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Michio Morishima

It is with sadness that LSE informs the School community of the death of Professor Michio Morishima (1923-2004).

A distinguished mathematician and econometrician, Michio Morishima was on LSE staff from 1970-88 as the Sir John Hicks Professor of Economics. He was the originator of the project that resulted in the establishment of the Suntory-Toyota Foundation and the Suntory and Toyota International Centres for Economic and Related Disciplines| (STICERD) at LSE. He was STICERD's first chairman. In 1991 he was elected an Honorary Fellow of the School.

His principal economic interests were in general equilibrium theory, the history of economic thought, and capitalist economic systems. Morishima's economic theory worked towards the accommodation of von Neumann's 1937 multi-sectoral growth model to a general equilibrium model. His research reviewed the works of Marx and Walras. Considering the work of these theorists to be Ricardian, his research worked to show that the modification of them along von Neumann lines elucidates the theoretical similarities and differences between the positions.

His publications included Equilibrium, Stability and Growth (1964), Theory of Economic Growth (1969), Marx's Economics (1973), The Economic Theory of Modern Society (1976), Why has Japan 'succeeded'? (1982), and The Economics of Industrial Society (1984).

Director Howard Davies said: 'Michio Morishima's contribution to academic study at LSE was tremendous. Not only was he the founding chairman of STICERD, one of the School's most notable research centres, but he also gave his time and energy to LSE for many years in scholarship on how economies and societies function. We send our sincerest condolences to his wife Yoko and the rest of his family.'

Emeritus Professor Meghnad Desai, professor of economics and former director of LSE's Centre for the Study of Global Governance, said: 'Michio Morishima was one of the most distinguished economic theorists of his generation. From the very outset of his academic career he was doing original work. His doctoral dissertation made a powerful contribution to the literature on dynamic stability of the competitive system developing Hicks's theory but being in Japanese did not come to general attention till the early 1950's. Morishima went on to develop a distinctive style of economic theorising which attempted to blend together the economics of Walras- Hicks, Keynes and Marx. He had an ambitious research programme to integrate money and capital in a dynamic general equilibrium model which he accomplished in a series of books published between 1964 and 1995. He will be also remembered as a popular teacher and a well liked colleague.'

An appreciation by Nicholas Stern, of LSE and the World Bank, can be found in the introduction to a volume about Professor Morishima's work at http://sticerd.lse.ac.uk/publications/michiobook/intro.pdf| 


Updated 16 July 2004