现代货币理论:一场新的宏观经济学革命  

Modern Money Theory:A New Macroeconomic Revolution

作　　者：李黎力[1] 张红梅 LI Li-li;ZHANG Hong-mei(School of Economics,Renmin University of China,Beijing 100872,China;Business School,Beijing Language and Culture University,Beijing 100083,China)

机构地区：[1]中国人民大学经济学院,北京100872 [2]北京语言大学商学院,北京100083

出　　处：《财经问题研究》2024年第12期28-39,共12页Research On Financial and Economic Issues

基　　金：国家社会科学基金重大项目“世界货币制度史的比较研究”(18ZDA089);北京语言大学中央高校基本科研业务费专项资金项目“区域价值链分工优化视角下的中国制造业外迁应对研究”(21YJ050005);雄安“揭榜挂帅”课题“全球价值链重构背景下雄安高质量打造新时代开放高地研究”(401242218)。

摘　　要：理解国家治理需要宏大多元的理论视野,与之密切相关的现代货币理论在近些年引发了广泛关注和讨论。本文基于经济思想史视角,从思想渊源、思想学派、研究传统和思想革命四个方面,廓清了现代货币理论的本来面目,展望了该理论的未来走向。作为一个新的宏观经济学派,现代货币理论产生于20世纪90年代,是对克纳普、米歇尔—因尼斯、凯恩斯、勒纳、明斯基和戈德利等思想先驱的思想,以及后凯恩斯主义、制度学派、马克思主义和卡莱茨基主义等思想流派的特色理论的重新组合和杂交增长,代表着历史上由来已久的货币、财政、就业、贸易和经济周期等经济学研究传统的当代复兴和最新发展。在国际金融危机和新冠疫情的冲击之下,现代货币理论引发了劳丹意义上的经济学革命,并有可能进一步引发库恩意义上的突变式经济学革命,从而改变整个宏观经济学的发展。To understand the unique theoretical logic of national governance,government governance,and macroeconomic regulation,it is necessary to go beyond the theoretical frameworks of traditional microeconomics and orthodox macroeconomics and absorb insights from the more diverse non‑orthodox economic ideas in the West.In recent years,a new macroeconomic trend of thought that has attracted widespread attention and huge controversy both domestically and internationally:Modern Money Theory(MMT),and it can provide us with new perspectives and insights.Most existing studies either focus on current policy debates or mainstream monetary economics and macroeconomic theories,resulting in a significant amount of misunderstanding and misinterpretation in the intense discussion of the MMT.From the perspective of the history of economic thought,this article clarifies the true nature of the MMT from ideological origins,ideological schools,research traditions,and theoretical revolutions,and looks forward to the future direction of the MMT.This article finds that as a new school of macroeconomics,the MMT was developed by Warren Mosler,L.R.Wray,and Bill Mitchell in the 1990s.It emerged as a recombination and hybrid growth of old ideas from pioneers such as Georg Friedrich Knapp,Alfred Mitchell‑Innes,John Maynard Keynes,Abba Lerner,Hyman Minsky,and Wynne Godley,as well as characteristic theories from post‑Keynesian,institutionalist,Marxist,and Kaleckian schools of thought.From the perspective of academic genealogy,the MMT leans towards the left in the political spectrum,advocating for“big government”and opposing market laissez faire.It represents the contemporary revival and latest development of the long‑standing research traditions of heterodox economics on money,public finance,employment,trade,and business cycles.Under the impact of the global financial crisis and COVID‑19,the MMT has triggered a theoretical revolution in economics in the sense of Larry Laudan,and will probably further trigger a paradigm shift in the sen

关 键 词：现代货币理论 经济思想史 经济学派 研究传统 经济学革命 

分 类 号：F091.3[经济管理—政治经济学]