Takata was born in the village of Toutoumi in the Ogi District in the Saga Prefecture, Japan.
He started teaching as an assistant professor of law at Kyoto University in September 1914.
In June 1919, he transferred to Hiroshima Teachers College (広島高等師範学校) as a full professor.
In 1955, he transferred to the newly reorganized Osaka Prefecture University, and in 1957 became head of Department of Economics.
Takata established the Social and Economic Research (ISER) of Osaka University with his student Michio Morishima.