Neoliberalism in Crisis
Neoliberalism in Crisis
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危机中的新自由主义
DOI：
10.1057/9781137002471_5
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发表时间：
2012
期刊：
影响因子：
--
通讯作者：
Lewis P
中科院分区：
文献类型：
--
作者：
Lewis P
对最近金融危机的流行理论解释表明，由于廉价信贷、投机性投资和“非理性繁荣”的结合，金融业创造了泡沫，特别是资产价格，事实证明，基础现金流是不可能证明的。在这种情况下，次级借款人无力继续偿还债务，削弱了人们对建立在这些现金流基础上的金融资产价值的信心。这些解释的核心主张是，金融周期性地“超出”“真实的”或“生产性”经济的某些部分支持它的“基本”能力。
Popular theoretical explanations of the recent financial crisis suggest that finance, due to a combination of cheap credit, speculative investment and ‘irrational exuberance’, created a bubble in particular asset prices that proved impossible for underlying cash flows to justify. In this case, the inability of subprime borrowers to keep paying their debts undermined confidence in the value of financial assets constructed upon those cash flows. The central claim in such explanations is that finance periodically ‘overreaches’ the ‘fundamental’ capacity of some part of the ‘real’ or ‘productive’ economy to support it.