Nobuo Okishio

Nobuo Okishio (January 2, 1927 - November 13,2003) was Japanese economist and emeritus professor of Kobe University.

Okishio studied mathematical economics under Kazuo Mizutani.In 1950 he graduated Kobe University and taught at Kobe University. Then he began to doubt the premises and the results of modern economics, and study Marxian economics by oneself.

Then Okishio’s work relates much to clarify the logic of Marx’s theory and he gives the formal (and mathematical) proof of a lot of Marxian Theorems. For example, in 1955, he give the world's first proof of the “Marxian fundamental theorem”, later proved and named by Michio Morishima, that the exploitation of surplus labor is the necessary condition for the existence of positive profit. Concerning Marx’s Falling Rate of Profit, Okishio considers famous Okishio's theorem won’t deny it.

Okishio wrote many papers covering various important fields in modern and Marxian economics, for example value and price, accumulation theory, critical analysis of Keynesian economics, trade cycle theory and on the long run tendency of capitalistic economy. They were published in over twenty books and two hundred papers, unfortunately almost in Japanese. In English about thirty papers are published and main materials are collected in the following book.

• Nobuo Okishio, Michael Kruger and Peter Flaschel(1993), Nobuo Okishio-Essays on Political Economy: Collected Papers , Peter Lang Publishing (ISBN 3631435584)

• “Monopoly and the Rates of Profit”, 1955, Kobe University economic review 1,71-88
• “Durable Equipment and Equilibrium Growth”, 1958,Kobe University economic review 4,29-40
• “Technical Changes and the Rate of Profit”, 1961, Kobe University economic review 7,85-99
• "A Mathematical Note on Marxian Theory", 1963, WWA
• “Instability of Harrod=Domar's Steady Growth”, 1964, Kobe University economic review 10,19-27
• “On Mr. N. Kaldor's Growth Model”, 1967, Kobe University economic review 13,43-58
• “An Extension of a Discrete Version of Pontryagin's Maximum Principle and its Simple Application”, 1970, Kobe University economic review 16,37-48
• “A Formal Proof of Marx's Two Theorems”, 1972 Kobe University economic review 18,1-6
• “Value and Production-Price”, 1974, Kobe University economic review 20,1-19.
• “Fixed Capital and Extended Reproduction”, 1975, Kobe University economic review 21,11-27
• “Marxian Fundamental Theorem : Joint-Production Case”, 1976, Kobe University economic review 22,1-11
• “Inflation as an Expression of Class Antagonisms”, 1977, Kobe University economic review 23,17-29
• “Theorems of Investment Truncation”, The annals of the School of Business Administration, Kobe University 21,73-90,1977.
• "Notes on Technical Progress and Capitalist Society", 1977, Cambridge Journal of Eonomics.

“Three Topics on Marxian Fundamental Theorems”, 1978, Kobe University economic review 24,1-18

• “Dimensional Analysis in Economics”, 1982, Kobe University economic review 28,31-44
• “The Decision of New Investment, Technique and Rate of Utilization”, 1984, Kobe University economic review 30,15-32.
• “A Measurement of the Rate of Surplus Value in Japan : The 1980 Case”, 1985, Kobe University economic review 31,1-13.
• “Stagflation : Causes and Policies”, 1986, Kobe economic & business review 32,33-54.
• “Theoretical Foundations of International Macro-Economic Model”, 1987, Kobe University economic review 33,1-16.
• “On Marx's Reproduction Scheme”, 1988, Kobe University economic review 34,1-24.
• “Problems and Method of Economics”, 1989, Kobe economic & business review 34,101-108.
• “On the Theories of Determination of the Real Wage Rate”, 1989, Kobe University economic review 35,1-13.
• “The Permissible Range of Relative Prices in the Light of Lavor Values”, 1995, Kobe University economic review 41,1-14.
• “Competition and Production Price”, 2000 ,Cambridge Journal of Eonomics.