国际小额信贷发展的经验及启示

小额信贷是一种有效的金融扶贫方式。通过对福利主义小额信贷模式和制度主义小额信贷模式的比较,揭示国际小额信贷发展的制度主义倾向及其成功经验。分析我国小额信贷的实践并对其进行总体评价,最后指出国际成功小额信贷对我国的启示。     

国际金融危机的启示和反思

美国次贷危机引发的全球性金融危机,根源在于以华尔街为首的美欧金融体系违反了金融业3个基本原则：植根于工商产业,严格管控风险,杠杆率适度。我国金融体系要防止5个趋势：政策过度叠加,增加企业融资成本,“老大”意识蔓延,收入过高,服务意识不强。规避危机要力求4个平衡：贷款余额与GDP大体1∶1,证券市场市值与GDP大体1∶1,房地产总市值与GDP大体1∶1,国家主权债务加上社会保障支出与GDP大体1∶1。化解金融危机,不能依靠金融业自我循环,而要靠科技进步和发展实体经济。     

Sen is not a capability theorist†

This paper aims to clarify the status of capability in Sen’s idea of justice. Sen’s name is so widely associated with the concept of capability that commentators often assume that his contribution to the study of justice amounts to a capability theory, albeit underdeveloped. We argue that such a reading is misleading. Taking Sen’s reticence about operationalization seriously, we show that his contribution is inconsistent with a capability theory. Instead, we defend the idea that the capability approach plays a heuristic role: capability is a step in his argument against alternative materials, but is not meant as a definitive end. Sen defends a critical perspective primarily to encourage public reasoning and respect for agency as regards the definition of what should count in the evaluation of social states.     

A return to Bentham's felicific calculus: From moral welfarism to technical non-welfarism

Abstract

This paper is a study of Bentham's felicific calculus. Challenging a view that contrasts ‘cardinal’ to ‘ordinal’ calculus, we show that these two forms of calculus constitute instead different phases of a single approach. Bentham sometimes has to rely upon proxy variables because of operational constraints, and consequently upon factors other than utility. As a utilitarian, Bentham is de facto welfarist from an ethical point of view. Surprisingly however, this study shows that Bentham resorts to non-welfare information in the actual application of his calculus. His approach reconciles non-welfarism from the technical standpoint with welfarism as a fundamental moral principle.     

基于福利主义的社会养老模式缺陷分析

我国人口老龄化的迅速发展给现行社会养老模式的可持续发展提出了严峻挑战。通过福利主义理论的分析,发现社会养老模式存在严重的理论缺陷表现为不能保障养老基金的保值增值和难以改进参保人的福利水平。通过区别对待不同养老账户的基金,提出了弥补社会养老模式的对策,以促进社会福利水平的提高。     

Harming Irreparably: On Neoliberalism,Kaldor-Hicks,and the Paretian Guarantee

Abstract

The global neoliberal project, which entailed inter alia financial liberalization that accelerated financialization of the world economy, was advocated by leading Austrian, Chicago School neoclassical, and New Keynesian economists, despite awareness that the project would harm many members of society even as it benefitted others. To the extent that they were efficacious in their advocacy, economists contributed to the imposition of serious harm. Often the harm befell the most vulnerable members of society. At least some of the harm was avoidable. This paper examines critically the Kaldor-Hicks compensation test, a primary criterion used in defense of the neoliberal project. The paper finds that the best existing defense of Kaldor-Hicks is Paretian rather than Benthamian in nature: it focuses on the long-run rather than on each individual policy innovation, and claims that all agents benefit by a series of Kaldor-Hicks consistent innovations even if some are harmed in each individual instance. The paper finds that the Paretian case is deficient on grounds other than those commonly invoked against Kaldor-Hicks. The critique focuses on the neoclassical consequentialist welfarism that grounds the Paretian case, and the related presumption that all harms are reparable and, indeed, compensable.