马克思主义借贷资本再生产理论模型构建——兼论当代资本主义债务危机爆发的原因  

Establishment of the Marxist Theory Model of Loan Capital Reproduction:On the Reasons for the Outbreak of Contemporary Capitalist Debt Crisis

作　　者：焦成焕 杨治清 JIAO Chenghuan;YANG Zhiqing(School of Marxism,Shanghai University,Shanghai 200444)

机构地区：[1]上海大学马克思主义学院,上海200444

出　　处：《经济纵横》2024年第5期34-47,共14页Economic Review Journal

摘　　要：马克思在两大部类社会再生产理论模型中,以产业资本为例揭示了社会总资本循环所需的均衡条件和最佳比例,但并没有将资本循环中沉淀下来的闲置资本和借贷资本纳入两大部类社会再生产理论模型中,而这两类资本已成为现今重要的资本形态。文章试图拓展马克思两大部类社会再生产理论,建立借贷资本再生产理论模型,并探讨资本主义债务危机产生的原因。首先,假设扩大再生产投资不完全有效,从而在社会资本扩大再生产模型中引入闲置资本,并揭示闲置资本的不断积累将导致生产过剩;其次,在闲置资本基础上引入借贷资本,构建借贷资本扩大再生产模型,并考察闲置资本和借贷资本在扩大再生产中的动态过程。引入借贷资本后,再生产模型可以应用于对债务的分析。结果发现,资本主义生产必然导致债务不断累积,引发债务危机,进而导致经济危机的爆发,经济增长率、利率、上一年杠杆率是影响经济危机爆发及其规模的主要因素。Karl Marx used industrial capital as an example to reveal the equilibrium conditions and optimal ratios required for the circulation of total social capital in the social reproduction theory.However,he did not include idle capital and loan capital deposited in the capital circulation in the model of the two major depart⁃ments of social reproduction.The article expands Marx’s interpretation of two major departments of social re⁃production,establishes a model of loan capital reproduction,and explores the reasons for capitalist debt crisis.Firstly,with the assumption that expanding investment in reproduction is not entirely effective,idle capital is introduced into the model of social capital expansion reproduction,and the continuous accumulation of idle capital will lead to overproduction.Secondly,loan capital is introduced on the basis of idle capital to establish a model of loan capital expansion reproduction,and the dynamics of idle capital and loan capital in expansion reproduction is investigated.After the introduction of loan capital,the reproduction model can be employed to analyze debt.The results indicate that capitalist production inevitably leads to the accumulation of debt,trig⁃gering a debt crisis and ultimately leading to the outbreak of an economic crisis.Economic growth rate,inter⁃est rate,and leverage ratio from the last year are the main factors affecting the outbreak and scale of an eco⁃nomic crisis.

关 键 词：两大部类 闲置资本 借贷资本 债务危机 经济危机 

分 类 号：F09[经济管理—政治经济学]