货币的本质：后凯恩斯主义的观点

The Nature of Money: From the View of Post-Keynesian Economics

本文论述的货币理论基于以下三个基本命题:第一,正如克洛尔(1965)提出的著名论断,货币可以交换商品,商品也可以交换货币,但是,商品不能直接交换商品;第二,货币始终都是一笔债务,根据命题一,货币不能是任何一种商品;第三,债务违约是可能的。由以上三个命题,可将非主流货币文献中讨论的一些共同主题联系起来,构建一种货币理论。本文采用的方法将以下货币理论的核心观点整合在一起,包括明斯基(1986)的著作(该文在很大程度上倚重其博士学位论文导师熊彼特1934年的论著);摩尔的内生货币分析;法国—意大利学派的货币流转分析;戴维森基于不确定性对凯恩斯所做的解释;戈德利基于会计恒等式的分析;凯恩斯、卡莱斯基、卡尔多和博尔丁的资本分配理论;英厄姆的社会学分析;英尼斯、纳普和古德哈特的货币名目论或国家货币理论。因此,本文采用了与以往研究略有不同的方法,发展了非主流货币理论一些更为一般化的结论。

This paper advances three fundamental propositions regarding money： （1） As R.W. Clower （1965） famously put it, money buys goods and goods buy money, but goods do not buy goods. （2） Money is always debt it cannot be a commodity from thefirst proposition because, if it were, that would mean that a particular good is buying goods. （3） Default on debt is possible. These three propositions are used to build a theory of money that is linked to common themes in the heterodox literature on money. The approach taken here is integrated with Hyman Minsky＇s （1986） work （which relies heavily on the work of his dissertation adviser, Joseph Schumpeter [1934-]）; the endogenous money approach of Basil Moore; the French-Italian circuit approach; Paul Davidson＇s （1978） interpretation of John May- nard Keynes, which relies on uncertainty; Wynne Godley＇s approach, which relies on accounting identities; the ＂K＂ distribution theory of Keynes, Michal Kalecki, Nicholas Kaldor, and Kenneth Boulding; the sociological approach of Ingham; and the chartal- ist, or state money, approach （A. M. Innes, G. F. Knapp, and Charles Goodhart）. Hence, this paper takes a somewhat different route to develop the more typical hetero- dox conclusions about money.