市场经济与软约束——对市场经济微观基础的反思

Market Economy and Soft Constraint——Reflection on Micro-foundation of Market Economy

市场经济发展的历史显示,预算软约束的发展趋势是越来越软、越来越社会化。本文从市场经济微观运行主体历史演化的角度分析企业、银行与政府的相互依存关系所形成的软约束,从技术变革和经济关系矛盾运动中解释软约束形式的历史演变,以产权社会化、经济金融化和保险化的内在变化说明整个社会经济关系变化所呈现的软约束新特征。本文的结论:产权社会化与预算软约束的常态化导致市场经济自身无法实现资源优化配置的理想功能,新古典的微观经济学基本原理无法解释现代市场经济主要组织的经济行为,需要建立新的微观经济学基本原理;预算软约束的外部性具有了整体性和全球性的特征,并成为全球金融危机和经济危机不断循环与周期性爆发的主要内在原因和结果。因此,必须加强对现代企业组织和金融机构的监管,制定适应时代发展的监管制度;加快建立国际经济新秩序、矫正失衡的国际储备货币体系和加强对跨国经济组织的全球管理。

The developing history of market economy shows that soft budget constraint is tend to be more and more socialized and soft.From the view of evolution on market economic micro-operation subject,the article analyzes the soft budget constraint formed from the inter-relationship of enterprises,banks and government;Through the contradicted movement between technology innovation and economic relationship,it explains the historical evolution of types of soft budget constraint;the inner changes on property socialization show new characteristics of soft budget constraint on entirely social economic relationship changes.The conclusions are:normalization of property socialization and soft budget constraint results in market economy itself can not realize the ideal function on resources allocation,and the existing microeconomics basic theories can not explain economic behaviors of main organizations in modern market economy,which means that new microeconomics basic principle should be proposed;Externalities of soft budget constraint have integrity and global characters,and it becomes main internal reason and result on finical and economic crisis.Therefore,supervision on modern enterprise and finical institutions should be enhanced,and supervising systems which adapt to the times should be proposed;New international economic order,and correct the imbalance of international reserve currency system should be accelerated to establish;Global management on transnational economic organizations should be strengthened imperatively.