ABSTRACT
This chapter is the epilogue of the history of modern economic thought in Japan. It began with the recognition of the growing market economy in the Tokugawa period, developed by introducing Western economics and social thoughts, quested the solution to social problems under rapid industrialization, and experienced the dilemma between collaboration or resistance under the war in the Asian and Pacific region. Those economists we discussed in previous chapters reacted to Japan’s surrender in their own ways. Reshuffling of personnel occurred both in politics as well as in academism. Those economists who had experienced repression in the war years were invited to participate in the reconstruction and reforms. However, the period in which economists could hope their contribution to constructing a new democratic economic system was not long. When the ‘reverse course’ began together with economic stabilization, the first drama of the modern history of economic thought in Japan came to an end.
