基础货币投放机制主流解释的马克思经济学批判及实证考察  

Marxist Economics Critique and Empirical Examination of the Mainstream Explanation of the Base Money Supply Mechanism

作　　者：朱仁泽 Zhu Renze

机构地区：[1]中国延安干部学院教学科研部,陕西延安716000

出　　处：《当代经济研究》2023年第9期25-38,F0003,共15页Contemporary Economic Research

基　　金：国家社会科学基金青年项目(18CKS004);国家社会科学基金一般项目(18CJY062)。

摘　　要：基础货币对实体经济发挥作用需要通过特定的投放机制才能实现,西方主流经济学将此归结为货币政策传导机制,并形成“货币观”和“信贷观”两个解释流派。这些解释没有体现基础货币投放机制的本质特征。目前基础货币供给实质上是依照生息资本的逻辑运行,其投放机制本质上是生息资本与产业资本之间的投融资关系。现有理论模糊了货币作为“收入的货币”与货币作为生息资本的区别,进而将产业资本与生息资本的投融资关系错误地理解为简单的供需关系。在新发展格局下,我们需要改变依照生息资本逻辑投放基础货币的机制。The role of base money in the real economy needs to be realized through a specific investment mechanism,which is attributed to the monetary policy transmission mechanism by mainstream western economics,and lcads to two schools of intcrprctation,namcly,the"monctary vicw"and thc"credit vicw".Thcsc intcrprctations do not reflect the essential characteristics of the base money supply mechanism.At present,the supply of base money is essentially operated according to the logic of interest-bearing capital,and its supply mechanism is essentially an investment and financing relationship between interest-bearing capital and industrial capital.The existing theories have blurred the distintion between money as"income money"and money as"interest-bearing capital",and thus wrongly interpreted the investment and financing relationship between industrial capital and interest-bearing capital as a simple su1pply and demand relationship.Under the new development pattern,we need to change the mechanism of base money supply according to the logic of interest-bearing capital.

关 键 词：基础货币投放机制 货币政策传导机制 生息资本 货币 

分 类 号：F014.36[经济管理—政治经济学] F031.2