保守的干涉主义

伯克利——

目前,全世界都在与萧条作斗争。现阶段,不妨稍作停歇,审视一下各国央行、财政部和政府预算办公室所实行的政策有多么保守,这对我们是大有裨益的。基本上,现行的所有政策——增加支出、减税、银行重组、购买风险资产、公开市场操作,以及其他货币供给扩张政策——都是在近200年来的政策路径上亦步亦趋。这些做法可以追溯到工业革命早期,也就是说,从商业周期出现的那一刻起就存在了。

最早的市场干涉发生在1825年,当时,恐慌的投资者纷纷要求将钱投向安全的现金资产,而不是充满风险的企业。时任乔治四世第一财政大臣的利物浦勋爵罗伯特·詹金森向英格兰银行行长巴特勒求助,请求其采取行动防止金融资产价格崩溃,理由是“我们对市场经济坚信不疑,但在市场所决定的价格导致英国发生大面积失业时除外。”

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