著者
一ノ瀬 篤 Atsushi Ichinose 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学経済経営論集 (ISSN:02869721)
巻号頁・発行日
vol.50, no.1, pp.219-246[含 英語文要旨], 2008-06

In the U.K., Pitt's sinking fund was established in 1786 to deal with the accumulation of national debt. Pitt's fund regarded the compound interest principle as important. The initial fund was supported by a budgetary surplus of some one million pounds. But as the nation rushed into the war with France in 1793, extraordinary budgetary deficits emerged. Under such circumstances, the sinking fund, which was founded on the principle of compound interest, was obliged to depend on the new issue of government bonds as its source. Consequently the sinking fund merely embodied a policy of' raising sinking funds by borrowing money'. Criticism against the wastefulness of Pitt's fund flared up after the war, the leading critics being R. Hamilton and D. Ricardo. As a result, the fund was abandoned in 1828 after more than 40 year's duration. Hamilton mainly criticized the policy of 'raising sinking funds by floating new government bonds', but he also never overlooked the fictitious nature of the compound interest principle. In the present-day Japan, National Debt Consolidation Fund(NDCF)bears the role of a sinking fund. Corresponding to the so-called re-flotation of national debt in 1965 F.Y., it was decided to annually transfer a sum of money(equal to 1.6% of the outstanding national debt at the beginning of the previous year)from government's general accounts to NDCF. The figure of 1.6% corresponds to the durable life of the facilities that the government was expected to build(in the case of construction bonds), and it was assumed the government would recover its investment in 60 years. NDCF was to deposit and employ this sum to redeem outstanding debts. Now, as this 1.6% deposit is inserted into the annual disbursements budget as a main item under bond expenditures, it unavoidably increases the sum of budgetary expenditures. Therefore, under the circumstances of persistent budgetary deficit, the sum of the above deposit increases the annual volume of newly issued government bonds by that very sum. The result is as follows: to meet the necessary sum for the sinking fund, the government is compelled to raise money by issuing new government bonds. Thus the scale of annual government revenue/expenditure is amplified to the same extent. If this waste of labor could be justified, it would be in the case where the sinking fund usefully fulfills the function of debt management, or in the case where the fund plays the role of emergency reserves. But neither function could be nor should be expected with regard to NDCF. Our present NDCF seems to continue only by inertia and only for the purpose of exhibiting the government's pose that it is not idle in trying to reduce the national debt. The sinking fund in present-day Japan has not employed the principle of compound interest, so that its fictitious character is not easily exposed. But it is not likely that we will be able to escape the unsparing criticisms made by Robert Hamilton some 200 years ago.
著者
津田 直則 Naonori Tsuda 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学経済経営論集 = ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW (ISSN:02869721)
巻号頁・発行日
vol.49, no.4, pp.139-178, 2008-03-10

The article examines the co-operative values and management efficiency in the case of the Mondragon Co-operative Corporation(MCC). In the first section of the article, the history of the MCC is investigated, which is divided into three periods, 1956-70, 1971-90 and 1991-2006. In the second section of the article, which will appear in the following volume of the bulletin, the co-operative values, management efficiency and their relations would be analyzed. The First Period(1956-70)of the history of the Mondragon co-operatives is characterized by founding the basis of co-operatives and expanding business projects in various sectors of the Basque economy in Spain. In the Second Period(1971-90), the Mondragon Co-operative Group suffered from the oil shock effects and began to construct the protecting system against stagnation by inventing the institutional systems of solidarity. At the same time, the management top of the Group increased investments at foreign countries for attaining the superior competitive condition in international markets. In 1987, the First Co-operative Congress of the Mondragon Co-operative Group decided the famous Ten Principles as the value basis of the organization of the Group. They are: Open admission, Democratic Organization, Sovereignty of Labor, The Instrumental Character of Capital, Self-Management, Pay Solidarity, Group Cooperation, Social Transformation, Universal Nature and Education. In 1991, the beginning year of the Third Period(1991-2006), the Third Co-operative Congress was hold. The key decisions at the congress were:(a)The centralization of the organization and pursuit of a strategy for the sake of survival in the international market.(b)The reorganization of the co-operatives away from the regional groupings and toward to the sector groupings for increasing efficiency.(c)The renaming of the Mondragon Co-operative Group as the Mondragon Co-operative Corporation(MCC). In 2006, the performance of MCC is as follows. MCC Co-operatives107 Subsidiary companies126 MCC workforce83,601 MCC Total Assets27,550(million of euros)MCC Equity4,696(million of euros) Total Turnover(Industrial)6,880(million of euros) Total Turnover(Distribution)6,510(million of euros) MCC Overall Investment1,240(million of euros)
著者
野尻 亘 Wataru Nojiri 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学人間科学 = HUMAN SCIENCES REVIEW, St. Andrew's University (ISSN:09170227)
巻号頁・発行日
no.37, pp.63-99, 2009-10-20

Alfred Russel Wallace observed the distribution and boundaries of animals inhabiting the Malay Archipelago. The distribution of marsupials in the Australian region is a prominent feature of the area. In Borneo, however, the mammals do not include marsupials. The many parrots of the Australian region are rare in the Oriental region. The birds of the Oriental region do not migrate to Lombok Island, and these are not seen on Celebes or islands further to the east. The Lombok Strait were regarded as the dividing line between these two zoogeographic regions. The boundary between the zoogeographical regions, crossing the Lombok Strait indicated by Wallace was later to be called "Wallace's line" by Thomas Henry Huxley. Later, Mayr conducted further studies on Wallace's line, asserting that differences in the faunas of Bali and Lombok were not due to crustal movements in the Tertiary period, as Wallace had asserted, but rather to sea levels changes in the Pleistocene glacial epoch. During that time, sea levels were 70-100m lower, but because the Lombok Strait is a deepwater strait, the land on either side was not connected. In addition to this, Simpson points out that the eastern end of the Sunda shelf, which is the Asian continental shelf, is Wallace's line, while the West end of the Sahul shelf, which is the Australian continental shelf, is Lydekker's line. The area between these is known as the "Wallacea" transitional zone. Currently, "Wallacea" is believed to have been formed when the Australian continental crust broke off from the Antarctic at the end of the Cretaceous and collided with the southeastern border of the Eurasian continental crust during the mid Miocene. After the collision of these continental plates, there were violent movements in the crust and fault activity. Subsequently, the animals of the both continents migrated to islands, repeating cycles of either evolution or extinction, eventually creating today's diverse distribution of organisms. In other words, modern interpretation of Wallace's line differs greatly from past interpretation. Wallace and other traditional biogeographers believed that Wallace's line is the boundary created by isolation by geographical barriers. At the present time, Wallace's line is explained by collisions along the borders of the earth's plates. In other words, Wallace's line was the "frontier" where different types of species living on different plates were exposed to each other and interacted when the plates collided.
著者
道上 真有 Mayu Michigami 桃山学院大学経済学部兼任
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学経済経営論集 = ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW (ISSN:02869721)
巻号頁・発行日
vol.49, no.2, pp.53-97, 2007-09-28

The purpose of this paper is to analyze the Russian market economy, focused on the Russian housing market. The evolution of the housing privatization in Russia is described. The results of author's analysis are the following.1.The housing privatization is developed and its share is about 80%.2.The private dynamism has improved the housing quality, particularly since 2000.3.The housing affordability has improved since 1999.4.Russian economic development let the task of housing policy change from the housing supply to the improvement of housing quality.5.The reform of the utility system has started by increasing in utility rate since 2001.6.The Russian municipal authorities should consider the renewal of the real estate value. It will promote the mobility of housing market.7.The correlation between the share of Russian housing investment and the Russian economic development draws the inverse U curve. It shows that Russia has already been the developed economy.8.The appreciation of housing price in Russia's big cities is emerging. The disparity in housing price widens among regions in Russia.
著者
桂 昭政 Akimasa Katsura 桃山学院大学経済学部
雑誌
桃山学院大学経済経営論集 = ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW (ISSN:02869721)
巻号頁・発行日
vol.52, no.4, pp.79-104, 2011-03-30

SNA's bank output measurement depends on interest margin, i.e. the difference between lending interest and deposit interest. But interest margin does not correspond to the market transaction. Therefore SNA exercises bank output measurement through imputation that assume marketable bank output. By employing imputation, SNA's bank output measurement method has continually changed. For example, 53SNA estimated bank output through imputed interest, 68SNA estimated it through imputed bank service, 93SNA estimated it through FISIM. I think that confusion in SNA bank output measurement is due to the consideration that regards bank output value as interest margin based on financial intermediation function. So I think that it is important to consider bank fundamental function theoretically and bank marketable output. Recently I examined the former, i.e. bank fundamental function theoretically through my university paper (ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW) and concluded that bank fundamental function is not financial intermediation but credit creation that is the lending that provides borrower to guarantee the payment through the checking account and that it is mistake for SNA to regard bank output as interest margin based on financial intermediation. In this paper I examined the latter, i.e. what is bank's marketable output. This examination makes up the defect of my former paper. Bank industry or generally industry itself produces output, i.e. goods and services through the combination of labor and capital or asset, therefore bank output does not correspond to interest but to goods and services. Because bank provides borrower to guarantee the payment through checking account, it is able to understand that bank sells the service to guarantee the payment to the borrower. After above examination, I concluded that bank output is receipt for the lending service that provides the borrower to guarantee the payment through the checking account.
著者
荒木 英一 Eiichi Araki 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学総合研究所紀要 = ST.ANDREW'S UNIVERSITY BULLETIN OF THE RESEARCH INSTITUTE (ISSN:1346048X)
巻号頁・発行日
vol.35, no.1, pp.33-46, 2009-07-20

Through the special collaborative research projects (02-R-154, 05-R-181, 08-R-199) funded by Momoyama Gakuin University Research Institute, a considerably wide-ranging business survey has been ongoing since the second quarter of 2004 with the cooperation of the Sakai City Industial Promotion Center. In this article a brief outline of our activities from April 2005 to March 2008 is given fist, and the result of an econometric analysis based on our survey data is discussed. It was discovered that the movements of some diffusion indices of our local regional economy (the south Osaka area) are significantly different from those of some similar indices in "Tankan", the single largest national business survey in Japan conducted by BOJ. The gap between the local and the national indices is widening, which implies that the local companies are becoming increasingly more pessimistic than the government's official statistics suggest. This discovery shows the significance of our unique business survey and the necessity of inquiring into the economic background to the gap.
著者
松尾 純 Jun Matsuo 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学経済経営論集 = ST. ANDREW'S UNIVERSITY ECONOMIC AND BUSINESS REVIEW (ISSN:02869721)
巻号頁・発行日
vol.50, no.3, pp.59-80, 2008-12-10

Professor Noriko Maehata and I have been engaged in discussions concerning the understanding of the concept of "actual overproduction of capital" as contained in Karl Marx's Das Kapital Volume III. The discussion originated in Professor Maehata's criticism("'Law of the Tendency of the Rate of Profit to Fall' and 'Absolute Overproduction of Capital' - An Issue in Research on the Theory of Crisis," Economic Society of Rikkyo University(Rikkyo Keizai Gaku Kenkyu), Vol. 55, No. 1, July 2001)of my understanding of "actual overproduction of capital." I immediately responded in my paper entitled, "'Actual Overproduction of Capital' and 'Absolute Overproduction of Capital' - A Response to the Criticisms of Professor Noriko Maehata -"(St. Andrew's University Economic and Business Review, Vol. 43, No. 4, March 2002). In answer to my response, Professor Maehata published a second paper entitled, "Law of the Tendency of the Rate of Profit to Fall and Crisis - Regarding 'Actual Overproduction of Capital'"(Keizaigaku Kenkyu(Hokkaido University), Vol. 56, No. 2, November 2006). This second criticism more clearly delineated the differences in our two views. Specifically, the problems contained in Professor Maehata's understanding of "actual overproduction of capital" became very clear. The purpose of this present paper is to examine the problems in Professor Maehata's understanding of "actual overproduction of capital." In her second paper, Professor Maehata explained the mechanism of the occurrence of "actual overproduction of capital" in the form of the following causal nexus: "increased producing powers of labor → advancement of the organic composition of capital → fall in profit rate and increased mass of profit → 'concurrence among capitals("small split capitals" and "fresh branches of capital")' → rapid absorption of relative overpopulation and 'reduction' in relative overpopulation (but not its 'exhaustion')→ rise in wages → diminished degree of exploitation of labor → rapid decrease in profit rate → occurrence of 'actual overproduction of capital' → 'concurrence among capitals' → 'exhaustion' of relative overpopulation → occurrence of 'absolute overproduction of capital'." I cannot agree with Professor Maehata's explanation that "actual overproduction of capital" occurs as a result of the causal nexus: "rapid absorption of relative overpopulation → rise in wages → decrease in mass of profit → rapid decrease in profit rate." My disagreement is based on the following expositions of "actual overproduction of capital" contained in the manuscripts of Volume III of Das Kapital.(1)"Actual overproduction of capital" is the "overproduction of means of production which may serve to exploit labor at a given degree of exploitation." "A fall in the intensity of exploitation below a certain point... calls forth disturbances and stoppages in the capitalist production process, and the destruction of capital."(2)"Overproduction of capital is accompanied by more or less considerable relative overpopulation."(3)The rate of profit is lowered through the process of "increased producing powers of labor → accumulation of capital." This process simultaneously creates relative overpopulation.(4)Relative overpopulation is not employed by the surplus-capital. Even if employed, relative overpopulation would be employed at a "low degree of exploitation," which would "call forth disturbances and stoppages in the capitalist production process, and the destruction of capital." Professor Maehata makes the following argument. "Faced with a declining rate of profit, 'small split capitals' and 'fresh branches of capital' are used as capital(that is, these capitals are combined with relative overpopulation), which gives rise to 'concurrence among capitals.' In the process of 'concurrence among capitals,' overpopulation is used by capital newly trying to become independent and additions to existing capital. As a result, overpopulation is reduced." However, this is not the thinking of Marx. Marx's assertion is as follows.<" The rate of profit will fall as increased producing powers and accumulation of capital advances. However, at the same time, the mass of profit will increase. While the "increase in the mass of profit compensates for the decline in the rate of profit," this "compensation" applies "only to the total social capitals and to the big, firmly placed capitalists. The new additional capital operating independently does not enjoy any such compensating conditions. It must still win them." If they cannot "win them" through competitive struggle, these capitals become excess capital. If concurrence among capitals becomes intensified, an even greater number of "small split capitals" and "fresh branches of capital"(in other words, capital newly trying to become independent and additions to existing capital)that are unable to "exploit labor at the 'intensity of exploitation' necessary for the 'sound' and 'normal' development of the capitalist production process"(Maehata)become excess capital. At the same time, the excess population employed by excess capital will continue to increase.>
著者
川崎 千加 小松 泰信 辻 洋一郎 Chika Kawasaki Yasunobu Komatsu Youichirou Tsuji 大阪女学院大学・大阪女学院短期大学 大阪女学院大学国際・英語学部 桃山学院大学経済学部
出版者
桃山学院大学総合研究所
雑誌
桃山学院大学総合研究所紀要 = ST.ANDREW'S UNIVERSITY BULLETIN OF THE RESEARCH INSTITUTE (ISSN:1346048X)
巻号頁・発行日
vol.36, no.1, pp.109-164, 2010-06-30

This paper is written as an interim report for the members of the 2 year joint research project "Reviewing the Library and Information Science Education Program in Momoyama Gakuin University" in order to study the conditions of reshaping the librarian training curriculum under newly amended library legislation. Chapter 1 reports the results of analyzing questionnaires handed out to the students April 2009. Chapter 2 shows expectations of a public librarian to future developments of university library education through his daily business. Chapter 3 writes human resources development by library instruction programs. Chapter 4 considers the wisdom and abilities required to librarians, and hoping the changes of university's librarianship. Chapter 5 presents an experiment of Osaka Jogakuin College's information literacy education using a learning management system. At last, Chapter 6 is a conclusion, and after reviewing the new Meisei University's curriculum, discusses the headed direction turned around for Momoyama Gakuin University's library and information science course.
著者
中野 瑞彦 Mitsuhiko Nakano 桃山学院大学経済学部
雑誌
桃山学院大学総合研究所紀要 = ST.ANDREW'S UNIVERSITY BULLETIN OF THE RESEARCH INSTITUTE (ISSN:1346048X)
巻号頁・発行日
vol.30, no.3, pp.65-79, 2005-03-10

In the WWI era, the Japanese economy enjoyed an abnormal boom rised by the war in Europe. Japanese exports increased by enormous scale and brought huge external receipts. Discarding the gold-standard system, the Japanese economy lost the adjusting mechanism which the goldstandard system warranted. The money supply increased and thereby the inflation hit the people's life so that there were riots for shortage of rice in the summer 1918 (Kome-Sodo). This Kome-Sodo riots fall the Terauchi Administration. And after Terauchi, Takashi Hara took office as the first party cabinet in Japan. So the cabinet was changed, but the economic policies were not changed so much. Both administrations took an expansive policies which caused severe inflation and brought an enormous bubble in 1919. The Hara Administration was under control of Hanbatsu fraction. Therefore, Hara could not and would not change the policies (for example, badget) of former administration. That caused disappointment to the party cabinet and democracy in general and paved the way to militarism. This paper dealts with the economic and political causes which lied in desicion process for economic policies in that period by reviewing the newspapers and the journals.
著者
蕗谷 硯児 Kenji FUKIYA 桃山学院大学経済学部
雑誌
国際文化論集 = INTERCULTURAL STUDIES (ISSN:09170219)
巻号頁・発行日
no.14, pp.101-141, 1996-09-30

Dr. Tatsunosuke Ueda regarded the famous South Sea Bubble of 1720 as being as much a literary affair of the first magnitude as a social, economic and political affair. (T. Ueda. The South Sea Bubble in English Literature, Misuzu Shobo, Japan, 1995, p.42) From the same point of view, this article describes: 1) the historical background of the South Sea Bubble, 2) John Law and the Mississippi Bubble of 1720 (France), 3) the course and details of the South Sea Affair, 4) the catastrophe, crime and punishment of the authors of great mischief, 5) the South Sea Bubble and Sir Robert Walpole, 6) the news reports by Daniel Defoe (extracts quoted in the article of Dr. Ueda). From this analysis, we can understand that Japanese Heisei (financial and real estates) Bubble of the present time, is not an exceptional affair, but a very familiar and universal one.