马克思主义与后凯恩斯主义经济增长理论比较研究*——从经济增长基本方程说起

本文从设定经济增长基本方程出发，探讨了马克思主义与后凯恩斯主义经济学构建闭合增长模型的不同思路，进而对两种增长理论进行详细的比较分析。研究发现，马克思主义与后凯恩斯主义增长理论都对收入分配给予了特别的关注，并且都坚持阶级、制度、非均衡的分析方法；然而，两者在所依据的理论基础、经济增长的最终决定因素、资本主义经济增长是否存在极限以及增长过程中的市场结构等问题上仍存在明显分歧。与后凯恩斯主义增长理论相比，马克思主义增长理论在理论基础、研究视阈及内在逻辑一致性等方面都更具优势。全面比较马克思主义与后凯恩斯主义经济增长理论对于构建中国特色发展经济学具有重要的借鉴意义。     

Engagement with the Mainstream in the Future of Post Keynesian Economics

This paper examines the reasons for the difficulties Post Keynesian economics has had in supplanting mainstream neoclassical theory and for its resulting marginalization. Three explanations are given: intellectual, sociological and political, where the latter two are largely responsible for the current relationship of Post Keynesian economics to the mainstream. The paper also reviews various strategies for improving the future of Post Keynesian economics, including a focus on methodological issues by maintaining an ‘open systems’ approach; a strategy of ‘embattled survival’; the development of a positive alternative to mainstream economics; a strategy of ‘constructive engagement’ with the mainstream; and a dialogue with policymakers. While the global financial crisis has increased the potential for constructive engagement with the mainstream, significant barriers remain to the effectiveness of this approach. The crisis has, however, enhanced the possibility of engaging directly with policymakers and gaining a greater role in management education.     

Post Keynesianism,Heterodoxy and Mainstream Economics

After briefly presenting the concepts of orthodox, mainstream and heterodox economics, and applying them to the contemporary period, this article discusses the Post Keynesian school and its relation to contemporary orthodox and mainstream economics. While opposed to the neoclassical orthodoxy, the Post Keynesian school has some positive unifying ideas, although some internal tensions remain. There are also some overlaps between Post Keynesianism and other approaches, and a careful combination of contributions from different approaches and different disciplines is not only possible, but also necessary. Post Keynesianism is located outside current mainstream economics, although this argument partly depends on a more precise specification of the concept of uncertainty. The non-mainstream character of Post Keynesian economics has at least two types of important implications. The first involves the approach's ability to influence the economy and the danger of ‘the scholastic fallacy’; the second refers to a reproductive difficulty inside academia.     

Keynes against Kalecki on economic method

In the past twenty years, there has been considerable debate on the “coherence” of post Keynesian economics, in view of post Keynesian economists’ ambitions to develop a paradigmatic alternative to neoclassical economics. Given the growing importance of methodological aspects in this discussion, this article addresses the differences of approach to economic theory between the fathers of the two most important strands in post Keynesian economics. We thus focus on Keynes’s criticism of Kalecki’s theory of the business cycle and the tensions between Keynes’s logical approach and Kaleki’s formal modeling. We show that in criticizing Kalecki’s theory, Keynes made use of the same methodological criticism (based on detecting logical fallacies in reasoning) he had employed to attack both the classical theory and contemporary “pseudo-mathematical” models. After illustrating these fundamental differences between Keynes and Kalecki about the proper way of doing economics, we draw some conclusions on the possible future evolution of post Keynesian economics.     

凯恩斯经济学方法的科学哲学评价

主流经济学在凯恩斯经济学形成之后,一直存在着争论,如何理解凯恩斯经济学理论的真谛,是当前研究现代经济学一个值得关注的问题,而在理解凯恩斯经济学理论中有关他的研究方法的哲学思想内涵是方法论的根本,也是构成其经济学理论的重要组成部分。本文以凯恩斯的《通论》为基础,分析凯恩斯经济学方法的哲学基础,并在方法论意义上进行了评价。分析结果表明,对于凯恩斯经济学的理解应当以全面发展的眼光看待,宏观经济学只是其理论起源的一个方面,追求经济思维的合理性和适应人类经济活动的需要是凯恩斯经济学方法论的根本。     

The breakdown of the IS–LM synthesis: implications for post-Keynesian economic theory

The monetarist and the new classical economics attack routed the IS–LM version of Keynesian theory and the large scale econometric models from the centre of macroeconomic research. However monetarism and the new classical economics were more successful as a critique of the IS–LM orthodoxy than as a basis for fruitful research and policy analysis.

Post-Keynesian economists also attack the IS–LM orthodoxy, mainly because it misspecified ‘… the economic society in which we actually live’. Post-Keynesians that emphasized financial and labour markets argued that properties of the real world economy made instability normal results ofmarket interactions.

The vacuum in main line theory that developed as the shortcomings of monetarism became evident led to a revival of interest in basic Keynesian propositions. This has spawned what is now labeled a new Keynesian economics. New Keynesian economists conform to the modeling standards set by the new classical rational expectations school but claim to get Keynesian results. To a degree these results are compatible with propositions of post-Keynesian economics.

It is suggested that a convergence between the new and the post-Keynesian economics can be expected, and the result is likely to be fruitful.     

Money Creation in the Eurozone: An Empirical Assessment of the Endogenous and the Exogenous Money Theories

ABSTRACT

The aim of this paper is to strengthen our understanding of the money creation process in the Eurozone for 1999–2016 period, through an empirical assessment of two main monetary theories, namely the (Post Keynesian) endogenous money theory and the (Monetarist) exogenous money theory. By applying a VAR and VECM methodology, we analyse the causal relationship among monetary reserves (or monetary base), bank deposits and bank loans. Our empirical analysis supports several propositions of the Post Keynesian endogenous money theory since (i) bank loans determine bank deposits, and (ii) bank deposits in turn determine monetary reserves.     

Cambridge's Contribution to Endogenous Money: Robinson and Kahn on credit and money

It is often claimed by American Post Keynesians that the theories of endogenous money originated in the mid-1950s as a result of articles published by Nicholas Kaldor and Hyman Minsky. This paper offers another possibility. It argues that, in the mid-1950s, both Joan Robinson and Richard Kahn offered insights into the workings of a credit economy that have been largely ignored by Post Keynesians and that are consistent with Post Keynesian monetary theory.     

Ecological macroeconomics: An application to climate change

Ecological economics has not paid sufficient attention to the macroeconomic level both in terms of theory and modeling. Yet, key topics debated in the field of ecological economics such as sustainable consumption, reduction in working time, the degrowth debate, the energy–exergy link, and the rebound effect require a holistic and macro perspective. While this deficiency has been identified before and Keynesian economics has been generally suggested as a potent vehicle to establish economic systemic thinking, very little concrete theorizing and practical suggestions have been put forward. We give further credence to this suggestion and demonstrate the value of tackling key concerns of ecological economics within a Keynesian growth framework. Contextualized by an application to climate change we suggest that policy relevant recommendations need to be based on a consistent view of the macroeconomy. We end with laying out key building blocks for a Keynesian model framework for an ecological macroeconomics.     

试论凯恩斯经济学研究方法的新取向

随着主流凯恩斯主义经济学的流行，原创性的凯恩斯经济学实际上已经“夭折”了，它的革命思想并没有得到真正的阐发与传播。从范式角度比较和分析原创性凯恩斯经济学和三个凯恩斯经济学流派之间的本质关系后发现，后凯恩斯经济学对原创性凯恩斯经济学的研究提供了重要启示；但是后凯恩斯经济学的理论局限性说明，必须探索一种新的研究方法，即一种制度的演化的经济学范式，从而推动凯恩斯经济学的进一步发展。     

回到凯恩斯还是回到熊彼特？——基于主流宏观经济学发展历程的理论反思

大萧条爆发后,嘬终占据主流地位的是系统提出摆脱大萧条方案的凯恩斯主义经济学。20世纪70年代以后,凯恩斯主义因无法解释“滞胀”现象而日渐式微。20世纪80年代以来,新古典主义和新凯恩斯主义共同占据主流地位,它们都要对2008年全球金融危机的爆发负责。危机爆发之后,“回到凯恩斯”的声音日渐高涨。但是凯恩斯主义宏观政策只能防止经济深度下滑,并不能带来经济长期繁荣,也不能帮助人们理解市场经济运行的本质特征。在后危机时代,我们需要“回到熊彼特”,以熊彼特的创新理论为基本框架来理解经济周期和金融危机,从而找到走出危机的治本之道。     

凯恩斯革命中的创新与继承

凯恩斯革命是从理论、政策、方法三个层面展开的。货币非中性论、货币供给外生论、对萨伊定理的彻底否定构成凯恩斯革命的理论基础;财政政策和货币政策是凯恩斯革命赖以实现的政策工具;对经济学研究对象的纠偏、破除传统的两分法和首创货币经济学是凯恩斯革命赖以完成的方法论。与此同时,《通论》内在逻辑上的不一致性,与经典学派崇尚经济自由传统的趋同,决定了凯恩斯革命中的继承。由于经济运行的常态是非充分就业均衡,《通论》必然具有永恒价值。     

国际失业属性理论回溯

失业属性是失业理论发展的重要观察视角.本文基于对失业属性的认识.从凯恩斯对劳动供求数量失衡的观察到"后凯恩斯主义"对劳动供求结构失衡的认识和人力资本理论对劳动供求质量失衡的认识,以及发展经济学对发展中国家工业化过程中劳动数量供给特殊性的观察,正是在人们对失业属性的认识逐步深化过程中,失业理论得到了不断发展.     

Monopoly Power and Stagflation

Post Keynesian economists have followed Joan Robinson's criticism of general equilibrium theory as abolishing history by allowing all contracts to be executed today for all future contingencies. This was the justification for the support of financial innovation to provide for the completeness of futures markets. The recent crisis has shown that force of history. Instead, many evolutionary and Keynesian economists have suggested the approach of cumulative causation as an approach that includes history and eschews equilibrium. This approach may provide a way to take history seriously in economic analysis.     

新凯恩斯主义粘性信息理论研究评述

为了说明价格粘性与工资粘性产生的微观基础,新凯恩斯主义者近年来提出了粘性信息模型,认为关于宏观经济运行的各种信息在经济主体之间的传播是缓慢的,其原因在于获取信息和处理信息是需要花费成本的,最优化也是需要成本的,虽然价格总是变动的,但企业的价格决策并不是总是以当前最新的信息为基础,这就产生了理性的疏忽。新凯恩斯主义者提出了粘性信息的菲利普斯曲线,认为当前通货膨胀率不仅仅取决于当前产出,还依赖于过去对当前通货膨胀率以及产出缺口变动率的预期。本文认为粘性信息理论是凯恩斯主义理论的一次重大飞跃,对微观经济主体的假设更加系统、更接近现实,克服了完全理性假说非现实性的缺点,对经济活动的解释更具有可信度,是当代宏观经济学的重要进展。     

Socialism after Hayek: A Post Keynesian Contribution to Burczak's Theory of Social Justice

The paper presents a brief overview of the basic premise of the Burczak's Socialism after Hayek, and shows that Burczak's “applied epistemological postmodernism” presents a unique unifying ground for heterodox economics, breaking down traditional barriers between right and left. This new approach allows us to revisit the Marx-Keynes-Hayek debates in a more constructive way for a unified theory of social justice. However, we argue that Burczak's system does not automatically guarantee full employment, so it cannot be considered an ideal theory of social justice. A Post Keynesian contribution is presented in the form of the Employer of Last Resort (ELR) program which we argue is compatible and complementary to Burczak's theory of social justice. Finally, we argue that an adequate system design of the magnitude proposed here must be infomed by the principles of institutional adjustment as outlined by J. Fagg Foster.     

The economics of ageing and the political economy of old age

Economic discussion of ageing has been largely neoclassical in approach. Ageing has become a specialism within population economics, which is itself a specialism within the neoclassical mainstream. An alternative view has come from authors in sociology and social policy, who have produced their own ‘political economy of old age’. In contrast with neoclassical individualism, sociological depictions of ageing have stressed the social construction of old age and the structured dependency of the elderly. Non-neoclassical economists have had little to say about ageing, despite some relevant work in the early days of Keynesianism. This paper argues that a combination of structural ideas from sociology and disequilibrium ideas from Keynesian and non-neoclassical economics can provide a suitable framework for the economics of ageing.     

凯恩斯主义的理论缺陷及其新的发展

20世纪最具影响力的凯恩斯经济学理论很长时间内一直是西方国家制定经济政策的理论依据,但上世纪70年代以后,由于西方国家普遍出现经济滞胀,凯恩斯主义陷入困境,走向衰落。论述了凯恩斯主义对传统经济学的重大突破及其贡献,指出了凯恩斯主义自身的理论缺陷,阐述了新凯恩斯主义的理论前提及其特征,并分析了新凯恩斯主义经济政策的主要特点。     

后凯恩斯主义经济学的货币非中性理论

后凯恩斯主义经济学的突出贡献是将凯恩斯关于不确定性和货币非中性思想发展为一个完整的关于货币非中性的理论框架,它强调无论是长期还是短期,货币都是影响真实部门的一个重要因素。后凯恩斯主义的货币理论在凯恩斯的灵活偏好理论中加入融资性需求,这样就必然导致存量和流量的矛盾,从而造成利息率的不确定性和波动性;从不同角度分析了货币的创造过程,提出了内生货币供给理论。这一理论完全是与主流经济学所信奉的货币数量论对立的,从而拒绝资本主义经济自然趋于长期充分就业均衡的概念。     

To Save or to Consume: Linking Growth Theory with the Keynesian Model

In the neoclassical growth theory, higher saving rate gives rise to higher output per capita. However, in the Keynesian model, higher saving rate causes lower consumption, which may lead to a recession. Students may ask, "Should we save or should we consume?" In most of the macroeconomics textbooks, economic growth and Keynesian economics are in separate, sometimes unsequential, chapters. The connection between the short run and the long run is not apparent. The author builds a bridge between the neoclassical growth theory and the Keynesian model. He links the Solow diagram and the IS-LM curves and depicts the short-run to long-run transition of the economy after changes in saving and other macroeconomic policies.