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Capital as Will and Imagination: Schumpeter's Guide to the Postwar Japanese Miracle


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Mark Metzler is Fellow of Mitsubishi Heavy Industries Chair in Japanese Studies in the Department of Asian Studies and Professor in the Department of History, College of Liberal Arts.
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With this book, Mark Metzler continues his investigation into the economic history of twentieth-century Japan that he began in Lever of Empire. In Capital as Will and Imagination, he focuses on the successful stabilization of Japanese capitalism after the Second World War. How did a defeated and heavily damaged nation manage reconstruction so rapidly? What economic beliefs resulted in the "miracle" years of high-speed economic growth? Metzler argues that the inflationary creation of credit was key to Japan's postwar success—and its eventual demise due to its instability over the long term.



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