论虚拟资本与实体资本的积累——兼谈中国虚拟资本积累应注意的问题

只有用于可以直接生产增加人类使用价值、效用和福利的产品或服务的生产要素资本,才应划入实体资本,其他用于为实体资本积累服务的货币和各种金融工具等都应划入虚拟资本。虽然虚拟资本积累对于实体资本积累的效率有着巨大的影响,但是归根结底,它是不能脱离实体资本积累而单独发展的。它脱离实体资本积累而发展,还会给经济带来金融危机等很多不良后果。所以,中国的经济发展必须以实体资本积累为基础,在利用虚拟资本积累服务于发展经济的过程中,建立有效的金融风险预警机制,对资本市场开放过程中的风险和泡沫进行严密监控。

On the Accumulation of Fictitious Capital and Entity Capital--Concurrently Talking about the Issues Calling for Attentions in Fictitious Capital Accumulation in China

Only the capital in the form of production factors which can directly produce use-vale,utility and welfare should be included to the range of entity capital and all other capitals in the form of currency and various financial tools which help the accumulation of entity capital should be included in the range of fictitious capital.Although fictitious capital accumulation can engender great influences on the efficiency of entity capital accumulation,in the end it can not develop separately without entity capital accumulation.When developing separately without entity capital accumulation,it may even bring many calamities,such as financial crises.Therefore,China's economic development shall be based on entity capital accumulation. When using fictitious capital accumulation to help the economic development,we have to establish efficacious beforehand alarming mechanism and supervise closely the risks and bubbles in the opening process of capital market.