22 Facts About Katsuhito Iwai

Katsuhito Iwai is a Japanese economist and critic.

Katsuhito Iwai has studied the theory of money, macro dynamics, evolutionary economics, philosophy of corporations, fiduciary law, and the history of sociology.

Katsuhito Iwai's work includes the book, Disequilibrium Dynamics, and many articles published in academic journals.

Katsuhito Iwai has written books and articles in newspapers and magazines for the general public on a wide variety of subjects ranging from global capitalism, post-modernity, civil society, money and language to literature and movies.

Katsuhito Iwai entered the University of Tokyo, Japan in 1965.

Katsuhito Iwai was an assistant research economist at the University of California at Berkeley from 1972 to 1973 and an assistant professor of economics at Yale University from 1973 to 1979.

Katsuhito Iwai served as a senior research associate at the Cowles Foundation for Research in Economics, Yale University from 1979 to 1981.

Katsuhito Iwai was a visiting professor of economics at the University of Pennsylvania, and a visiting associate professor of international affairs at the Woodrow Wilson School, Princeton University from 1988 to 1989.

Katsuhito Iwai was a visiting fellow in Dipartimento di Economia Politica, Universita di Siena in 1997.

Katsuhito Iwai served as the dean of Graduate School of Economics and Faculty of Economics at the University of Tokyo from 2001 to 2003.

Katsuhito Iwai has been a member of Science Council of Japan from 2005.

Katsuhito Iwai has demonstrated that, if, in a monetary economy, prices and wages are flexible, a deviation from equilibrium inevitably produces firms' expectational errors and starts a dynamic process that drives prices and wages cumulatively away from equilibrium.

Katsuhito Iwai has then argued in opposition to the neoclassical view of the self-regulating nature of laissez-faire market mechanism, that what stabilizes the monetary economy is the inflexibility of money wages and that an equilibrium it gravitates to almost never achieves full-employment.

Katsuhito Iwai has proven that the trade-off between unemployment and inflation never ceases to exist no matter how long the time span.

Katsuhito Iwai is often cited for his formulation of a bootstrap theory of money.

Everybody uses money as money, Iwai writes, because everybody else uses money as money.

Katsuhito Iwai has offered proof, in his search-theoretic model of decentralized exchanges, that, to sustain itself as an equilibrium, the monetary system requires no "real" conditions.

Katsuhito Iwai is credited with constructing mathematical models of Schumpeterian evolutionary processes that describe how large numbers of firms interact with one another, by competing to innovate, trying to imitate and struggling to grow.

Over a long span of time, Katsuhito Iwai argues, what the economy approaches is not a neoclassical equilibrium of uniform technology, but at best a statistical equilibrium of technological disequilibria.

Katsuhito Iwai has built a new theory of the corporation and of corporate governance.

In light of these theorizations, Katsuhito Iwai has revived the traditional principle of corporate governance where the managers' fiduciary duties toward the corporation serve as its very foundation.

In recent years, Katsuhito Iwai has been known to be involved in his attempts at developing a non-contractual theory of fiduciary law.