从哈耶克商业周期理论看全球金融危机

Explaining the Global Financial Crisis from the Perspective of the Haye kian Business Cycle Theory

奥地利学派的商业周期理论主要涉及第三代代表人物米塞斯的开拓性贡献和第四代代表人物哈耶克的进一步发展。哈耶克也因其在这方面的贡献而荣获1974年诺贝尔经济学奖。本文总结和分析了哈耶克的商业周期研究成果,他的反稳定论者方案,他的商业周期理论核心内容,他依据其商业周期理论提出的"反危机"方案,以及哈耶克的理论和方案对"大萧条"和2008年全球金融危机成因的解释力。

Austrian theory of the business cycle was mainly developed by Mises,the third-generation representative of the Austrian School of Econom ics and Hayek,the fourth- generation representatives of that School. Hayek also received the 1974 Nobel Prize for econom ics because of his contribution to the developm ent of m onetary and business cycle theories.This article introduces and analyses Hayek's business cycle study,his argum ents against the Keynesian stabilization program,his own business cycle theory,and his 'anti- crisis'program which is based on it. The paper also shows that Hayek's theory can well explain the causes of the'Great Depression'and the global financial crisis in 2008 as well.