美国金融危机的政府因素——奥地利学派商业周期理论的视角  

Financial Crisis and Credit Expansion——in the view of Business Cycle Theory of Austrian Economic School

作　　者：黄雄[1] 

机构地区：[1]复旦大学经济学院

出　　处：《财经科学》2009年第1期1-7,共7页Finance & Economics

摘　　要：近期,美国次贷危机所引发的金融风暴成为众多学者的研究热点问题。大部分学者采用凯恩斯主义的典型观点,认为是市场失灵(需求不足)或者说政府的管制和干预不够造成了经济的萧条。为了应对萧条,政府应该尽早采取强有力的措施拯救市场,刺激经济。而在奥地利学派的米塞斯和罗斯巴德看来,大萧条的根源并不是经济的自由放任,恰恰是政府的干预,政府应对经济危机的正确做法不是去刺激经济、积极救市,而应该是放弃干预,采取自由的市场原则。本文试图就奥地利学派的商业周期理论来解读这次金融危机的根源和应对策略。Recently, the financial crisis caused by Subprime mortgage becomes a hot topic among a great number of economists. Most of them who adopt the typical ideas of Keynesianism believe that the economic depression, which was due to market failure （shortage of effective demand） or inadequate regulations and interventions made by government, should be rescued by governmental forceful practices promptly. While, in the view of Austrian Economic School, the ultimate cause of the depression was not laissez- faire, but governmental interventions, so the proper actions to cope with the depression are to stop government intervention and adhere to the flee market principle rather than to take some active measures to stimulate economy. Applying with the business cycle theory of Austrian Economic School, this article tries to interpret the origin of the crisis and discuss how to tackle with it. The whole article is divided into 3 parts： the first part gives a brief introduction to the business cycle theory of Austrian Economic School and a discussion related to the theories of Keynesianism . Then the second part particularly illustrates the root cause of the crisis, and puts forward the policies which are held by Austrian Economic School as the settlements. The last part focus on present finance environment and renovation problems in China and points out that the reform of the free mar- ket direction should be insisted.

关 键 词：奥地利学派 金融危机 次贷危机 商业周期 凯恩斯主义 

分 类 号：F837.12[经济管理—金融学]