对资金时间价值的再认识

Re - Understand Capital Time Value

资本的增值和资金的时间价值是两个既有联系又有区别的概念。资本增值是所有生产要素共同作用的结果,而资金的时间价值是资本这个单一生产要素被占用一定时间所应该得到的价值补偿。所以,资金的时间价值只是全部资本增值中的一部分。认为资本增值全部是劳动带来的或全部是资本带来的两种观点都是片面的。

Value-increasing and time value of capital are closely connected and quite different two concepts. The former is the result of joint function of all prcxluctive factors, while the latter is value compensation which the capital, as only one productive factor, should get for being occupied for a certain time. Therefore, the latter is only a part of all the capital increment. The belief of capital increment being brought all by labor or capital is one-sided.