现代资本主义发展轨迹与美国金融危机

全球化与金融化的角度

Translated title of the contribution: Evolvement of Modern Capitalist Economy and the U. S. Financial Crisis: From the Perspective of Globalization and Financialization

杨 慧玲

Research output: Contribution to journalArticle

Abstract

The capitalist economy is credit economy. Credit instruments-lending capital is the most basic form of fictitious capital, and the expansion of credit constitutes material premise for financial derivatives. Development of capitalism exacerbated the conflicts from relative surplus of production, which make the economy of modern capitalist country, represented by theUnited States, tend to alienation-the economic growth rely on excessive expansion of credit to create financial bubble. The economy alienation in turn caused capitalist credit alienation-the credit has deviated from the position of service for real economy, indulging in excessive financial speculation, misleading investment, all this increase imbalance between production and consumption, and finally promote the confrontation between commodity and currency into an absolute contradictions, therefore, crisis is an inevitable result. Economic globalization, that is global expansion of capital,in order to transfer the contradictions of relative surplus, gradually evolve into financialization, that is global expansion of capital credit, and it spreads capitalist crisis around the world.
Original languageChinese (Simplified)
Pages (from-to)144-154
Number of pages11
JournalJournal of Economics of Shanghai School
Volume7
Issue number4
Publication statusPublished - 2009
Externally publishedYes

Fingerprint

Globalization
Financial crisis
Financialization
Credit
Alienation
Surplus
Currency
Financial derivatives
Bubble
Imbalance
Capitalism
Economic globalization
Speculation
Commodities
Lending
Economic growth

Keywords

  • credit
  • fictitious capital
  • modern capitalism
  • alienation
  • financialization

Cite this

现代资本主义发展轨迹与美国金融危机 : 全球化与金融化的角度. / 杨慧玲.

In: Journal of Economics of Shanghai School, Vol. 7, No. 4, 2009, p. 144-154.

Research output: Contribution to journalArticle

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title = "现代资本主义发展轨迹与美国金融危机: 全球化与金融化的角度",
abstract = "商品流通中的买卖时空分离对社会资本再生产过程的制约,使资本主义经济蛹化为信用经济。信用工具——借贷资本是虚拟资本的最基本形态,信贷扩张构成金融衍生的物质前提。资本主义发展加剧了生产相对过剩的矛盾,这使以美国为代表的现代资本主义国家经济趋于异化——依赖信贷过度扩张制造金融泡沫推动经济增长。资本主义国家经济异化进而引起资本主义信用异化——信用背离为实体经济服务之本位,沉溺于过度金融投机,误导投资,加剧生产与消费的不均衡,把商品与货币之间的对立发展成绝对矛盾,因此,危机是必然结果。为转嫁相对过剩矛盾而展开的资本全球扩张,即经济全球化,逐渐演化为资本主义信用的全球扩张,即金融化,它们把资本主义危机引向全世界。",
keywords = "信用, 虚拟资本, 现代资本主义, 异化, 金融化, credit, fictitious capital, modern capitalism, alienation, financialization",
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KW - alienation

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