
contents ofthe reports, given in regional study meetings, as follows.
"Ownership and Control of Large Corporations in America" by Hisashi MASAKI(Doshisah University)"Changing Bond Market" by Akira ARAI (The Japan Bond Research Institute)"On the Alteration to the Effect of Stock-Listing in the U.S.A." by Ryozo KAMIKI(Osaka College ofCommerce)"Securities Commission" by Joji KOBAYASHI (Japan Securities Research Institute)"Development of Securities Market and Securities Monopoly" by Yasuhiko HATTORI(Osaka City University)"A History of the Provision on New Issue of Stock in Postwar Japanese Commercial
Code" by Katsuhiro MATSUMURA (Ritsumeikan University)"On the International Bonds Issue by the Japanese Companies " by Kyohei IRIE (Japan
Securities Research Institute)"National Bond Operation and Bank" by Akihiro IWAHASHI (Osaka City University)"A Note on Investment Advisory Business" by Eisuke MUTOH (Nikko ResearchCenter).
The 23rd national convention is scheduled to be held at Aoyama Gakuin University
in Tokyo on June 21-22, 1985; and the 24th national convention will be held at Seinan
Gakuin University in Fukuoka City on November 9-10, 1985.
The year of 1986 marks the 20th anniversary of the foundation of the Society, andthe national convention will be held in Tokyo to celebrate the occasion.
(Yoshio KUMANO)-74-

ASSOCIATION FOR THE STUDY IN SOCIALISTECONOMIESIn the past two years the conventions of the Association have taken up themes relat­
ing to the analysis of the current situation of socialist economies.
The 24th annual convention of the Association was held on June 8 - 9, 1984, at
Osaka City University, to discuss the common theme, "The Small Managerial Units in
Socialist Economies". Seven researchers presented reports, as follows,
1. Satoshi MIZOBA TA (Kyoto University - postgraduate)- "The Function of Small and Medium Enterprises in the Contemporary Soviet
Economy".
2. Masayuki TSUKADA (Ritsumeikan University - postgraduate)- "Current Phase of Economic Reforms and Contemporary Brigade Form of Work Organization in the U.S.S.R.".
3. Kunihiko AOKI (Tohoku University)- "The Internalized Non-Agricultural Private Sector in the GDR".
4. Kimio HIRAIZUMI (Institute of Devloping Economies)- "Development of Small Firms in Hungary".
5. Katsuji NAKAGANE (Hitotsubashi University)- "China's Agricultural Collectivization Reconsidered".
6. Hiroyuki KATO (Osaka University of Foreign Studies)- "China's Rural Industries after the Cultural Revolution, 1977 - 1982".
7. Ayako HIRANO (Keio University)-"The small Business in the Socialist Economy - a Case Study in China".
MIZOBATA studied the role of small scale enterprises, classified as'independent

type' and'supplementary type', in Soviet industries. He examined problems of the
management system and working/living conditions in connection with their future
development.
TSUKADA analyzed the problems of establishing linkage between the results ofgroup labor and payment for labor as the crucial point of the Brigade system recently
introduced. He appraised it positively for enhancing the trend of self-management in
the allotment of both labor and income.
AOKI explained the promotion policy for small scale private management, conductedby the GDR government and parties in recent years, and clarified various characteristicsof those private enterprises, regarded as being internalized in the system, by using acase study.
HIRAIZUMI introduced the current situation of small management in. both agricul­
tural and non-agricultural fields in Hungary, and explained the significance of thepromotion policy for small management which is being launched as a part of the compre­
hensive reforms of the management system, to go with the objectives, such as conquer­ing sellers'market, strengthening competitive power and guaranteeing real income.
NAKAGAME presented a perception that the rapid expansion of'the contractsystem in production' in China in recent years has been mainly based on voluntary,ー
翠 4it-g・g-75-

choice by farmers. With such a view in mind, he presented a different hypothesis, con­cerning the collectivization in the 1950s, opposing various conventional hypotheses(such as'reliance on traditional community','gradation','spontaneity'and'increase ofadaptabi'iity').
KATO marked the development of rural industry in China in recent years and ana­lyzed the current situation. Then he examinedthe transition of rural industry during thetime of cultural revolution, and characterized it mainly as the transition from the incli­
nation for self-sufficiency to the inclination for economic-efficiency on the one hand
and, as the transition from direct supervision by the administration toward independent
business management on the other one.
HIRANO said that the establishment of business autonomy in rural areas gave rise to
output-linking contract system, with a farm family as the unit, exceeding the level ofproduction gangs. She emphasized that it brought a great change upon the system of'distribution according to work', with the introduction of cost accounting of production
goods. Then she pointed out that the independent development of Chinese socialism
would depend on the result of the inducement policy by the central administration in
the fields of private accumulation and free market.
Mikio FURUKAWA (Kyoto University, postgraduate) delivered a report on "theSocialist Economic Models of Eastern Europe". Based on a comparative analysis of thetheoretical models of 0. Sik, B. Horvat and J. Kornai, he stressed the importance of'human nature' and'human labour'factors in considering such models.
The 25th annual convention of the Association was held on June 8-9, 1985, at
Tohoku University in Sendai; the common theme being "The Second Wave ofEconom­
ic Reform". Four researchers presented reports, as follows:
1. Toshisato NISHIOKA (Kansai University - postgraduate) "Large Scale Economic
Experiment and Improvement ofEconomic Mechanism in the Soviet Union".
2. Namiko AKITSU (Yokohama National University) "Concerning the Long-Term
Program forEconomic Stabilization in Yugoslavia".
3. Masahiro TAGUCHI (Kyoto University - Postgraduate) "Current Phase ofEconom­
ic Reform in Poland".
4. Shuji KOSUGI (Komazawa University) "The Object and the Aim of Economic
Reform in China".
NISHIOKA commented on the 1983 decision regarding industrial management in
the Soviet Union. Explaining that no significant achievement has been seen in thematter of the large-scale economic experiment, except in the execution of contracts, hereferred to the weakness, observed in the fields of business authority and workers'
self-management.
AKITSU introduced the main objectives followed in the long-term program, such as
the achievement of the market principle; the recovery of a unitary market; the improve­
ment in decision-making process; and the conversion of development strategy. Upon
explaining various difficulties occurring in the enforcement process, she indicated that acertain'non-ideological'revision was underway to modify the decentralization policy.
TAGUCHI explained the investment policy, oriented for efficiency advancement-76-

and structural improvement. It was prepared after the excessive investments in the
1970s had been reviewed and reexamined. He stated that the deterioration of facilities
due to the shortage in investment, and the stagnation of structural improvement havebecome serious problems.
KOSUGI emphasized that the macroeconomic features of the Chinese economy
differ largely from the ones in the Soviet Union and East Eruropean nations. He pointed
out some factors which restrict or hinder the course of economic reforms, such as theseriousness of employment matters; supply system of materials and energy; unstable
and low facility standard; differences of management conditions among enterprises;
deficit finance and shortage of executives.
Besides there were four additional reports presented at th convention.
Koushi TAKESHITA in his report "A Simulation Analysis of Yougoslavic Self­
management Economy" argued that any policy target to improve on inflation, unem­
ployment and external balance can not be achieved unless certain modifications are
introduced in the basic structure of the self-management system itself.
Yong Gon PAK (Korea University) in his report "The Present Stage of Socialist Con­·struction in Korea and Specific Features of the Joint-venture Law" traced the economic
development stages in D.P.R.K. and explained the main.contents of the joint-venture
law recently adopted in the country.
Kiyoshi SHIMOHARA (Hosei University, postgraduate) in his report "The 1923-24
Balance and the 1-0 Table " pointed out that, although the checker-pattern method was
no more than an element of secondary importance in the 1923-24 balance, quite inten­
sive debates on the balance were done in the twenties relating to inter-sectoral analyses.
Yoshimasa TSUJI (Waseda University) in his report "The Development of Local
SOVNARKHOZs in 1918-19" dealt with the workers'control movement after the Octo­
ber revolution. He gave light on the background of the then-local SOVNARKXOZs as astage of triangular conflicts among the Bolshevik government striving for a state- capi­
talistic set-up, the factory committees with a strong syndicalistic tendency and the strata
of executives and highly ranked personels.
In the general conference held during the convention Prof. Noboru MIYANABE waselected to the chair of the association.
In recent years it has become a practice to hold on the eve of the convention a re­search conference for quantitative analyses on socialist economies. The main subject of
the 1985 meeting was "the 1-0 Tables of European Socialist countries".
(Yuzo TANAKA)-77-

THE SOCIETY FOR THE STUDY OF SOCIAL POLICYI.
The 68th Convention of the society was held on May 19-20, 1984 at Aoyama Gakuin
University in Tokyo. The common theme was "Labor Movements Today in the Devel­
oped Countries". Labor movements in the develope,d countries, from the end of the
1970s until now, have been different from the ones in the preceding period. The purposeof the common theme was to compare labor movements in six developed countries andseek characteristics of each country. Six members presented reports on labor move­ments in six countries.
Takao SAITO (Gunma University) picked up labor union movement in Italy, andpointed out that it was forced to make a certain withdrawal from the level which it
achieved during the period, known as the'hot autumn', from 1969 to 1972. Hirokuni
TABATA (The University of Tokyo) analyzed a series of revision in the labor Jaws,
under the Mitterrand administration, and reported of the possible significance these .
reforms would bring on labor-management relations in France.
Masami NOMURA (Okayama University) reported about struggles concerning thecollective agreements, developed by labor unions of metal industry in West Germany.
His study was based on his fact-finding survey which he and his group conducted there.
Katsuyoshi TAKAHASHI (Kokugakuin University) took up the Grunwick Dispute,during 1976-78, in England, and pointed out that the ideology of the president of the
Grunwick film processing laboratory, where the dispute occurred, and his insistence onreforms of labor-management relations, were similar to the 'Thatcherism'which ap­
peared later. Referring to this, he emphasized the change in British labor movements.
Tatsuru AKIMOTO (Josai University) told about the current status and prospect of
the American labor movements, while referring to the reduction of the UAW union
members, and their concessions. Lastly, Makoto KUMAZAWA (Konan University)
reported on the labor movements of public sectors in Japan, and pointed out the severe
anti-union feeling surrounding them. He emphasized that such antagonistic feeling isvery characteristic of Japan, different from other developed countries.
Debates on the six reports were actively conducted with Hideo TOTSUKA (The Uni­
versity of Tokyo) as the moderator. We witnessed some unusually heated exchanges be­
tween the members on the floor and the reporters. There seemed to exist strong
interest, or apprehensions, among many members on the current situation of labor
movements, which resulted in some exciting discussion.
Six reports abstracted here were being edited with the moderator's introduction in
the Annals of the Society for the Study of Social Policy No. 29, titled "Labor Move­ments Today in the Developed Countries", and published in May 1985.
II.
The 69th Convention of the Society was held at Hirosaki University in Aomori
Prefecture, on September 29-30, 1984. The common theme was "Protection and-78-

Equality for Women Workers", and seven reports were presented. The Japanese
Government was trying to take a new look into the Labor Standards Law which stipulat­
ed protection of women workers, and was taking a decisive step toward establishing theEqual Employment Opportunity Bill. As such movements drew a great deal of interest
from the Society members, this subject came to be chosen as the common theme. (Thebill passed and became law on May 17, 1985).
Emiko TAKENAKA (Osaka City University) expressed her opposition to handlingthe issues of women labor, just from the general aspects of low wages or unskilled labor.
She presented her summarized view of various problems under the theory of political
economy concerning the women labor. Hisako HIROTA (Japan Women's University)
reported on the actual situation of employment of women, based on statistics. Yuji
KATO (Senshu University) reported on the current status of women workers, from thepoint of unstable employment.
Toshio KONNO (Fukushima University) gave a report on the actual situation of
women workers in West Germany and relating regulations, and presented the mattersas references for studying similar problems in Japan. Teruko TANABE (Meiji
University) presented her study which grasped the matter of the Governmental Equal
Employment Opportunity Bill from the overall view of the labor administration in
Japan, and she referred its connection with so-called Japanese labor-management
relation.
Masahiro KUWABARA (Niigata University) also referred to the Equal Employment
Opportunity Bill, and summarized the characteristics, by comparing it with the legisla­tion and precedents in the United States. Lastly, Hisashi MIYAJIMA (Gakushuin
University) criticized the Governmental Equal Employment Opportunity Bill and the
opposition parties' counterproposals, and he presented his own legislative plan.
Seven reports abstracted here were collected into the book titled "Protection andEquality for Women Workers", published through Keibun-sha in September 1985.
(Koshi ENDO)-79-

SOCIO-ECONOMIC HISTORY SOCIETY

The 53rd annual meeting, attended by more than 400 members, of the Socio­
Economic History Society was held at Seijo university, Tokyo, on May 1984, 12 and 13.
On the first day, papers were read, at the three subcommittee meetings, on all sorts

of topics in the field of socio-economic history. On the second day, five papers were
read, and discussions followed, around the the main theme "Formation and Structureof the Modern Asian Trading Sphere - from the Second Half of the 19th Century to the
Pre First World War Times".
The following are the summaries of the five papers.
1. K. N. CHAUDHURI (London University), the guest speaker, "From Pre-Industrial
Trade to Colonial Trade in Asia 1700-1850; an Essay in interpretation".
"Pre-modern trade was essentially derived from socially-determined demand arisingout of cultural habits and interpretations, but of course, the force of demand operated
through market froces and relative prices. Nineteenth-centrury international trade,on the other hand, was founded on the supply and production side of the world
economy … The transformation touched both the direction and composition of goods
exchanged. The payments mechanism itself gave rise to induced changes andbrought into being the famous triangular commercial relations between India, China
and Britain, which developed into a true multilateral systems of trade and payments
mechanism during the second half of the nineteenth century. Imperialism as an
economic force fused together with its political manifestations to form the mostpowerful historical phenomen of the time". (In his use of technical terms pre-modern
seems to be almost equivalent to pre-Industrial Revolution).
2. Kaoru SUGIHARA (London University), "Patterns and Development of Intra­
Asian Trade, 1880-1913 " .

" During the second half of the nineteenth century most regions of Asia became colo­nies of Western powers or were forced to open their ports to foreign trade with themthrough unequal treaties. As a results Asia's trade with the West grew and Asian
economies become more integrated into the world market". "However, there wasalso rapid growth of intra-Asian trade". "Most of the literature on Asian economic
history has been written within the intellectual framework of the Western impact
versus each region's response to it, and the element of intra-regional economic inter­course in Asia has not been properly assessed in a wider comparative perspective.
However, Japan's industrilization and the development of South-Eas、t Asia's riceeconomy, for example, were very much the two sides of the same coin. Asia under
the Western impact, therefore, should be analyzed and interpreted as a single
economic unit that has produced its own development path".

3. Takeshi HAMASHITA (Tokyo University), "Silver Circulation in the Modern
Asian Trade Network".
"The modern history of Asia has been considered from the viewpoint of Western
intrusion. Consequently, the history of modern Asia per se has been replaced by de-80-

scriptions of Euro-Asian relationships". "The internal ties that united the Asianarea, an area defined by its own historical characteristics, might be overlooked oreven regarded as a residue of an'ancient regime' and, as such, target to beabolished".
"The issues of traditional intra- Asian trade relations can be classified under the fol­lowing two headings.
(1) The'Junk'trade and its creation of an Asian-wide trade network. (2) Silver
Circulation and traditional trade settlement using silver as a supporting factor of the
Aisan trade network. The characteristics of Asian modernization can be clarified bystudying these two".
4. Reita KAWAKATSU (Waseda University), "The Evolving Structures of Asian Mar­
kets for Cotton Goods ".
This paper is an attempt to investigate what seems contradictory phenomena ob­
served in nineteenth century Asia; the increasing influx of British cotton manufac­
tured goods into Asia on one hand, with the development of indigenous cotton textile
production in the region on the other".
"Some newly found evidence is introduced which showsn qualitative differences be­
tween British and Asian cotton products". These two different kinds of cottons had
two different markets. "Those different structures of markets were…products oflong historical evolution."
5. Sakae TSUNOYAMA (Wakayama University), "Intra-Asian Trade of Rice andJapan in the Later nineteenth Centry/".
"Rice is a traditional food in Asia". "Rice, however, has become a world commodity
since the middle of the nineteenth century". "Having opened the country to foreignintercourse in 1958, Japan started as an exporter of her such primary products as raw
silk, tea, marine products, rice etc". "Japan found" her rice markets "largely inEurope and Australia, not in SouthEast Asian countries and China. In this point
Japan's rice trade was quite different from that of Siam and French Indo-China ".
"But Japan has soon become a big rice importing country". This transformation fromexporting to importing country was the result of her industrialization.
(lsao HOJOH)-81-

JAPAN STATISTICAL SOCIETY
The activities of the Japan Statistical Society are concerned with both the theory andthe application of statistics. These include government statistics and computational
methods, the education and training of statisticians and lead the Society into the arenaof exchange of information of many disciplines such as economics, demography, naturalsciences, technology, medical sciences and the environment.
The seminal period of the Society in the 1930s were characterised by the work of theeconomic statisticians and, as a result, many of the current members are involved ineconomic and econometric researches. Although the Journal of the Japan StatisticalSociety are designed to receive papers on a wide range of topics, it has received papers
mainly on mathematical statistics but Annual Conventions usually discuss the many
reports from economic statisticians.
The fifty-second Annual Convention held on July 25-27, 1984 at University ofTsukuba was no exception. Out of twenty six sessions, seven were devoted solely toeconomic statistics and econometrics and many of the other sessions, though concernedwith other theoretical topics, in fact concentrated on econometric aspects.
Abstracts of all the papers submitted beforehand were printed in the Nihon Tokei
Gakkai Koen-hokoku-shu (Proceedings of the Fifty-second Convention of the Japan
Statistical Society). This publication covered one hundred and sixty one abstracts andfilled some 365 pages. Summary versions were also published in the Journal of theJapan Statistical Society, 14-2, December 1984.
During the shared contributor sessions the following topics in economic statistics
were discussed:
1) Employment and unemployment. (Chairman. Sadanori NAGAYAMA of the Health
Promotion Foundation and former director of the Bureau of Statistics of the Prime
Minister's Office)Six contributors presented five papers. Two of these were particularly concerned withthe recent controversy over the accuracy of unemployment ratios in Japan. Minezo
FUZITA (Bureau of Statistics) clarified the definitions used for employment andunemployment statistics and Takao HOSONO (Ministry of Labour) explained therecent change made in sampling methods.
2) Practice and progress in making 'seasonal' adjustments. (Chairman. Toshiyuki
MIZOGUCHI of Hitotsubashi University)
Ten contributors presented eight papers on topics covering the techniques and related
theoretical questions involved in the seasonal adjustments used in government andBank of Japan statistics.
In addition, Naoki KITAYAMA from the Bureau of Statistics chaired a session
devoted to government statistics where eleven contributors presented seven papers
which shed light on the many problems concerning government statistics now inpractice.

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This led to a major discussion on the development and use of government statistics.
3) The development and use of Survey Statistics. (Chairman. Kei TAKEUCHI of Uni­
versity of Tokyo)
Eight contributors presented seven papers. Hiromi MORI (Hosei University) andYoshiro MATSUDA with Setsuo Suoh (Hitotsubashi University) reported the resultsof their two user study using sample survey method. Hidenori KIMURA (Bureau of
Statistics) and Akihiko ITOH with Shinji YAMAMURA (Government Administra­tion Agency) gave a report on the present government information dissemination
service systems.
4) Voting Statistics; the politics of statistical analysis and model building. (Chairman.
Yukio TAKAHASHI of Tohoku University)
Ten contributors presented seven papers.
5) Statistical analysis of patterns of diseases. and the causes of death in demographic
Statistics. (Chairman. Shun'ichi YAMAMOTO of the Tokyo Municipal Institute ofGeology)
Twelve contributors presented nine papers.
6) The current position and future devleopment of statistical program packages.
(Chairman. Kimio MORIMUNE of Kyoto University)
Seventeen contributors presented eight papers.
And there were many other related topics and contributions which deserve the atten­
tion of economists.
One of the major features of this convention was the participation as reporters, chair­persons and discussants, of many government statisticians. For about ten years after theend of World War II, in both recruiting and discussion, there seemed to be no barriers
between universities and the government. But then some retardation of this good rela­tionship was observed. Now, after several years of efforts by the Society we havereached a new stage in mutual co-operation between government and academic
statisticians. The next target may be the mutual exchange of information with businessstatisticians.
(YoshirnMATSUDA)-83-

JAPAN SOCIETY OF TRANSPORTATION ECONOMICS
The unified theme for the 1984 annual convention was "The Devleopment of Post­
war Transportation Policy".
Six members of the Society presented reports at the annual convention, held on Octo­
ber 20.
Haruya HIROOKA (Hosei University) gave his report, "An Essay on Postwar Japa­
nese Transportation Policy". While evaluating that the postwar transport policy workedon the whole rather well, he insisted that the evaluation methods are important inreviewing the transport policy and verification is needed, in each era, for methods tograsp issues, direction to be pursued, as well as for other measures and performances.
He acknowledged various problems which remain including truck regulations, so far
ineffective; coastal shipping weakend by excess capacity; and the matter of faircompetition. But he pointed out the necessity to prepare evaluation standards in trans­
portation policy, which comprehensively responds to the intentions of the people
concerned.
Takahiko SAITO (Kinki University) presented his report, "Postwar Transportation
Polity and Coordination of Transport". He noted that the main theme of the transporta­tion coordination theory made a transition from a simple policy of car transportation
regulation in the initial stage into the theory of fare coordination for establishing aproper transport allotment system. It also changed into the equal-footing theory which
includes the burden of passage cost; then, in the course of time,it transformed from thetheory of comprehensive traffic system into the theory of pursuasive demand­
coordination. He showed that, in recent years, it has advanced into the theory of invest­
ment coordination which includes the diversion of road resources into public transporta­tion schemes.
Yukihide OKANO (The Univesity of Tokyo) gave his report, "The Paradox of Trans­
portation Regulation Policy - Intention of Regulation & Its Effect". He referred to theexistence of obstacles, preventing the optimization of the regulation policy, just like thedeficiency which exists on market. The revision of deficiency on market should betaken into consideration at the time of setting up the framework of market, even though
it may not be sufficient at that stage, and after that, it should be subjected to the compe­
tition on market. Such policy may receive a strong opposition from passive enterprisers
who try to maintain the current status, but it is certain to cause an important positiveeffect as management incentives. With such factors in mind, he pointed out the impor­tance of adjusting the time-schedule for easing regulation.
Shuhei KONNO (Fukui Medical College) criticized in his report, "National Land De­
velopment Planning and Transportation Policy". He said that the'Comprehensive Na­tional Development Plans'already adopted four times, did not necessarily cope with thechanges of the transportation market. Although it would be theoretically difficult to pre­dict traffic changes, some attempts at forward planning should be made. Therefore, heinsisted that the differences, between what the national land plan pursues and the targets-84--

of traffic policy, should be made clear to the public.
Eiichi TAWARA (Oita University) gave his report, "The Development and Prob­
lems of Regional Transportation Policy - A Case Study of the Kyushu Region". He
examined the relation of the changes on the traffic market with the traffic policy in the
Kyushu region. He noted that both factors must be considered in order to integrate the
Kyushu region.
Lastly, Junichi SUZUKI (Institute of Transportation Economics ) presented his
report, "How to Integrate the Market-Oriented Transportation Policy in the Inter-CityTransportation Market". He pointed out that, on the competitive market where the con­ventional transportation centering around railways has come to mix with the transporta­tion which includes air traffic, long-distance ferries, and'shinkansen'trains. He suggest­ed that the strict regulation policy, carried under the traditional administrative
guidance, should be transformed into an industrial policy that takes notice of the compe­
tition and cooperation, as well as independence and regulation.
Under free subjects, the following eight reports were presented at the convention.
Fumio TAKEDA (Express Higway Research Foundation of Japan) presented his
report, "Social Role of Express Highway Buses and Their Prospects". Misao SUGAWA­
RA (Tokyo University of Science ) gave his report, "Efficient Composition of Local
Transportation System". Kiyoshi NAKAMURA (Waseda University) presented his
report, "Trends of Productivity Analysis in the Transportation Industry". Under thetitle of "Study of the Method of Predicting Passenger Demand for Regional Airline",
Shigeru MORICHI, Toru TAMURA and Junichi KONDO (Tokyo Institute ofTechnology) discussed the regional airline, which currently attracts much attention,from the standpoint of passenger demand.
Nobuhiro ISHIDA (Doshisha University) had a report, "An Empirical Analysis of
Air Transportation", and Toru HATAHIRA's (Doshisha University) report was, "An
Estimate of the Economic Value of Time through Modal Choice". They both tried to
conduct theoretical analysis, using econometric method. Nobuhito HATA (Ryukoku
University) report was entitled "Qualitative Transfiguration of Physical Distribution
Industry". Lastly, Koshiro SHIMIZU, Masanao MOTOI and Toshifumi ISHI (Akita
University) gave their report, "Characteristic of Transportation for the Elderly", which
dealt with measures concerning drivers in the aging society.
(Junichi SUZUKI)-85-

List of Member Associations
THE JAPAN ACCOUNTING ASSOCIATION

日本会計研究学会• Established: 1937
• Number of members: 1,540• President: Kyojiro SOMEYA (Waseda University)● Publication: Monthly bulletin, "Kaikei" (Accounting)• Liaison Office of the Japan Accounting Association
c/o Moriyama Co., Hayashi Building, 1-10, Nishiki-cho, Kanda Chiyoda­
ku, Tokyo 101, JapanTHE AGRARIAN HISTORY SOCIETY

土地制度史学会• Established:1948• Number of members: 978• Representative Director: Kaichiro OISHI (University of Tokyo)• Publication: "TOCHI SEIDO SHIGAKU (The Journal of Agrarian
History) " - quarterly●

Agrarian History Society
c/o Institute of Social Science, The University of Tokyo
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, JapanTHE AGRICULTURAL ECONOMIC SOCIETY OF JAPAN

日本農業経済学会• Established: 1924
• Honorary members 20, regular members 1,169, associate members(students) 74, cooperative members 25
Chairman: Yuzuru KATO (Nihon University)• Publication: Bulletin of the Society, "Nogyokeizai Kenkyu" (Journal of
Rural Economics) - quarterly● The Agricultural Economic Society of Japan
c/o Business Center for Academic Societies
2-4-16, Yayoi, Bunkyo-ku, Tokyo 113, Japan

●

-87-

1985

THE JAPAN ASSOCIATION FOR ASIAN POLITICAL
AND ECONOMIC STUDIES

アジア政経学会• Established::1953• Number of members: 600● President: Shinkichi ETO (Aoyama Gakuin University)● Publication: "Asian Studies" - quarterly● Japan Association for Asian Political and Economic Studies
c/o Professor Saburo YAMADA,
Institute of Oriental Culture, The University of Tokyo
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan

JAPAN SOCIETY FOR THE STUDY OF
BUSINESS ADMINISTRATION

日本経営学会• Established: 1926
• Number of members: 1,840● President: Susumu KAIDO (Kobe University)● Publication: "Keieigaku Ronshu" - once a year
● Japan Society for the Study of Business Administration
c/o The Institute of Business Research, Hitotsubashi
Kunitachi, Tokyo 186, Japan

University

JAPAN BUSINESS ENGLISH ASSOCIATION {JBEA)

日本商業英語学会• Established:1934• Honorary members 8, regular members 177, supporting members 6, totalling
191
Chairman: Mikito NAKAMURA (Kwansei Gakuin University)● Publication: "Nihon Shogyo Eigo Gakkai Kenkyu Nempo (The JBEA
Annual Studies)" - once a year
● Japan Business English Association
c/o Professor Mikito NAKAMURA
Kwansei Gakuin University
1-bancho, Uegahara, Nishinomiya, Hyogo-ken 662, Japan

●

-88-

BUSINESS HISTORY SOCIETY OF JAPAN
経営史学会• Established: 1964
• Number of members; personal 655, institution 40• President: Keiichiro NAKAGAWA (Aoyama Gakuin University)• Publication: "Japan Business History Review" - quarterly● Business History Society of Japan
c/o Professor Moriaki TSUCHIYA
Faculty of Economics, The University of Tokyo
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan

JAPAN SOCIETY OF BUSINESS MATHEMATICS
日本経営数学会• Established:1959• Number of members: 107• President: Shinkichi SATO (Chiba Commercial College)● Publication: "Annual or Semi-Annual Report of Japan Society of Business
Mathematics"● Japan Society of Business Mathematics,
c/o Professor Kesato FUJISAWA, Kanagawa University
3-27, Rokkakubashi, Kanagawa-ku, Yokohama 221, Japan

JAPAN SOCIETY OF COMMERCIAL SCIENCES
日本商業学会• Established: 1951
• Number of members: honorary 6, ordinary 625, supporting companies 9● President: Ryusuke KUBOMURA (Nihon University)• Publication: "Journal of Japan Society of Commercial Science"- annually● Japan Society of Commercial Sciences
Kenkyu-to Building of Meiji University
1-1 Kanda Surugadai, Chiyoda-ku, Tokyo 101, Japan-89-

JAPAN SOCIETY FOR COMMODITY SCIENCE

日本商品学会• Established:1935• Number of members: regular members 287 including 7 foreigners, support­
ing members 4
Chairman: Yoshiro IIJIMA• Publication: Quarterly bulletin, " Shohin Kenkyo" (Studies on Commodi­
ties)● Japan Society for Commodity Sciencec/o Hitotsubashi University,
Kunitachi, Tokyo 186, Japan●THE SOCIETY OF ECONOMIC SOCIOLOGY

経済社会学会• Established: 1966
• Number of members: 325● President: Y oichi ITAGAKI (Asia College)• Publication: "The Annual of the Society of Economic Sociology"● The Society of Economic Sociology
c/o The Faculty of Social Science, Waseda University
1-6-1, Nishiwaseda, Shinjuku-ku, Tokyo 160, JapanTHE SOCIETY FOR THE HISTORY OF ECONOMIC THOUGHT

経済学史学会• Established:1950• Number of members: 792● President: Takuya HATORI (Kanto Gakuin University)• Publication: "The Annual Bulletin of the Society" - once a year●

The Society for the History of Economic Thought
c/o Faculty of Economics,
Kanto Gakuin University
Kanagawa-ku, Yokohama 236, Japan-90-

THE JAPAN ASSOCIATION OF ECONOMICS AND ECONOMETRICS

理論・計量経済学会• Established :1947• Number of members: 1,751● President: Takashi NEGISHI (Tokyo University)● Publication: "Economic Studies Quarterly"● The Japan Association of Economics and Econometrics
c/o Tokei Kenkyukai
1-18-16 Shinbashi, Minato-ku, Tokyo 105, JapanTHE JAPAN ASSOCIATION OF ECONOMIC GEOGRAPHERS

経済地理学会• Established :1954• Number of members: 630, Patronage members: 9• President: Tetsuro KAWASHIMA (Hannan University)● Publication: "Keizai-Chiri Gaku Nempo" (Annals of the Japan Associationof Economic Geographers) - quarterly● The Japan Association of Economic Geographers,
c/o Insitute of Economic Geography,
Faculty of Economics, Hitotsubashi University,
Naka 2-1, Kunitachi, Tokyo 186, Japan

JAPAN ECONOMIC POLICY ASSOCIATION

日本経済政策学会• Established: 1940
• Number of members; individuals 1,107, institutional organizations 4● President: Kojiro NUNO (Kobe University)● Publication: "Nippon Keizai Seisaku Gakkai Nenpo" (The Annals of theJapan Economic Policy Association) - annual● Japan Economic Policy Association
c/o Professor Kojiro NUNO
Kobe University
Rokkodai, Nada-ku, Kobe 657, Japan-91-

JAPAN FINANCE ASSOCIATION
日本財務研究会• Established :1977• Number of members: 370• President: Katsunosuke MOROI (Niigata University)• Publication: "The Annual Report of Japan Finance Association" - annually● Japan Finance Association
The Faculty of Business Administration
Kobe University
2-1, Rokko-Daicho, Nada-ku, Kobe 657, Japan
JAPANESE ASSOCIATION OF FISCAL SCIENCE
日本財政学会• Established : 1940
• Number of members: 580● Chairman: Masazo OHKAWA (Hitotsubashi University)● Publication: "Annual Report of the Japanese Association of Fiscal Science"● The Japanese Association of Fiscal Sciencec/o Hitotsubashi University
Naka 2-1, Kunitachi-shi, Tokyo 186, Japan
JAPAN ACADEMY FOR FOREIGN TRADE (JAFT)
日本貿易学会• Established: 1961
• Number of members: 302● President: Kunisuke OKAMURA (Nihon University)• Publication: "The Annual Bulletin of the Japan Academy for Foreign
Trade".
(Annual publication) JAFT News, 3 times a year
● Japan Academy for Foreign Trade
c/o Professor I. SAKURAI
Department of Commerce, Meiji University
Kenkyuto-BLDG # 840,
Kanda-Surugadai, Chiyoda-ku, Tokyo, Japan-92-

THE JAPANESE SOCIETY OF INSURANCE SCIENCE

日本保険学会• Established: 1940
• Honorary members 11 including two foreigners, ordinary members 732
including 22 foreigners, supporting members 56 organizations● Chairman: Eiichi KIMURA (Hitotsubashi University)• Publication: "Journal of Insurance Science" (Hoken-gaku Zasshi) quarterly● Japanese Society of Insurance Science
c/o The Life Insurance Association of Japan
4-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo 100, JapanTHE JAPAN SOCIETY OF INTERNATIONAL ECONOMICS

国際経済学会• Established : 1950
• Number of members: 1,000• President: Taro WATANABE (Oitemon University)● Publication: "The International Economy" - annualy● The Japan Society oflnternational Economics
c/o Professor Ken'ichi ODAWARA
Faculty of Economics, Jochi (Sophia) University
7 Kioicho, Chiyoda-ku, Tokyo 102, JapanTHE JAPAN SOCIETY OF MONETARY ECONOMICS

金融学会• Established: 1943
• Number of members: 672• President: Ryuichiro TACHI (University of Tokyo)• Publication: "Bulletin of the Japan Society of Monetary Economics " bi-annually●Japan Society of Monetary Economics
c/o Tokyo Keizai Shinpo-sha
1-4, Hongoku, Nihonbashi, Chuo-ku, Tokyo 103, Japan-93-

THE ACADEMIC ASSOCIATION FOR ORGANIZATIONALSCIENCE

組織学会• Established :1959• Number of members: individual members 1,021, company members 36• President: Susumu TAKAMIYA, (Sophia University)● Publication: "Organizational Science" - quarterly● Academic Association for Organizational Science
c/o Room No. 614, Department of Economics, University of Tokyo
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan
JAPAN SOCIETY FOR PERSONNEL AND LABOR RESEARCH
ACTIVITIES

日本労務学会• Established : 1970
• Number of members: 521• Representative director: Yoshiaki SHIMABUKURO (Toyo University)● Publication: "Series in Personnel and Labor Problems" - annualy● Japan Society for Personnel and Labor Research Activities
c/o Professor Yoshiaki SHIMABUKURO
Department of Business Administration, Toyo University
5-28-20, Hakusan, Bunkyo-ku, Tokyo 112, Japan

JAPAN SOCIETY OF POLITICAL ECONOMY

経済理論学会• Established : 1959
• Number of members: over 1,000● Chief Representative: Shigeru,TANESE (Hitotsubashi University)• Publication: "The Annual Bulletin of the Society of Political Economy" annually● Japan Society of Political Economy
c/o Professor Shigeru TANESE
Hitotsubashi University
Kunitachi, Tokyo 186, Japan-94-

THE POPULATION ASSOCIATION OF JAPAN
日本人口学会• Established : 1948
• Members: 292, honorary members 5, special members 3• President: Kazumasa KOBAYASHI (Nihon University)● Publication: "Jinkogaku Kenkyu" (The Journal ofPopulation Studies)● Population Association ofJapan
c/o Institute ofPopulation Problems
Ministry ofHealth and Welfare
2-2, 1-chome, Kasumigaseki, Chiyoda-ku, Tokyo 100, JapanTHE JAPAN SOCIETY OF PUBLIC UTILITY ECONOMICS
公益事業学会• Established : 1949
• Number ofmembers: regular members 306, corporation members 70● Chairman: Hisao SEKIJIMA (Seikei University)• Publication: "Journal ofPublic Utility Economics"• Koeki Jigyo Gakkai (The Japan Society ofPublic Utility Economics)
c/o Nikko Gotanda Bldg.
2-29-5, Nishigotanda, Shinagawa-ku, Tokyo 141, JapanTHE JAPAN SECTION OF
THE REGIONAL SCIENCE ASSOCIATION
日本地域学会• Established: 1962
• Number ofmembers: 574• President: Hirotada KOHNO (University ofTsukuba)● Publication: "Studies in Regional Science - the Papers and Proceedings of
the Japan Section of R.S.A. —" ("Chiikigaku Kenkyu" inJapanese) - annually● The Japan Section ofthe Regional Science Association
c/o Institute ofSocio-Economic Planning
University ofTsukuba
Sakura, lbaraki 305, Japan-95-

THE SOCIETY FOR THE ECONOMIC STUDIES OF SECURITIES
証券経済学会• Established: 1966
• Number of members: 364• Representative: Masao TAMANOI (Gakushuin University)● Publication: "Annals of Society for the Economic Studies of Securities" annuallr● Society for the Economic Studies of Securities
c/o Japan Securities Research InstituteTokyo Shoken Kaikan
5-8, Nihonbashi-Kayabacho 1-chome, Chuo-ku, Tokyo 103, JapanASSOCIATION FOR THE STUDYIN SOCIALIST ECONOMICS
社会主義経済学会• Established: 1963
• Number of members: 218● Chief Representative: Noboru MIYANABE (Hitotsubashi University)● Publication: "Bulletin of the Association for the Study in Socialist Econom­ics" - annually● Association for the Study in Socialist Economics
c/o Professor Masaaki KUBONIW A
Hitotsubashi University
Kunitachi, Tokyo 186, JapanTHE SOCIETY FOR THE STUDY OF SOCIAL POLICY
社会政策学会• Established: 1950
• Number of members: 793• Representative manager: Tsutomu HYODO (University of Tokyo)• Publication: "Shakai-Seisaku Gakkai N enpo" (Annals of the Society for the
Study of Social Policy)● The Society for the Study of Social Policy
c/o Professor Tsutomu HYODO
Faculty of Economics, University of Tokyo
7-3-1, Hongo, Bunkyo-ku, Tokyo 113, Japan-96-

SOCIO-ECNOMIC HISTORY SOCIETY
社会経済史学会• Established: 1930
• Number of members: 1,056• Representative Director: Kenichiro SHODA (Waseda University)• Publication: "Shakai Keizai Shigaku" (The Socio-Economic Hisotry) bi-monthly● Shakai Keizaishi Gakkai (Socio-Economic History Society)c/o Professor A. HAYAMI
Keio University
2-15-45, Mita, Minato-ku, Tokyo 108, Japan
JAPAN STATISTICAL SOCIETY
日本統計学会• Established : 1931
• Number of members: 1,123• President: Chikio HAYASHI (The Institute of Statistical Mathematics)• Publication: "Journal of the Japan Statistical Society" - bi-annually● The Japan Statistical Society
c/o The Insitute of Statistical Mathematics
4-6-7, Minami-Azabu, Minato-ku, Tokyo 106, Japan
JAPAN SOCIETY OF TRANSPORTATION ECONOMICS
日本交通学会• Established: 1941
• Number of members: 364 regular members including one honorary member(individual) and 34 special members (corporations)• President: Ken'ichi MASUI (Matsuzaka University)• Publication: "Kotsugaku Kenkyu" (Annual Report on Transportation
Economics)● The Japan Society of Transportation Economics (Nihon Kotsu Gakkai)
c/o Unyu-Chosa-Kyoku,
2-5-6, Kokubunji, Tokyo 185, Japan-97-

New membership 1985
JAPAN ASSOCIATION FOR PLANNING ADMINISTRATION
日本計画行政学会
DATE OF ESTABLISHMENT: 27 August 1977
OBJECTIVE:
To contribute to the development of scientific foundations for the "Planning admin­
istration" in both public and private sectors - a special term coined with a view tobridging the existent gap between planning (science and ideology) and administration(organization and technology)
NUMBER OF MEMBERS:
1,251 individuals, 148 research institutions, and 103 business corporations
REPRESENTATIVE:
Chairman: Saburo OHKITA (International University)
President: Hiroshi KATOH (Keio University)
ANNUAL MEETINGS:
Nation-wide meeting once a year, supplemented by annual meetings held by the 5regional branches (Chubu, Kyushu, Kansai, Chugoku-Shikoku, and Hokkaido)
PUBLICATIONS:"Planning Administration" - biannual (published by Gakuyo Shobo, Tokyo)
No 1 Approaches to Planning Administration, Nov., 1978
No. 2 Planning and Administration - the First National Meeting (on the Efficiency
and the Effectiveness in Planning Administration), May, 1979.
No. 3 Socio-economic Dynamism and Planning Administration, Nov., 1979
No. 4 Central and Local Entities of Planning Administration, I, Dec., 1980
No. 5 Central and Local Entities of Planning Administration, II, Jan., 1981
No. 6 Regional Problems in Planning Administration, July, 1981
No. 7 Softwares and Hardwares in Planning Administration, Oct., 1981
No. 8 Group Interests and Planning Administration, Nov., 1982
No. 9 Planning Adminsitration and Administrative Reform, Jan., 1983
No. 10 Private-Sector Vitality and Planning Administration, Sept., 1983
No. 11 Communication and Planning Administration, Nov., 1983
No. 12 Regional Strength and Planning Administration, Aug., 1984
No. 13 Planning Administration and Internationalization, Dec., 1984
No. 14 Planning Administration Towards the 21st Centruy, Aug., 1985
囀

ADDRESS:
Japan Association for Planning Administration
c/o Tokei Kenkyukai
Shinbashi 1-18-16, Minatoku, Tokyo 105, Japan-98-