金融資本主義

金融資本主義英文finance capitalism / financial capitalism)係一種關係,生產過程(即係做嘢)從屬於金融體系入便嘅貨幣利潤積累過程(即係搵錢)嘅。[6]所以,金融資本主義係資本主義嘅一種形式,初初喺經濟裏便做儲蓄同投資之間嘅中介嘅,而家變成咗主導功能,廣泛噉影響埋政治進程同社會發展。[7]由20世紀晚期開始,金融化英文financialization嘅過程令到唔論係唔係新自由主義嘅形式,[8]金融資本主義都變成咗全球經濟嘅主導力量。[9]

現代金融資本主義嘅400年演變
阿姆斯特丹證券交易所嘅庭院係1600年代荷蘭資本主義嘅發源地。喺17世紀嘅荷蘭共同國,世界上第一個正式上市上市公司荷蘭東印度公司)同第一個正式嘅證券交易所(阿姆斯特丹證券交易所)嘅誕生,都開啟咗金融資本主義嘅一個新紀元。[1][2][3][4][5]
21世紀初,紐約證券交易所(NYSE)嘅交易大廳係美國金融資本主義最重要嘅標誌

特徵

金融資本主義嘅特點係,佔據主導地位嘅係追求透過買賣或投資貨幣同金融產品(譬如債券股票期貨同其他衍生工具)嚟搵錢,另外就係貸錢收利息;馬克思主義分析家(佢哋最先提出「金融資本主義」呢個講法)認為噉樣係剝削勞動者嚟畀收入畀啲非勞動者。[10]而資本主義經濟觀念嘅學術擁躉,例如歐根·博姆-巴維克,就認為呢啲利潤係迂回性英文Roundaboutness生產嘅一部分,噉做先發展到經濟,兼且對沖啲避免唔到嘅風險。[11]

喺金融資本主義中,無論銀行定係投資公司,啲金融中介機構都成為咗大家關注嘅焦點。存款銀行吸引人去存錢,然之後放貸,而投資銀行就喺銀行之間嘅市場度擸錢並再貸款過畀投資用途;而相比之下,投資公司就代表住其他公司,將佢哋啲股票或者證券賣畀投資者作投資用途。[12]

社會影響

「金融資本主義」呢個詞嘅含義唔單只係「金融中介喺現代資本主義經濟裏便好重要」噉解。佢另外一方面係「有錢大晒」,有米嘅人對政治進程同經濟政策目標會有好大影響。[13]

湯瑪斯·帕利英文Thomas Palley認為,21世紀金融資本嘅主導地位導致喺全球經濟當中,投機行為得到嘅偏好,要多過投資畀企業嘅成長;而前者好似賭錢噉,即所謂嘅「賭場資本主義」(Casino Capitalism)。[14]

睇埋

參考

  1. Neal, Larry: The Rise of Financial Capitalism: International Capital Markets in the Age of Reason (Studies in Monetary and Financial History). (Cambridge University Press, 1993, ISBN 9780521457385)
  2. Goetzmann, William N.; Rouwenhorst, K. Geert: The Origins of Value: The Financial Innovations that Created Modern Capital Markets. (Oxford University Press, 2005, ISBN 978-0195175714))
  3. Rothbard, Murray: Making Economic Sense, 2nd edition. (Ludwig von Mises Institute, 2006, ISBN 9781610165907), p. 426. In own words of the Austrian School economist Ludwig von Mises, "A stock market is crucial to the existence of capitalism and private property. For it means that there is a functioning market in the exchange of private titles to the means of production. There can be no genuine private ownership of capital without a stock market: there can be no true socialism if such a market is allowed to exist."
  4. Dore, Ronald: Stock Market Capitalism, Welfare Capitalism: Japan and Germany versus the Anglo-Saxons. (Oxford University Press, 2000, pp. 280, ISBN 978-0199240616)
  5. Preda, Alex: Framing Finance: The Boundaries of Markets and Modern Capitalism. (University of Chicago Press, 2009, pp. 328, ISBN 978-0-226-67932-7)
  6. "Capitalism" by John Scott and Gordon Marshall in A Dictionary of Sociology Oxford University Press 2005. Oxford Reference Online. Oxford University Press
  7. "Simon Johnson, "The Quiet Coup", May 2009, The Atlantic". 原先內容歸檔喺2010-01-04. 喺2019-11-12搵到.
  8. Charles R. Morris, The Trillion Dollar Meltdown (2008) p. 156
  9. R. Munck, Globalization and Labour (2011) p. 77–8
  10. "The Contradiction of Capitalism in the Search for Democracy" 互聯網檔案館歸檔,歸檔日期2019年11月17號,., Latin American Perspectives, Vol. 24, No. 3, Ecuador, Part 1: Politics and Rural Issues (May, 1997), pp. 116–122
  11. F. Boldizzoni, Means and Ends: The Idea of Capital in the West 1500–1970, Palgrave Macmillan 2008, pp. 128–32
  12. J. Bradford De Long & Carlos D. Ramirez, "Understanding America’s Hesitant Steps Toward Financial Capitalism", 1996, UC Berkeley 互聯網檔案館歸檔,歸檔日期2012-03-13.
  13. "Dimitri B. Papadimitriou & L. Randall Wray, "Minsky's Analysis of Financial Capitalism, 1999" (PDF). 原先內容歸檔 (PDF)喺2017-08-09. 喺2019-11-12搵到.
  14. Thomas Palley, From Financial Crisis to Stagnation (2012) p. 218

延伸閱讀

  • Rudolf Hilferding, Finance Capital (1981[1910])
  • Giovanni Arrighi, The Long Twentieth Century: Money, Power, and the Origins of our Times (1994)
  • John Kenneth Galbraith, The New Industrial State (1974)