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Hidetomi Tanaka

@hidetomitanaka.bsky.social
402 followers 55 following 54 posts

Researcher in the history of economic thought and critic of Japanese economic policy. I have also written extensively on cultural economics. I am active in daily discourse through radio programs, magazines, and newspapers.日本語での名前は田中秀臣。

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Hidetomi Tanaka @hidetomitanaka.bsky.social · 24/06/2026
Wow, look at that—the Takaichi cabinet has finally blown a fuse over the BOJ's rate hike plan (lol). It goes without saying, but combining interest rate hikes with aggressive fiscal expansion is completely absurd. Plus, there are leaks involved. The #BOJ bureaucrats are completely out of control.
https://www.boj.or.jp/en/mopo/mpmsche_minu/opinion_2026/opi260616.pdf
Cabinet Office 
⚫ It is important for the Bank to fulfill its accountability regarding the policy interest rate hike at 
this MPM, while taking proactive and appropriate action in the event of excessive fluctuations 
in economic activity. The transition to a growth-oriented economy is crucial, and it is necessary 
to carefully examine the relationship between macroeconomic supply-demand conditions and 
price developments. 
⚫ Regarding the purchase of JGBs, it is necessary for the Bank to examine the macroeconomic 
impact of the reduction in the size of its balance sheet and to take appropriate action for market 
stability. 
⚫ The government expects the Bank to conduct monetary policy as appropriate, including the 
aforementioned points, while understanding initiatives taken by the Takaichi Cabinet such as 
strategic investments that enhance resilience against potential crises and investments that 
promote growth.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 20/06/2026
No offense to Mr. Sakurai, but this hike is purely about choking off consumption & investment. Raising rates by a combined 50 bps twice a year—with leaks to the press, no less—won't magically let them control the FX rate. x.com/Reuters/stat...
x.com
Reuters (@Reuters) on X
BOJ may raise interest rates twice by March, says ex-BOJ policymaker https://t.co/eJbAW4oAig https://t.co/eJbAW4oAig
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Thoughts? Does strong JG/GND risk Hopf-induced instability in real economies? Open to feedback/critique from MMT, ecological econ, complex systems folks.#MMT #GreenNewDeal #PostKeynesian #EcologicalEconomics #HopfBifurcation #ClimateMacroeconomics #AnimalSpirits
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 17/03/2026
Thrilled that @fortune.com ran an excerpt of my new foreword in the new paperback release of my book, The Road to Freedom: Economics and the Good Society fortune.com/2026/03/17/s...
fortune.com
Nobel economist Joseph Stiglitz says Trump replaced 'The rule of law with a question: How much will you give me?' | Fortune
Nobel Prize-winning economist Joseph Stiglitz says America replaced the rule of law with a medieval bazaar, and explains what it will cost us
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Nonlinear extensions: Climate tipping + nonlinear sentiment → multiple equilibria, regime shifts (low vs high emissions paths).Not DSGE; pure post-Keynesian/Minskyan spirit.Full abstract & PDF: jobu.repo.nii.ac.jp/records/2000...
jobu.repo.nii.ac.jp
上武大学リポジトリ
CMS,Netcommons,Maple
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Focus: JG stabilization strength + climate fiscal feedback intensity.Result: Moderate feedbacks enlarge stability region. Too strong → Hopf bifurcation loci appear, leading to limit cycles.We map a "golden zone" in policy parameter space where stability holds without over-reaction.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Strong feedbacks can destabilize via Hopf bifurcations → endogenous macro-climate cycles.Key setup: 7-dim continuous-time system (output gap, inflation, fiscal stance, CO2 stock, shadow price, exp. inflation, sentiment index). Jacobian → Routh-Hurwitz for local stability.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Hopf bifurcations in MMT-GND models with strong JG/climate feedbacks – stability risks & golden zoneIn a post-Keynesian SFC-compatible model, we integrate Job Guarantee (JG), climate-responsive fiscal policy, and animal spirits under uncertainty. Paper: jobu.repo.nii.ac.jp/records/2000...
jobu.repo.nii.ac.jp
上武大学リポジトリ
CMS,Netcommons,Maple
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/03/2026
Hopf bifurcations in MMT-GND models with strong JG/climate feedbacks – stability risks & golden zoneIn a post-Keynesian SFC-compatible model, we integrate Job Guarantee (JG), climate-responsive fiscal policy, and animal spirits under uncertainty. Paper: jobu.repo.nii.ac.jp/records/2000...
jobu.repo.nii.ac.jp
上武大学リポジトリ
CMS,Netcommons,Maple
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 05/03/2026
Job Guarantee, Climate Dynamics, and Animal Spirits: Stability, Hopf Bifurcations, and Policy Over-Reaction jobu.repo.nii.ac.jp/records/2000...
jobu.repo.nii.ac.jp
上武大学リポジトリ
CMS,Netcommons,Maple
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 05/03/2026
Job Guarantee, Climate Dynamics, and Animal Spirits: Stability, Hopf Bifurcations, and Policy Over-Reaction jobu.repo.nii.ac.jp/records/2000...
jobu.repo.nii.ac.jp
上武大学リポジトリ
CMS,Netcommons,Maple
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 18/02/2026
I was interviewed by a newspaper for an article that provides a helpful overview of the Takaichi administration's economic policies. japan-forward.com/takaichi-tes...
japan-forward.com
Takaichi Tests a New Growth Formula for an Inflation Era, Economist Says | JAPAN Forward
Economist Hidetomi Tanaka says Takaichi is betting tax relief and welfare reform can steady households while Japan hardens industry against China.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 31/01/2026
An Economics That Will Not Yield to Rare-Earth Restrictions - researchmap researchmap.jp/blogs/blog_e...
researchmap.jp
An Economics That Will Not Yield to Rare-Earth Restrictions
Economic coercion from China has come into the spotlight following Prime Minister Sanae...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 15/01/2026
My latest working paper. Modern Monetary Theory, Functional Finance, and Fiscal Cycles: A Continuous-Time Macro Model with Interest-Rate Peg and Job Guarantee papers.ssrn.com/sol3/papers....
papers.ssrn.com
Modern Monetary Theory, Functional Finance, and Fiscal Cycles: A Continuous-Time Macro Model with Interest-Rate Peg and Job Guarantee
<div> This paper develops a continuous-time dynamic macroeconomic model explicitly grounded in Modern Monetary Theory (MMT), taking the analytical framework es
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 20/12/2025
My latest working paper. Job Guarantee, Climate Dynamics, and Animal Spirits: Stability, Hopf Bifurcations, and Policy Over-Reaction papers.ssrn.com/sol3/papers....
papers.ssrn.com
Job Guarantee, Climate Dynamics, and Animal Spirits: Stability, Hopf Bifurcations, and Policy Over-Reaction
Modern Monetary Theory (MMT) repeatedly stresses, in a Keynes-Minsky spirit, that investment and aggregate demand are shaped by animal spirits under fundamental
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 19/12/2025
My latest working paper. Sanaenomics Is Not a Return to Abenomics: High-Pressure Economy, papers.ssrn.com/sol3/papers....
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NBER @nber.org · 23/11/2025
New evidence that short-run temperature shocks affect unemployment dynamics, from Joshua S. Graff Zivin, Anthony Lepinteur, Matthew J. Neidell, and Adrian Nieto Castro www.nber.org/papers/w34487
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The Quarterly Journal of Economics @qjeharvard.bsky.social · 23/11/2025
Recently accepted by #QJE, “Bargaining and Inequality in the Labor Market,” by Caldwell (@sydneecaldwell.bsky.social), Haegele, and Heining: doi.org/10.1093/qje/...
doi.org
Bargaining and Inequality in The Labor Market*
Abstract. We use novel surveys of firms and workers, linked to administrative employer-employee data, to study the prevalence and importance of individual
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Tobias Harris @tobiasharris.bsky.social · 24/11/2025
In today's Japan Daily Briefing, some events to watch this week; Takaichi’s trip to the G20 summit, where she had her first meetings with an array of leaders but not with China’s prime minister; and the Takaichi government prepares to launch its answer to DOGE. open.substack.com/pub/observin...
open.substack.com
Takaichi's weekend in Johannesburg | Japan Daily Briefing
No breakthrough with China on the sidelines of the G20 but plenty of introductory meetings for the prime minister
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 23/11/2025
My new pieces. The forces vehemently criticizing the Takaichi administration appear to consist primarily of three groups: pro-China elements, certain segments of the legacy (or "old") media, and advocates of fiscal austerity. t.co/rn32QbDoGt
t.co
https://www.sankei.com/article/20251123-FBPVE5KBV5FMLFSDGY7SQ4EZRM/
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 21/11/2025
Had a great time, as always, talking with @deanbaker13.bsky.social. This time for his podcast about my recent book, The Road to Freedom. www.youtube.com/watch?v=nW5c...
youtube.com
Mostly Economics Podcast #30: What Real Freedom Requires with Joseph Stiglitz
YouTube video by Center for Economic and Policy Research
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Andrew Kelly @andrewkelly.bsky.social · 22/11/2025
I’ve wanted to read these for many years. Coming next month from University of Chicago press.
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 04/09/2025
I had a good talk with Mónica Rincón of @cnnchile.bsky.social back in July www.youtube.com/watch?v=R5Kf...
youtube.com
Joseph Stiglitz, ganador del Nobel, reflexiona: ¿Cuáles son las amenazas de la democracia?
YouTube video by CNN Chile
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 04/09/2025
Science has saved countless lives and will save many more if we let it. But proposed cuts to NIH and NSF threaten to shut down labs and end promising clinical trials. Now is the moment to act. Congress must protect and restore funding for medical research: tinyurl.com/24p2n4fc
tinyurl.com
Stand up for Cures, Not Cuts
Medical Research Saves Lives – But Progress Is At Risk. Congress is considering a 40% cut to life-saving cures, which would shut...
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市川沙央 ICHIKAWA Saou @ssaaoouu.bsky.social · 04/09/2025
『女の子の背骨』9月26日発売 (オンナノコノセボネ) 市川沙央/文藝春秋 ISBN 978-4-16-392021-4 芥川賞受賞後第一作「オフィーリア23号」と「女の子の背骨」を収録した単行本が9月26日に発売になります。表紙は『ハンチバック』から続けてIna Jangさんの作品です。どうぞ🙇‍♀️よろしく🙇お願い🙇‍♂️いたします……‼︎ ちなみに私の誕生日は9月27日です(無形の圧力 www.hanmoto.com/bd/isbn/9784...
hanmoto.com
女の子の背骨 市川 沙央(著) - 文藝春秋
芥川賞受賞作『ハンチバック』を超える衝撃の第二小説集! 「何でもいいから何かを撃ち殺したい」 難病と生きる身体から放たれる言葉が現代を撃つ。 「おねえちゃまへ。元気ですか」 筋肉の難病を患… - 引用:版元ドットコム
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Michelle Ye Hee Lee @myhlee.bsky.social · 30/07/2025
Japan has issued a tsunami warning along the eastern coast, after an 8.7 magnitude earthquake off of Kamchatka Peninsula in Russia. The Japanese government expects tsunami as high as 3 meters and is issuing evacuation orders. Hoping all the affected communities will be safe.
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 08/07/2025
As more and more activity occurs online countries are losing revenue from sales, employment and profits taxes. Just because an activity is provided digitally doesn’t mean it should not be taxed. My op-ed in @theguardian.com www.theguardian.com/commentisfre...
theguardian.com
Trump is bullying Canada over ‘digital taxes’ and Canada caved | Joseph Stiglitz
The question now: will countries cave in to these threats or stick together and collect the billions they are rightly owed?
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 11/07/2025
I have collected a substantial collection of philatelic books, including a two-volume catalog of Lenin stamps from the Soviet era, an accompanying explanatory text, a comprehensive catalog of stamps(in Chinese), and a special issue of a British stamp magazine dedicated to Lenin stamps.
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Brad DeLong @braddelong.bsky.social · 06/06/2025
Subsidies, Sanctions, & SpaceX: Musk’s Gambit in the Post-Truth Political Economic Environment of Modern Republicanism What are the odds of Elon Musk’s personal bankruptcy over the next decade, anyway? In my view, they have just gone up a lot. Musk thought.. <braddelong.substack.com/p/subsidies-...>
braddelong.substack.com
Subsidies, Sanctions, & SpaceX: Musk’s Gambit in the Post-Truth Political Economic Environment of Modern Republicanism
What are the odds of Elon Musk’s personal bankruptcy over the next decade, anyway? In my view, they have just gone up a lot. Musk thought power came with a price tag. But he was wrong, and now is...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 15/05/2025
The necessity of a high-pressure economy and the limits of the Ishiba administration's economic policies Draft of an editorial submitted to the Sankei Shimbun(newspaper). Translated into English using Grok (unedited). www.sankei.com/article/2025... researchmap.jp/blogs/blog_e...
sankei.com
「ヤミ献金」疑惑と減税に消極的な政権、「ポスト石破」に求められる経済政策 田中秀臣
「高圧経済」という考え方がある。1950年代半ばから使われていたが、特に有名になったのは、ケインズ経済学の解説者として著名だったアルヴィン・ハンセンが『アメリ…
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 15/05/2025
It's been a month since then, but I'd like to write about it again on my blog. I posted it on Hatena Blog. Memories of STAMP-SHOW2025 (Winning the Selection Committee Award and the Talk Show “Stamp Collecting and Japanese Economists”) tanakahidetomi.hatenadiary.jp/entry/2025/0...
tanakahidetomi.hatenadiary.jp
STAMP-SHOW2025の思い出(選考委員賞受賞とトークショー「「切手蒐集と日本の経済学者たち」」) - 切手の思想家たち2025
久しぶりの投稿です。もう早いものでひと月前ですが、STAMP-SHOW2025に、応募作を一点「脇村義太郎『趣味の価値』における切手の世界」を出品し、下記のリンク先のように山田選考委員賞を頂きました。とても嬉しいことです。ありがとうございました。 郵趣MYコレクション展2025 選考結果|STANP-SHOW2025 当日の写真を二点。ダイエットが必要だw。 応募した時点では、多様性を重視するとい...
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Adam Posen @adamposen.bsky.social · 04/04/2025
Trump's tariffs are designed for maximum damage—to America This is not a both sides have a point situation. Maury Obstfeld @piie.com speaking truth to power. www.piie.com/blogs/realti...
piie.com
Trump's tariffs are designed for maximum damage—to America
President Donald Trump touted his bewildering array of "Liberation Day" import tariffs as carefully calibrated to offset trade partners' tariff, nontariff, and currency barriers to US exports. However...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 03/04/2025
Many anonymous accounts using Japanese are “Trump enthusiasts” and get angry when we criticize tariff policies that cause such obvious economic damage to Japan. In the first place, he is the president of another country.
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 25/03/2025
With Tomohiro Hirano.
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 27/03/2025
Now out, a compilation of my writing on inequality and what we can do about it. Published by @oxfordunipress.bsky.social. Available to order and will ship on April 6: global.oup.com/academic/pro...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 19/03/2025
Upcoming events. Admission free. Talk Show “Stamp Collecting and Japanese Economists” Speaker: Hidetomi Tanaka (economist: professor :Jobu University) Sunday, April 13, 13:00-14:00. yushu.or.jp/event/s_show... Location, etc. ↓English yushu.or.jp/english/e_ib...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 05/03/2025
“A government without basic policies is like a beer hall without a latrine”. (Haruki Murakami)
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Joseph E. Stiglitz @josephestiglitz.bsky.social · 04/03/2025
Europe must seize all Russian assets under its control and use the money for Ukraine's defense. Authoritarianism is rising and Europe has become the world’s bulwark against it, @andrewkosenko.bsky.social and I write in @projectsyndicate.bsky.social
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 02/03/2025
So-called “ dubious stamps ” of Djibouti. I might buy it because I collect petroleum stamps too.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/02/2025
I collect Karl Marx stamps as a hobby. I plan to exhibit them at an upcoming stamp show.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 13/02/2025
Don't let the Trump administration decide Ukraine's fate.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 12/02/2025
The highest denomination bill I have is the Zimbabwean one hundred trillion dollars. Even this would not buy a slice of bread, but at an izakaya in Tokyo, out of sheer curiosity, I gave this as a gift and the drinking fee was reduced as a favor. Germany's highest denomination stamp,50 billion marks.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 01/02/2025
R.I.P. Takuro Morinaga (1957-2025). One of Japan's most popular and beloved economists among the people. Morinaga always emphasized the improvement of people's wellbeing and was also a defender of pacifism and otaku culture. He was also a critic of austerity policies.
At an ingenious museum displaying B-grade treasures that Morinaga loved all his life. Some of his writings.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 07/01/2025
The centennial of Yukio Mishima. The economist who was closest to Mishima was Seiichiro Takahashi. In his “Ninety Years of Recollections,” he wrote an essay detailing his personal relationship with Mishima.Takahashi gave a toast at Mishima's wedding.
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 01/01/2025
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Diane Coyle @dianecoyle1859.bsky.social · 26/12/2024
The long shortlist for the 2024 Enlightened Economist book of the year www.enlightenmenteconomics.com/blog/index.p... (NB my entirely arbitrary and personal choice)
enlightenmenteconomics.com
2024 in reading: The Enlightened Economist Prize shortlist | The Enlightened Economist
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mofusand(ぢゅの) @sharkcat.bsky.social · 27/12/2024
仕事納めだー
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 27/12/2024
Japan’s cabinet approved a record $732 billion budget for the fiscal year starting April 2025, setting up the minority government of Prime Minister Shigeru Ishiba for a key test of its longevity in getting the proposal approved by parliament www.bloomberg.com/news/article...
bloomberg.com
Japan’s Cabinet Agrees Budget, Setting PM Ishiba Up For New Test
Japan’s cabinet approved a record ¥115.5 trillion ($732 billion) budget for the fiscal year starting April 2025, setting up the minority government of Prime Minister Shigeru Ishiba for a key test of i...
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 25/12/2024
The work of Tokuzo Fukuda, one of the earliest introducers and critics of Karl Marx in Japan, will be newly edited and published with my detailed commentary. A Reexamination of the Starting Points of Economic History from the Viewpoint of Historical materialism. www.shinzansha.co.jp/book/b101078...
shinzansha.co.jp
【福田徳三著作集 第21巻】 唯物史観経済史出立点の再吟味 - 信山社出版株式会社 【伝統と革新、学術世界の未来を一冊一冊に】
階級的利害を超えた「真正のデモクラシー」を追求する福田の、「マルクスのアジア的唯物史観」への批判的検証とその到達点。 福田徳三研究会 編
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Hidetomi Tanaka @hidetomitanaka.bsky.social · 25/12/2024
The Review of Keynesian Studies Monetarist Rule versus Keynesian Stabilization Policy Mix in a Simple Macrodynamic Model Toichiro Asada 2024 Volume 6 Pages 1_1-1_34 www.jstage.jst.go.jp/article/revk...
jstage.jst.go.jp
Monetarist Rule versus Keynesian Stabilization Policy Mix in a Simple Macrodynamic Model
In this paper, we study mathematically the performances of alternative two macrodynamic models, that is, the model with inactive Monetarist fiscal and …
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