The Rough Guide To Shimomuran-Wernerian Economics

- A Dozen Foundation Articles

1 Introduction

Recently, Jay Pocklington of the Institute for New Economic Thinking called for papers to support his New York Economic History workshop on 24 October 2014, and I responded by sending him the following list of a dozen key articles. My preamble to the list was

“Thank you for call for papers for this Economic History Workshop. I offer you below a dozen articles about the origin and spread of high-growth low-inflation Shimomuran economics. I think your event might be one ideal location as a late curtain-raiser for the Shimomuran economics which Western economists have ignored for far too long.

“As you may know from my articles, I think that this fresh economics is probably the most important development in economic history during the last 75 years. The decline of the hegemonic power of the USA and the West due to their continuing practice of neoclassical economics and the rise of the Tokyo Consensus nations (China, Japan, South Korea and Taiwan) due to their understanding and use of Shimomuran economics is probably the defining set of economic circumstances of our age and perhaps for much of the 21st century and beyond.”

I would like anybody who is interested to be able to look up and refer to these articles as they choose.

2 The Dozen Foundation Articles About Shimomuran Economics

Here’s the internet references to these twelve articles, all of which are about Shimomuran (Investment Credit) economics:

First, the article about “The Origin and Spread of Investment Credit Economics at

1 http://londonprogressivejournal.com/article/view/1514/the-origin-and-spread-of-investment-credit-economics

Second, the article about “FDR’s American Economic Miracle 1938–44, or the First Economic Bomb — The USA from 1938 to 1944" (Economic Miracles Part 1)

2 http://londonprogressivejournal.com/article/view/1507/fdrs-american-economic-miracle-or-the-first-economic-bomb-the-usa-from-to-part

Third, the article about “The Master Economist” — “Dr Osamu Shimomura -Probably the Greatest Economist of the 20th Century After John Maynard Keynes”

3 https://medium.com/@georgetaitedwards/the-master-economist-2a744a336ece

Fourth, an article about Shimomura’s greatest disciple and English-language interpreter, Kenneth Kenkichi Kurihara (1910–1972)

4 https://medium.com/@georgetaitedwards/the-key-relevance-of-the-writings-of-professor-kenneth-kenkichi-kurihara-the-world-expert-on-high-99d1f80e173

Fifth, an article about “The Origin of Shimomura’s Japanese Economic Miracle, or the Second Economic Bomb — Japan from 1946 to 1965 (Economic miracles Part 2)”

5 http://londonprogressivejournal.com/article/view/1566/the-origin-of-shimomuras-japanese-economic-miracle-or-the-second-economic-bomb-japan-from-to-economic-miracles-part

Sixth, a note about “Why China Flourishes While The USA Declines — It’s Shimomuran Economics, Stupid” at

6 https://medium.com/@georgetaitedwards/why-china-flourishes-while-the-usa-declines-27a9fd84acb2

Seventh, “A Comparison of the Washington, Berlin, and Tokyo Consensus Zones” asking “Which one really works?” at

7 https://medium.com/@georgetaitedwards/a-comparison-of-the-washington-berlin-and-tokyo-consensus-zones-221e7e53018b

Eighth, a list of “The Many Major Uses of Investment Credit Creation: A brief walk through the observed results so far, and the future possibilities made available through Shimomuran Economics” at

8 http://londonprogressivejournal.com/article/view/1685/the-many-major-uses-of-investment-credit-creation-a-brief-walk-through-the-observed-results-so-far-and-the-future-possibilities-made-available-through-shimomuran-economics

Ninth, an article about how “The West Is About To Lose The World Because Of Faulty Economic Understanding” and how “With neo-classical economics, everybody loses” at

9 https://medium.com/@georgetaitedwards/the-west-is-about-to-lose-the-world-because-of-faulty-economic-understanding-c92ecc2e5027

Then a tenth article, entitled “Why the USA is losing its economic greatness As its manufacturing industry declines due to poor economic understanding” at

10 https://medium.com/@georgetaitedwards/why-the-usa-is-losing-its-economic-greatness-e3612cf1ca9c

And as the 11th article an “UPDATE ON SHIMOMURAN ECONOMICS: THE DAY MAY COME….Western governments and their advisors can no longer continue to ignore the work of the master economist Dr Osamu Shimomura (1910–1989) who provided the insights which have produced the high growth of the China Sea economic zone” which article takes into account the recent research of Professor Richard Werner of Southampton and points out that the Tokyo Consensus economies have tried to keep Shimomuran economics from the West because plentiful capital confers such a great trading advantage: see Section 8 of:

11 https://medium.com/@georgetaitedwards/update-on-shimomuran-economics-the-day-may-come-b0512dd899b9

Finally, for now, an article about how “Shimomuran Economics is the Most Significant Advance Ever Made in Economic Understanding and the West Still Doesn’t Get It” at

12 https://medium.com/@georgetaitedwards/shimomuran-economics-is-the-most-significant-advance-ever-made-in-economic-understanding-and-the-e540e58bf270

3 Conclusions

After sending this slightly amended list, I ended up by saying:

“There is about a score or two of other relevant articles but the above dozen will probably do for now. I hope this is helpful.

“Yours aye and sorry I can’t be there.”

But I will be there in spirit and maybe in internet doppelganger mode. And whether that conference or any other such pays due attention or ignores the work of Dr Osamu Shimomura, his understandings are on course in the Tokyo Consensus Zone to create a world which will dominate you all.

© George Tait Edwards 2014, 2016

Note: George Tait Edwards has published a book about “Shimomuran Economics” at http://www.lulu.com/shop/george-tait-edwards/shimomuran-economics/paperback/product-21688864.html and much else elsewhere during the last four decades.

    George Tait Edwards

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