货币政策与就业:西方理论争论与反思——兼论促进就业的新型货币政策

Monetary Policy and Employment:Debate and Reflection on Western Theories——Concurrent Discussion on the New Monetary Policy That Promotes Employment

货币政策能否影响就业,经济学界并没有形成共识。古典经济学、货币主义、理性预期学派、极端自由主义学说,都否定货币或货币政策对就业的影响,而凯恩斯主义、新凯恩斯主义、金融深化论、调节学派、货币循环理论和现代货币理论等则给予了不同程度的肯定回答。尽管西方不同经济学流派存有争议,但它们都有一个共同的缺陷,那就是没有区分社会再生产中作为货币的货币和作为资本的货币,因而不能正确认识和把握货币政策影响就业的逻辑和路径。实践中二级银行体系下货币政策实施过程贯彻了生息资本的逻辑,货币供给和货币资本化直接服务于金融资本而不是产业资本,助推了金融化和虚拟经济的扩张,造成对产业资本和就业扩大的限制。走出货币政策理论和实践困境的关键在于正确区分货币与货币资本,厘清货币政策影响就业的理论逻辑,创新货币政策理论,在此基础上构建扩大就业的新型货币政策。

There is no consensus in the economics community about whether monetary policies can affect employment.The classical economics,the monetarism,the rational expectations school,and the extreme liberalism all deny the impact of money or.monetary policies.on employment,while the,Keynesianism,the neo-Keynesianism,the theory,of financial deepening,the adjustment school,the monetary circulation theory,the modern monetary theory,etc.have afirmed such impact to different degrees.Although there are disputes between different schools of economics in the West,these schools have a common defect.They do not distinguish money as currency and money,as capital in social reproduction,so they cannot correctly understand and grasp the logic and path of monetary policies affecting employment.In practice,the logic of interest-earning capital runs through the process of monetary,policy implementation under the secondary banking system.Money supply and capitalization directly serve financial capital rather than industrial capital,boosting financialization and the expansion of the virtual economy and restricting industrial capital and employment expansion.The key to getting out of the theoretical and practical dilemma of monetary policies is to correctly distinguish money and monetary capital,clarify the theoretical fogic of monetary policies fecting employment,innovate the monetary policy theory,and establish a new type of monetary policy to expand employment on this basis.