Why Crisis Continue?——The Endogenous Reason of Financial Crisis and Evolution to the Debt Crisis and the Enlightenment

当前欧债危机越演越烈,需要重新思考金融危机爆发并且演化为主权债务危机的内生性根源.此次金融危机中,资本主义社会的基本矛盾是危机发生的制度性根源.这一矛盾外化为“相对过剩”.经济机制层面,新自由主义影响下的自由市场经济体制放大了市场经济固有的缺陷,为危机的爆发积累了机制性原因.微观市场层面,缺乏金融监管、不当的房地产和货币政策则是诱发危机的直接原因.高赤字和高负债的背景下,一些国内经济和社会矛盾突出的国家发生主权债务危机是金融危机深化的必然结果.处理好自由市场经济和规制市场经济、金融创新和金融监管、实体经济和虚拟经济的关系以及地方债务问题是此次金融和债务危机给我国的最大启示.

Why Crisis Continue?——The Endogenous Reason of Financial Crisis and Evolution to the Debt Crisis and the Enlightenment

The European debt crisis is getting worse and worse nowadays.We need to rethink of the endogenous reason of the financial crisis and evolution to the sovereign debt crisis.The institutional reason of the financial crisis is the capitalist society’s basic contradiction.This contradiction is the "relative surplus".For the economic mechanism level,under the influence of the free market economy system,new liberalism magnifies the inherent defect of the market economy.For the microscopic market level,the lack of financial supervision,inappropriate real estate and monetary policy is the direct cause of the crisis.Under the high deficit and high debt background,some country,which had economic and social contradiction,has a debt crisis is the inevitable result of deepening financial crisis.Deal with the relationship between the free market regulation and market economy,financial innovation and financial supervision,entity economy and virtual economy and the debt problem is the biggest inspiration for us from the crisis.