Anwar Shaikh and the classical theory of interest: a critical note
评论了谢赫著作中的古典利息理论，指出其仅在货币为生产商品且信贷外生于生产体系时成立，而在现代内生信贷经济中，债务和利息与生产利润率无关。
Abstract The Note examines the theory of interest put forward in Shaikh’s recent book Capitalism, Competition, Conflict, Crises which presents the classic Ricardian theory of interest, in which the rate of interest is determined by the industrial rate of profit, as the basis for the book’s analysis of banking and credit. The Note argues that the classic theory of Anwar Shaikh holds true only under special assumptions, namely when money is a produced commodity, and credit is external to the system of capitalist production. However, in the modern capitalist economy, credit is endogenous to the system of production and distribution. In this more general case, debt and interest have the function of redistributing income, but are unrelated to the rate of profit from production.