ممنوعیت بهره به‌مثابه حکمت شارع در راستای جلوگیری از کنش متقابل سفته‌باز و بانک در ایجاد ادواری پدیده «ازجادررفتگی سنجه ارزش»

نوع مقاله : مقاله پژوهشی

نویسندگان

1 فارغ التحصیل دکتری رشته علوم اقتصادی دانشگاه تهران و مدیر گروه اقتصاد بین الملل مرکز پژوهش های مجلس شورای اسلامی

2 استاد دانشکده اقتصاد دانشگاه تهران

10.30497/ies.2023.243408.2113

چکیده

جوامع اقتصادی همواره متعاقب بحران‌های مالی و بانکی تکرارشونده، تعمیق نابرابری‌ها را تجربه کرده و خواهند کرد. سؤال مشخص پژوهش حاضر آن است که کدام عوامل باعث می‌شوند معیار محاسبه ارزش، در خلال بحران‌ها، نوبه‌نو دچار ازجادررفتگی شود و در ادامه، طی چه روندی، مجدداً سنجه ارزش، در محیط اقتصاد، استقرار جدید پیدا می‌کند. برای پاسخ به سؤال فوق، روش کتابخانه‌ای و اسنادی مورد استفاده قرار گرفته و برای تبیین مفهوم سنجه ارزش، به آراء علامه طباطبایی مراجعه شده است. نتیجه پژوهش آن است که خلق منعطف اعتبار توسط نهاد بانک، ازیک‌طرف و به‌خودارجاعی سفته‌بازی از طرف دیگر، به‌صورت توأمان منجر به بروز گاه‌به‌گاه بحران‌های پولی می‌شوند. متعاقب بروز هر بحران پولی، تنها می‌توان گفت که فهم اولیه و مشترک کنشگران از سنجه محو و نابود شده و در حقیقت، انقلابی در فهم کنشگران از سنجه رخ داده است به‌طوری‌که امکان نمایش میزان تغییر کلی در سنجه از طریق یک کمیت مشخص، قابل کشف و قابل محاسبه اساساً منتفی است. در این شرایط، سنجه که تا پیش‌ازاین، یک موجودیت عینی بوده اکنون به یک موجودیت ذهنی تبدیل می‌شود. متعاقب ازجا دررفتن سنجه و ناپدید شدن فهم مشترک کنشگران از آن، بلافاصله مکانیسم‌هایی خودتقویت‌گر به کار می‌افتند که نتیجه حتمی آنها عبارت‌اند از: 1. افزایش ذاتی نابرابری‌ها 2. تفوق روزافزون بخش مالی بر بخش حقیقی اقتصاد.

کلیدواژه‌ها

عنوان مقاله [English]

Prohibition of interest as the wisdom of the "SHAR'E" in order to prevent the interaction of the speculator and the bank in creating a periodic phenomenon of "dislocation of the measure of value"

نویسندگان [English]

  • mehdi razmahang 1
  • hasan sobhani 2

1 PhD graduate in Economics, University of Tehran and Director of the Department of International Economics, Research Center of the Islamic Consultative Assembly

2 Professor, Faculty of Economics, University of Tehran

چکیده [English]

Economic societies have always experienced and will continue to experience deepening inequalities in the wake of repeated financial and banking crises. The specific question of the present study is which factors cause the metric of value to be dislocated during crises, and then, in what process, the value metric is re-established in the economic environment. To answer the above question, the library and documentary method has been used and to explain the concept of value metric, Allamah Tabatabaee's views have been referred to. The result of the research is that the flexible creation of credit by the bank, on the one hand, and the self-referentiality of speculation, on the other hand, lead to the occasional occurrence of monetary crises. Following each monetary crisis, we can only say that the initial and common understanding of the actors of metric has disappeared and in fact, there has been a revolution in the actors' understanding of the metric, so that the possibility to show the overall change in the metric through a definite, detectable, and measurable quantity is essentially eliminated. Under these circumstances, the metric, which was previously an objective being, now becomes a subjective being. Following the dislocation of the metric and the disappearance of the common understanding of the actors, self-reinforcing mechanisms will immediately start working and the inevitable result of which are: 1. Intrinsic increase of inequalities 2. Increasing dominance of the financial sector over the real sector of the economy.

کلیدواژه‌ها [English]

  • Bank
  • speculator
  • value metric
  • money
  • point of reference
پیکتی، توماس (1398). سرمایه در سده بیست و یکم (ناصر زرافشان، مترجم). تهران: نگاه، تهران.
سوئدبرگ، ریچارد (1394). اصول جامعه‌شناسی اقتصادی  (سمیرا کاظم‌پوریان، مترجم). تهران: انتشارات دنیای اقتصادی.
طباطبایی، سیدمحمدحسین (1374). ت‍ف‍س‍ی‍ر ال‍م‍ی‍زان (سیدمحمدباقر موسوی همدانی، مترجم). (جلد 10)، جامعه مدرسین حوزه علمیه قم، دفتر انتشارات اسلامی.
Bell, S. (2001). The role of the state and the hierarchy of money. Cambridge Journal of Economics. (As reprinted in Concepts of Money: Interdisciplinary Perspectives from Economics, Sociology and Political Science, ed. G. Ingham, 496–510, Cheltenham: Edward Elgar, 2005).
Crotty, J. (2005). The neoliberal paradox: the impact of destructive product market competition and ‘modern’financial markets on nonfinancial corporation performance in the neoliberal era. Financialization and the world economy, 77-110.‏
Crotty, J. (2008). If financial market competition is intense, why are financial firm profits so high? Reflections on the current ‘golden age’of finance. Competition & Change, 12(2), 167-183.
Davidson, P. (2006). Exogenous versus endogenous money: the conceptual foundations. Complexity, Endogenous Money and Macroeconomic Theory, Cheltenham and Northampton: Edward Elgar, 141-149. ‏
Duménil, G., & Lévy, D. (2001). Costs and benefits of neoliberalism. A class analysis. Review of International Political Economy, 8(4), 578-607.
Duménil, G., & Lévy, D. (2004). The real and financial components of profitability (United States, 1952–2000). Review of Radical Political Economics, 36(1), 82-110.‏
Dünhaupt, P. (2012). Financialization and the rentier income share–evidence from the USA and Germany. International Review of Applied Economics, 26(4), 465-487.‏
Dünhaupt, P. (2014). An empirical assessment of the contribution of financialization and corporate governance to the rise in income inequality (No. 41/2014). Working Paper, Institute for International Political Economy Berlin.‏
Epstein, G., & Power, D. (2002). The Return of Finance and Finance's Returns: Recent Trends in Rentier Incomes in OECD Countries, 1960-2000. University of Massachusetts Political Economy Research Instiute Research Brief, 2.‏
Ingham, G. (2004). The nature of money. Polity Press.
Ingham, Geoffrey (2020), Money (What is Political Economy?), Polity, Cambridge, England.
Keynes, J. M. (1930). Treatise on money: Pure theory of money Vol. I. ‏
Keynes, J. M. (2018 {1936}). The General Theory of Employment, Interest, and Money. Palgrave Macmillan.
Knapp, G. F. (1924). The state theory of money. McMaster University Archive for the History of Economic Thought. ‏
Laeven, M. L., & Valencia, M. F. (2018). Systemic banking crises revisited. International Monetary Fund.
Minsky, H. (2008 [1986]). Stabilizing an Unstable Economy. New York: MacGraw-Hill.
Orléan, A. (2014). The empire of value: A new foundation for economics. MIT Press.
Orhangazi, Ö. (2008). Financialisation and capital accumulation in the non-financial corporate sector: A theoretical and empirical investigation on the US economy: 1973–2003
Palley, T. I. (2013). Financialization: What it is and Why it Matters. In Financialization (pp. 17-40). Palgrave Macmillan, London.‏
Palma, J. G. (2009). The revenge of the market on the rentiers. Why neo-liberal reports of the end of history turned out to be premature. Cambridge Journal of Economics, 33(4), 829-869.‏
Piketty, Thomas (2018). Capital in the 21st century, translated by Nasser Zarafshan, Negah Publishing House, Tehran, Iran.
Reinhart, C. M., & Rogoff, K. S. (2009). This time is different: Eight centuries of financial folly. Princeton university press.
Searle, J. R. (2005). What is an institution? Journal of Institutional Economics 1: 1–22.‏
Schelling, T. C. (2015).  The strategy of conflict. Pickle Partners Publishing, E-publication.
Schumpeter, J. A. (2006). History of economic analysis. Routledge.
Simme1, G. 1978 [1907]: The Philosophy of Money. London: Routledge
Stiglitz, J. E. (2012). The price of inequality: How today's divided society endangers our future. WW Norton & Company.‏
Stockhammer, E. (2004). Financialisation and the slowdown of accumulation. Cambridge Journal of Economics, 28(5), 719-741.‏
Stockhammer, E. (2005). Shareholder value orientation and the investment-profit puzzle. Journal of Post Keynesian Economics, 28(2), 193-215.‏
Stockhammer, E. (2012). Financialization, income distribution and the crisis. Investigación económica, 39-70.‏
Stockhammer, E. (2012). Rising inequality as a root cause of the present crisis. Political Economy Research Institute, (282), 1-31.‏
Swedberg, Richard (2014), Principles of Economic Sociology, translated by Samira Kazem Pourian, donyaye eghtesad Publications, Tehran, Iran.
Tabatabai, Seyyed Mohammad Hossein, (1374) translation of Tafsir al-Mizan, translated by Seyyed Mohammad Baqer Mousavi Hamdani, volume 8, Qom Seminary Teachers Association, Islamic Publications Office, Qom
Tobin, J. (1984). On the efficiency of the financial-system.  Lloyds Bank Annual Review, (153), 1-15.
Werner, R. A. (2012). Towards a new research programme on ‘banking and the economy’—Implications of the quantity theory of credit for the prevention and resolution of banking and debt crises. International Review of Financial Analysis, 25, 1-17.
Wray, L. R. (1990). Money and credit in capitalist economies. Books.
Wray, L. Randall (2002), “Modern money”, in J. Smithin (ed.) What is Money? London New York: Routledge, 42-66.