The Structure and the Dynamics of Capitalist Economy

本研究项目从马克思主义政治经济学的观点出发，发展了资本主义发展的基本理论。其目的是分析社会再生产系统结构与资本主义经济动态发展之间的关系。本研究项目的特色方法是使用斯拉法提出的物质投入产出系统图式作为发展理论。本研究明确了以下几点。(1)只要重复还款，信用货币的创造就可以维持。而偿还则是基于货币的回流规律，即货币会返还给那些把钱投入流通的人。如果固定资本的投资减少，货币从流通中抽离，这个规律就不成立。因此，信用货币的创造无法维持。(2)由于资本主义经济的利润率一般高于利息率，股票价格在繁荣时期容易无限上涨。(3)在萧条阶段，实际工资率下降的速度不如货币工资率下降的速度快，这是因为实物投入产出体系变化的速度没有货币工资率变化的速度快。因此，要走出经济萧条，有必要对物质投入产出体系进行重组。(4)由于激进的创新迅速增加了每个工人的生产资料的物理量，在一定的生产资料数量下，它们可以形成大规模的产业后备军。(5)资本主义发展的形式随着再生产制度的结构而变化。所以资本主义发展的基本理论不应该显示单一的发展过程，而应该显示一系列不同的可能性。正是这种理论对分析资本主义的发展是有用的。

This research project develops a basic theory of capitalist development from the standpoint of Marxian political economy. Its purpose is to analyze the relationship between the structure of social reproduction system and the dynamic development of capitalist economy. The characteristic method of this research project is to use the schema of physical input-output system shown by Sraffa as a theory of development. Following points are made clear by this study.(1) The creation of credit money can be maintained as long as repayment is repeated. And the repayment is based on the reflux law of money that money returns to those who advanced the money to the circulation. If investment of fixed capital decreases and money is drawn from the circulation, the law does not hold true. As a result, the creation of credit money can not be maintained.(2) Because the rate of profit is generally higher than the rate of interest in the capitalist economy, the prices of stocks are apt to rise limitlessly in the phase of prosperity.(3) In the phase of depression, the real wage rate does not fall as rapidly as the money wage rate does, because physical input-output system does not change so rapidly. So it is necessary to restructure the physical input-output system in order to climb out of the depression.(4) Because radical innovations rapidly increase the physical quantities of means of production per worker, they can form a large scale of industrial reserve armies under the given quantities of means of production.(5) The form of capitalist development changes according to the structure of reproduction system. So the basic theory of capitalist development should not show a single course of development, but it should show a set of various possibilities. It is such theory that is useful in analyzing the capitalist development.