午夜剧场

This book is a complete translation of "Das Gespenst des Kapitals" by Joseph Vogl, a professor at Humboldt University of Berlin. Since its publication in 2010, it has already been translated into eight languages and has gained a wide readership.

The theme is to re-read a world covered in instability and uncertainty, using economic and financial theories, ideas, and real-world events as clues. The keyword is "Oikodizee." This is a term coined by the author based on "Theodicy" (theodicy), which asks why evil exists in a world created by God; if translated, it would be something like "Economic Theodicy." Speaking of "theodicy," Leibniz comes to mind, who argued that the world moves toward an optimal state, which is two sides of the same coin as Adam Smith's "invisible hand." This worldview, which has never let go of Christian Europe, seems to still dominate modern capitalist economies and financial markets today, maintaining a resilient vitality as "Oikodizee." In reality, however, economic crises and market crashes that were thought to be impossible or "unprecedented"—far from the optimal state—are repeated. How should we understand this massive contradiction? This is the primary concern of this book.

As the author states, this book is not a "prescription required for the remodeling of the modern economic system." However, this is not because the author is not an expert in economics or finance. Rather, the significance of this book lies in the fundamental questions that emerge when looking at the world of economics and finance from his original fields of thought and media theory—that is, in questioning the "Oikodizee" itself that lies at the foundation of that world. It can be called an extremely stimulating intellectual challenge.

The author is quite popular and extremely busy, serving as a permanent visiting professor at Princeton University, but since this is his substantial debut in Japan, I asked him for a "Preface for the Japanese Edition" based on our friendship of nearly 30 years. Just before printing, he sent a long "Afterword." In terms of content, it could be considered a new chapter. As the translator, I was a bit flustered, but I believe this has turned it into a special edition for Japan. I am truly grateful! I would be delighted if you would give it a read.

By Joseph Vogl, Translated by Isao Hada

Hosei University Press

320 pages, 3,400 yen (excluding tax)

*Affiliations and titles are as of the time of publication.