美国金融创新基础理论残缺与时点价值科学发现——微观经济空间理论问世

根据近代金融实际我们提出微观经济空间理论。在通货膨胀条件下现金流货币有时间价值(利息),也有时点价值(泡沫),时点价值科学发现是微观经济空间理论的核心。美国金融创新基础理论残缺是通货膨胀货币的时点价值缺少,和利率空间结构的结构差值的缺失。美国金融创新基础理论残缺带来了房屋按揭次级贷款的金融危机,和房屋抵押贷款证券化的金融结构混乱,它引发了金融海啸,最终爆发了经济危机。

American financial innovation basic theory deformity and time value's scientific discovery ——forming of micro economy space theory

The microeconomic space theory was introduced to the world in the backdrop of modern finance. Cash flow currency has not only time value （interest） but also time-point value （bubble） when inflation is considered. Time-point value is the core of microeconomic space theory. The financial innovation in the US is defective primarily because the time-point value and the structural difference of interest rate space structure have not been recognized and considered. Consequently, the defect in US financial innovation has led to the subprime crisis,the turmoil of financial structure of morigage securitization,the eneuing financil tsunami,and eventually the economic crisis.