货币演进的内在机理及其贬值规律

文章从货币演进的视角出发，梳理了货币贬值的内在规律；在金属货币阶段，贵金属开采业以及海外贵金属流入量影响铸币购买力的变动，政府介入之后，币值往往受到政府法定购买力和货币相对商品数量的影响；信用货币时代，由于货币具有乘数效应，私人银行或政府若过度发行货币会导致货币贬值幅度较大；货币国际化之后，为了获得国际铸币税收益，政府往往采用通货膨胀政策不断对外输出货币，这种制度最终要走向衰亡。

The Mechanism of the Currency Evolution and the Depreciation Trend

From the perspective of the evolution of the currency,this article combed the inherent law of currency depreciation;in period of the metallic currency,precious metals mining industry and the inflow of overseas precious metals influenced the purchasing power of the coinage,After government intervention,currency was affected by the purchasing power of government statutory and the number of commodities;in credit money era,due to multiplier effect,if the private banks or the government over-issued currency,the ...