熊彼特与凯恩斯的货币和危机理论

Money and Crisis in Schumpeter and Keynes

1929—1933年大萧条分别影响了凯恩斯和熊彼特的理论建构。作为回应,凯恩斯的《就业、利息和货币通论》是非常出色的表现,而熊彼特的《经济周期》相对于其《经济发展理论》而言却是一种倒退。为了建构一个有益于这个时代的货币理论,需要将熊彼特的图景和凯恩斯的深刻见解综合起来,前者着眼于有韧性的跨期资本主义过程,后者洞察了由资本主义金融结构的内生不稳定所导致的资本主义积累过程的脆弱性。近些年来,国家干预防止金融脆弱性演变为另一场大萧条的事实表明,一条混合型市场经济道路在维持经济稳定和增长上运行得更好。

The great depression(1929-1933)affected the post crisis theorizing of Keynes and Schumpeter respectively.Keynes's response to this trauma of the economy was his magnificent performance:The General Theory of Employment,Interest and Money,while Schumpeter's Business Cycles represented a retrogression from his Theory of Economic Development.To build a monetary theory that is useful to our times,it's necessary to integrate Schumpeter's vision of a resilient intertemporal capitalist process with Keynes'hard insights into the fragility introduced into the capitalist accumulation process by the essential instability of capitalist financial structures.The fact that state intervention has prevented the financial fragility from leading to a great depression suggests that an integrated market economy works better in terms of economic stability and growth.