脱实向虚、企业家劳动异质与供给侧结构性改革

Speculative Economy,Entrepreneurial Labor Heterogeneous and Supply-side Structural Reform

融合劳动价值论和新熊彼特增长理论,考虑需求结构升级、企业家劳动异质、经济增长导向三大假设,构建多部门新熊彼特增长模型,并运用31个省份1993—2018年的面板数据进行实证分析,发现“脱实向虚”对经济增长的影响机理是:“脱实向虚”引致企业家创新性劳动减少,生产率参数受阻,经济增长率下降。这使得新古典框架下“从资本向全要素生产率升级的创新性劳动偏向型道路”可能转向“从资本向投机演变的投机性交易劳动偏向型道路”,出现供给侧结构性失衡。只有优先解决“脱实向虚”带来的供给侧结构性失衡,才能回归供给侧的正常资源配置结构,因此,中国供给侧结构性改革的路径不能简单仿效西方进行管制放松或自由化,而应先运用政府之手,构建现代化经济体系,将投机性交易劳动关进“笼子”;进而运用市场之手,优化资源配置,释放创新性劳动的活力。

Based on the labor theory of value and the multi-sector Schumpeter growth theory,with comprehensive application of panel data for 1993-2018 years,this paper presents three hypotheses including demand structure upgrade,entrepreneurial labor heterogeneous and economic growth leading and builds a new Schumpeter growth model to explain the mechanism of economic growth affected by"the more speculative economy"and obtain the path of supply-side structural reform.This paper proposed that:the mechanism of economic growth affected by"the more speculative economy"is that"the more speculative economy"decrease the innovative labor,in addition,the total factor productivity is blocked and the supply side economic growth rate drops.The path upgrading from capital to total factor productivity may be replaced by the path evolving from capital to speculation and the supply-side structural imbalance of"bad driving the good"may appear.Only by giving priority to solving the imbalance of the labor structure of entrepreneurs in the innovation sector caused by"the more speculative economy",can we return to the normal resource allocation order within the product sector.The policy content of reform is not the deregulation or liberalization as in the west but focusing on the difference of the role between the government and market.The government needs to build a modern economic system and put transaction labor in the cage,the market needs to optimize the allocation of resources and release the vitality of innovative labor.