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It is well known that Joseph A. Schumpeter delivered several lectures during his visit to Japan in early 1931. However, it is much less known that he wrote a memorandum on the ongoing Great Depression to a Japanese friend, who translated it – or had it translated by someone else – into Japanese and published it in a periodical run by one of the most influential business associations in Japan. This article produces an annotated English translation of the Japanese version of the memorandum, as the original manuscript – presumably written in English, French, or German – is missing. We introduce it with some remarks about Schumpeter’s connection with Japan, his relations with his Japanese friend, and some features of the memorandum seen in the light of his commentaries on the Depression just before and during his sojourn. By doing so, we aim to make Schumpeter’s bibliography richer.

Schumpeter’s Unknown Commentary on the Great Depression: An Annotated Translation from the Japanese Text