次贷危机根源之探讨——基于马克思虚拟资本理论

A Probe into the Root of the Subprime Mortgage Crisis

美国次贷危机发生后,很多学者认为次贷危机产生于金融衍生品等虚拟资产的过度膨胀。笔者以马克思的虚拟资本理论为分析视角,将虚拟资本细分为两大类,通过深入探寻这两类虚拟资本和实体经济之间的关系,得出了次贷危机根源于实体经济中生产和消费矛盾的结论。

After the subprime mortgage crisis, a lot of scholars believe that it is due to the excessive expansion of virtual assets such as financial derivatives. Based on Marx＇ s analysis of the virtual capital, the authors divide virtual capital into two major categories, explore the relationship between virtual capital and real economy and come to the conclusion that the subprime mortgage crisis is rooted in the contradictions between production and consumption in real economy.