凯恩斯的回归:从世界货币到国际国币?

The Return of Keynes: From World Currency to International Currency

当前的经济危机让人们开始质疑美元作为世界货币的长久性和正当性,呼唤新的"布雷顿森林",这样就将凯恩斯重新带入人们的视野。凯恩斯最初布雷顿森林的提议在于反对"利率在正常金融力量的作用下在全球范围内处于同等水平的导致风险的制度",反对黄金或者其他任何"可自由兑换的世界标准",主张"一个多方管理的世界货币(不单是某个国家的货币)来解决贸易失衡,其认为经济活动复苏有赖于国家经济管理的自主性,而资本控制是关键。凯恩斯的提议基于政治理由(即美国的霸权)被拒绝了,但现实经济的发展和当下的经济危机证实了"国际货币不再可以是单个国家的货币。凯恩斯提议或许是寻求当前危机出路的最好的起跑点,即好国际合作而非霸权才是唯一的出路。

The current economic crisis forces the people to doubt the justness and sustainability of US dollar as the world currency and then to call for a new ＂Bretton Woods system＂, thus bringing Keynes back. The original purpose of Keynes＂ proposal for Bretton Woods system is to oppose the ＂system that will bring about risks when the interest rate around the world is at the same level＂, to oppose gold or any other ＂world standard that is freely convertible＂. He suggested that ＂a world currency （not that of a single country） that is managed by multi-parities will help to resolve the imbalanced trade. The economic recovery relies on the initiative of a national economic management while the capital control is the key. Due to political concern （America＇s supremacy）, Keynes＂ proposal was rejected. But the economic development and the current economic crisis prove that ＂international currency can no longer be the currency of a single country＂. Keynes＂ proposal may be the best starting point to get out of the current crisis. In other words, international cooperation rather than hegemony isthe way out.