ABSTRACT
The present chapter has two objectives. One is to examine the study of Robertson and Keynes conducted by Prof. Hideo Aoyama (1910-1992)—one of the leading theoretical economists-concentrating on his activities in the interwar period, and the other is to present my own study in the same sphere for the sake of comparison. This might seem a slightly odd approach given the time span of over 60 years. At first I had planned to focus on Aoyama’s study alone. As my research proceeded, however, I came to notice the need to clarify my own understanding in the area concerned in order to fulfill the initial purpose, for my approach and understanding are rather different from his. That is why I chose to juxtapose them, adding my assessment of his study from my own stance. The chapter runs as follows. First, the economics situation in interwar Japan is briefly sketched out (section 2). Then the following themes are discussed in various ways, juxtaposing Aoyama’s interpretation together with my interpretation: Robertson’s trade cycle theory (section 3); Walrasian general equilibrium theory and the Wicksell Connection (section 4); and Keynes’s theory, including the Treatise (1930) and the General Theory (1936).
