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The article takes a look at the American attitudes toward Japan and China in 1937-38. The Chinese Cultural Society of New York published in October 1937 a reprint of 39 editorials from American papers on the Far Eastern crisis. The editor, M. Hsitien Lin wrote in the foreword "Of some 5,000 editorials which have been examined, there is none that justifies Japanese aggression or condemns Chinese resistance. In the American press Japan is almost universally treated as the aggressor and China as the victim in the undeclared war. As to American policy, the press generally favors neither extreme isolationism nor political entanglements or alliances, but a golden mean, whereby world peace, it is hoped, may be maintained." The present study is designed to test the validity of this impression as well as to test the utility of a method of attitude measurement by press sampling. It is impossible here to enter into a discussion of the relationship between beliefs as to facts and emotional attitudes such as are measured by the indices used, except to suggest that attitudes, which are at first accompanied by emotions, may in time become beliefs regarding "facts" which are taken for granted.

The article presents authors' comments on three research papers on economic development after Second World War by economists Erik Lundberg, George H. Hildebrand and Shigeto Tsuru. These papers point out some striking contrasts among the experiences of countries including Scandinavia, Japan and Italy and the postwar experience of the U.S. For example, these papers insistently raise the question why the U.S. has done so poorly in achieving stable and rapid growth. They discuss whether it is a matter of economic structure, or partly a fault of economic policy. Research paper by Hildebrand provides a summary both of the Italian postwar economic achievement and of Italy's still pressing problems of unemployment and incomplete development. But there are aspects of his analysis that needs to be questioned. Moreover, papers of Hildebrand and Tsuru gave the impression that something of a catching-up process has been important in the Italian and Japanese economies. In his paper Lundberg drew attention to some destabilizing effects of governmental action in Sweden. They refer to public investments or publicly controlled investments as an instrument of anti cyclical policy.

This article presents information related to sociology as of April 1, 1950. The Committee of the American Sociological Society on Contributed Papers for the 1950 annual meeting consists of Robert E. L. Fans, chairman; and A. B. Hollingshead and T. C. McCormick. Papers submitted for consideration should be sent not later than June 1, 1950. Recently elected officers of the Pacific Sociological Society for 1950 are: President, Leonard Bloom; Vice-president, Southern Division, Ernest Greenwood; Vice-president, Central Division, Carlo Lastrucci; Vice-president, Northern Division, Joseph Bachelder; and Members of the Advisory Council, Robert O'Brien and Paul Wallin. Gwynne Nettler continues as secretary-treasurer. The Society's annual meeting will be held in Seattle, Washington, during April 21-22, 1950. The Twenty- second annual meeting of the Japan Sociological Society was held in Tokyo, Japan, during October 15-16, 1949. The meeting was attended by more than 250 members. Fifty-two reports were given on various aspects of social theory and social research, and three public lectures on the topic, "The Population Problem in Japan."

This paper examines three models of three countries showing the common economic theory of the firm underlying the models and modifications of the theory to account of institutional peculiarities. The models chosen for examination are Wharton Mark III, Bank of Canada RDX2, and the Economic Planning Agency. They are chosen from among the various models of the U.S., Canada, and Japan because all three use quarterly data, were made recently, are relatively similar in size and cover various sectors of the economy from demand as well as supply sides. The RDX2 model estimates business investment in machinery and equipment in aggregate terms rather than in industrial sectors. As in the case of investment equations, the adaptive adjustment equation, together with the mark-up on the unit wage rate, serves as the basis for price equations in these three macro models. The weighted average of U.S. prices is used in some price equations of the RDX2 model on the assumption that U.S. subsidiaries in Canada may follow management decisions of the parent companies. As a possible way to overcome the ad hoc introduction of lags, models which incorporate adjustment costs are suggested. However, the adjustment cost approach may not in general give better alternatives, particularly for models involving some degrees of aggregation. The three models surveyed in this paper, especially the Wharton and RDX2 models, employ the Almon lag in estimating the coefficients of the lag polynomial.

The article discusses evaluation and cross-cultural application of a Japanese form of the survey of interpersonal values. There is a growing literature reporting studies in which American paper and- pencil personality tests have been translated and then used in cross-cultural research. The present paper reports such an evaluation of a Japanese translation of the Survey of Interpersonal Values (SIV) prior to cross-cultural application. The scales in the SIV originally had been identified by means of an item factor analysis. A similar analysis was proposed for the translated items in order to determine whether the same constructs would emerge as factors in the Japanese culture. The results of the factor analysis indicated that the constructs incorporated in the SIV do emerge as factors in the Japanese culture, and that the large majority of the items in translation have their principle loadings on the same factors as did the corresponding original items. Data were gathered at five Japanese universities for samples of 258 males and 505 females selected so as to be comparable in educational and socioeconomic level to the individuals comprising the American normative group. In addition, 249 male and 227 female students were similarly selected and tested at three different Japanese urban high schools. The latter two groups were to be compared with an American sample made up of students from five Southern California high schools, of similar age and grade level.

The article offers information on the symposium entitled "Review of Nuclear Proliferation Problems" organized by the Stockholm International Peace Research Institute (SIPRI) and conducted in Tallberg, Sweden on June 15-18, 1973. The meeting delved into various topics including the spread of nuclear technology, nuclear developments, safeguards, cooperation in peaceful uses of nuclear energy, military consequences of the proliferation of nuclear technology, the Non-Proliferation Treaty (NPT) review conference, and security problems involving non-nuclear weapon countries. Delegates from India, Israel, Japan, USSR, Mexico, and the United States attended the gathering.

Most of the existing studies on the international capital market are based on a segmented market approach. This approach treats the different national capital markets as separated entities, hardly related to each other. For this reason (under the assumption of market segmentation), comparable capital assets may differ in their return on different national markets. Although market segmentation enjoys a surprisingly large following, it is not the only possible interpretation of the international capital market. The alternative hypothesis, i.e., that prices of capital assets in the international capital market behave as if there is one multinational perfect capital market, should be considered. The one market hypothesis has the advantage of being consistent with much of the accepted economic theory. Also the one market hypothesis is unambiguous where market segmentation can stand for any number of specific imperfect market formations. Market segmentation is widely accepted as the only possible structure of the international capital market. Different currency areas, separated political organizations and trade barriers have been given as a priori evidence for the segmentation of the international capital market. This, however, is not necessarily the case. An examination of the behavior of capital asset prices reveals that the price behavior is consistent with the one market hypothesis. It should be noted, however, that a certain body of data can be consistent with both the one market hypothesis and any one of several specific forms of market segmentation. But as the main theme of this study is to show the validity of the one market approach to the multinational equity market, it is sufficient to show that one cannot reject the one market hypothesis with regard to this market. [ABSTRACT FROM AUTHOR]

The article presents a reprint of the paper "Takaisososhiki No Kanri Shisutemu," by Takehiko Matsuda and Takuji Morohoshi which appeared in the April 1970 issue of the journal "Keiei Kagaku." This paper focuses on the issue of management systems in multilevel organizations. When Japanese and American management are compared, various differences are found. These differences are deeply rooted in the differences between both countries' environmental conditions, such as the spiritual climate and the social and cultural background. In Japanese society the first condition of group structure lies in the community of place of the individuals comprising it. In contrast to this, American society is built on a community of qualifications. Japanese society, which stresses the community of place, practices group recognition and the constituent's sense of solidarity with the group is strong. There is a large gap between Japan and America in the degree of development of the contractual spirit. Japanese management, which is regarded as human centered, values highly the spirit of harmony for goal achievement, and it desires trouble-free human relationships, even though efficiency may fall somewhat.

The purpose of this paper is to investigate the sources of economic growth in Japan and in compare the results with those in the U. S. and Europe as studied by E. F. Denison. The method used by Denison is followed as far as possible. The character of this paper is of fact finding, and the interpretation of results or the originality of methodology is not dealt with here. The results may be summarized as follows. (1) Japan's growth rate is two times that of Europe and three times that of the United States. (2) The contributions of labor, capital, and the residual to economic growth are all higher for Japan than for the U. S. or Europe. (3) Factors which account for the higher contribution of labor to economic growth are (a) the higher rate of increase in employment, (b) less shortening of working hours, and (c) improved age and sex composition. (4) Factors which account for the higher contribution of capital to economic growth are a higher rate of increase in capital input and the high elasticity of production with respect in capital. (5) Other notable points include: (a) the contribution of education is lower for Japan; (b) the capital-labor ratio in Japan increased remarkably; (c) capital's share of national income is higher; and (d) 60% of Japan's economic growth is accounted for by the residual. [ABSTRACT FROM AUTHOR]

This article examines the currency contracts of U.S. imports from Japan and West Germany in fiscal years 1971 and 1973. These countries are two of the most important trading partners and their currencies have appreciated particularly strongly relative to the dollar during recent years. A sample of 564 U.S. customs invoices was used to establish the currency denomination of contracts for the two countries. The magnitude of the currency-contract effect depends on the proportions of price agreements fixed in the importers' and the exporters' currency. If the price is set in dollars for any U.S. order, changes in exchange rates do not alter the dollar cost of outstanding contracts. It was found that Japanese sellers typically accept prices fixed in dollars, while German exporters set selling prices predominantly in their own currency. For the two fiscal years combined, nearly four-fifths of U.S. imports from Germany were priced in Deutsche marks, while only one-third of all imports from Japan were denominated in yen. The currency-contract effect was calculated for the months following a hypothetical 10 percent devaluation of the dollar. Initially, all imports arriving here would have been contracted prior to the devaluation and all of those with prices in foreign currencies would be increased in dollar value.

The aim of this paper is to describe and analyze the processes of institutional transition--the break down of the old and the emergence of a new equilibrium. Specifically, it purports to show how the traditional Japanese family modifies its organization as it responds to economic, cultural, and moral forces at work in Hawaii. A comprehensive study of institutional transition requires a knowledge of what the institution was prior to its modification, and an understanding of the relevant factors which, by interacting with the traditional values, produce a new structure. A knowledge of the former gives a basis for an orderly description of the changes in institutional structure, a knowledge of the latter provides a conceptual framework for a systematic description of the available facts of changing institutional behavior patterns. The traditional family in Japan is, unlike the husband-wife centered unit of the society, essentially a parent-child centered unit. Herein lies the conceptual and ideological difference between the Oriental and Occidental family system.

This paper presents an attempt to examine the applicability of the relative income hypothesis (RIH) in terms of its various specifications proposed by Duesenberry, Duesenberry, Eckstein and Fromm (DEF), Davis and the authors (MD). Using the time series data for 1951 through 1968 the analysis has been carried out for Canada, Finland, Guatemala, Honduras, India, Japan, Philippines, Sweden, United Kingdom and the United States. It is found that RIH provides a fairly good representation of the consumption behaviour of all the countries included in the study. All specifications, however, do not perform equally well. DEF and Davis functions score the maximum points; MD comes at par with DEF in case of Finland, Guatemala, and India. The original Duesenberry specification performs very poorly. This lends us to conclude that the process of habit formation is continuous contrary to what is implied by Duesenberry's original specification and that consumption is a better indicator of the standard of living than income is. Estimates of the long-run marginal propensities to consume are essentially the same as those computed from the permanent income hypothesis by Singh and Drost [1970]. This lends support to the view that the two hypotheses have essentially the same long-run implications. [ABSTRACT FROM AUTHOR]

The Japan-American revised Security Treaty of 1960 allows Japan to give notice in 1970 of her desire to abrogate the treaty. Does the present state of public opinion in that country suggest that such a notice will be given? This paper is a careful analysis of nationwide poll findings in Japan which by no means indicate that the United States can afford to be complacent regarding the answer. [ABSTRACT FROM AUTHOR]

The results of this study indicate that the CAP Model was applicable to the TSE for the five year period from Oct. 1964 to Sept. 1969. The study has shown that investors in the TSE were compensated for bearing systematic risk. While the risk estimate of any one particular security may contain considerable error, individual errors tend to cancel one another when a portfolio is formed on the basis of risk estimates. The study showed that distinguishably different portfolios could be formed by grouping issues which have been ranked according to their systematic risk and that these portfolios were reasonably stable over time. This implies that past measures of risk can be used in the estimation of future levels of risk. Furthermore, portfolios should be diversified to the extent that risks which have no compensating return are minimized. If the total return and the diversification of the portfolio are controlled, it is then possible to predict the long term return of the portfolio relative to the return of the market. it was also concluded that for comparable indices during this period, the Japanese investor earned higher total returns, but his U.S. counterpart earned more excess returns. Furthermore, the two markets had a relatively low correlation coefficient. This indicates that higher returns could be achieved for the same amount of risk if an investor diversified into both markets instead of only one or that lower risk could be taken for a given level of expected return by employing the same strategy. [ABSTRACT FROM AUTHOR]

The article discusses fiscal policy in Japan. After summarizing Japanese economic developments from the early 1930s through World War II, the author discusses the worsening economic circumstances that prompted the U.S. government to dispatch Joseph Dodge to Japan as a Minister charged with stabilizing Japan's economy. The objectives and actions of Dodge's mission are discussed, as well as its achievements. The author also examines the work of a Tax Mission that arrived in Japan at around the time of Dodge's departure, headed by Professor Carl S. Shoup.

As excitement concerning trading stamps diminishes in the United States, and controversy abounds in Great Britain's venture, a stamp boom is taking place in Japan. The rapid development of trading stamps in Japan is analyzed in this article by a marketing specialist who has been a student of the trading-stamp industry in the United States for a number of years, and by a specialist in Japanese political and economic life. [ABSTRACT FROM AUTHOR]

The article discusses the investigations of the Atomic Bomb Casualty Commission in the U.S. to the possible delay effects of the bombings in Japan. The investigation points that the explosions were not monitored for radiation yield and that bombs of similar type have been tested which lead to tentative air-dose distance curves. Some of the effects of the explosion in Japan include the high occurrence of leukemia, increase of cancer in the survivors of the bombings, and cataracts. It also notes that the growth and development of children exposed in radiation have delayed in normal maturation growth.