论西方国家资产价格膨胀惯性问题:表现、成因与周期性矫正

On the Inertia of Asset Price Inflation in Western Countries:Manifestation,Cause and Periodic Correction

资产价格膨胀惯性是当代西方国家的突出经济问题。资产价格膨胀惯性问题集中表现为:资产价格上涨长期快于物价上涨、资产价格定价严重偏离实体经济、资产价格膨胀加剧实体经济萎缩和贫富分化,以及西方国家政府极力维持过高资产价格。金融资本支配下“产业资本—虚拟资本”的双重循环积累运动和利润瓜分矛盾激化,构成了资产价格膨胀惯性的滋生机制和触发机制。两种机制的共同作用最终导致西方国家资产价格膨胀惯性问题。资产价格膨胀惯性的周期性矫正实质上是资本主义生产相对过剩危机的现代表现形式。西方国家以宽松货币政策为主的政府干预是金融资本家与产业资本家相互妥协的结果,其目的是以透支国家信用为代价维持和巩固垄断资产阶级的经济统治地位。我国必须在社会主义市场经济体制下选择适合中国国情的政策来促进金融业健康可持续发展。

The inertia of asset price inflation is a prominent economic problem in contemporary Western countries.The inertia problem of asset price inflation is mainly manifested as asset price rising faster than commodity price for a long time,asset pricing seriously deviating from the real economy,asset price inflation exacerbating real economy shrinking and the polarization between the rich and the poor,and Western governments striving to maintain excessively high asset price.Under the control of financial capital,the contradiction between the dual cycle accumulation movement of“industrial capital—virtual capital”and profit sharing is intensified,constituting the breeding mechanism and triggering mechanism of asset price inflation inertia.The joint effect of these two mechanisms ultimately leads to the inertia problem of asset price inflation in Western countries,and the periodic correction of asset price inflation inertia is essentially a modern manifestation form of capitalism relative overproduction crisis.The government intervention with loose monetary policy as the main means by Western countries is the result of mutual compromise between financial capitalists and industrial capitalists with the aim of maintaining and consolidating the economic dominant position of the monopoly bourgeoisie at the cost of overdrawing national credit.China must choose a policy under the socialist market economy system,which is suitable for China's national conditions,aimed to promote the healthy and sustainable development of the financial industry.