Macroeconomics マクロ経済学

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1 Macroeconomics マクロ経済学
Chap.2 Market Economy and Money 第2章　市場経済と貨幣

2 １． Self-Sufficient Economy 自給自足経済
Use of tools = Round-about production using primitive capital → Economic dividing point that separates human beings from animals 4~2 million years ago → Australopithecus etc.; used primitive gravel stone A million years ago → Beijing old-man (Sinantrops Pekinensis) and Heidelberg old-man (Heidelbergensis) used fire, language, and stoneware 40 thousand years ago → Current human beings such as Cro-Magnon people Used archer and bone angler 道具（tool）の使用 ＝原始的な資本（capital )を用いた迂回生産（round-about production） →人類を動物と分かつ経済的分水嶺 400万年前→アウストラロピテクス等……原始的な礫石器の使用 100万年前→北京原人やハイデルベルク人……火や言語の使用、打製石器 4万年前→クロマニヨン人等の現生人類……弓矢や骨角器

3 １B．Self-Sufficient Economy 自給自足経済
Self-sufficiency (autarchy) people obtained by themselves whatever they needed for their lives Major industries = collection, hunting, fishing Living unit = a group consisting of a small group of families (Hold, horde), community group life Work type = single work or collaborative work (division of labor is underdeveloped) Neolithic era agriculture and livestock farming using polished stoneware and earthenware Self-sufficiency also dominates Division of labor begins to develop Ancient times, medieval times, modern times ... Self-sufficiency gradually shrinks, division of labor = exchange economy gradually develops 自給自足（アウタルキー、autarkie）……自分達の生活に必要なものを自身で獲得 主な産業＝採集、狩猟、漁撈 生活単位＝家族の小集団からなる群（ホルド、horde ）、共同体的な群生活 労働形態＝単独作業か協同作業（分業は未発達） 新石器時代……磨製石器や土器を用いた農耕や牧畜 ……自給自足がやはり支配的 分業が発達し始める 古代、中世、近世……自給自足は次第に縮小、分業＝交換経済が次第に発達

4 ２．Barter Economy 物々交換経済
Neolithic era starting of agriculture and livestock → people started settlement Elaboration of techniques to make tools such as earthenware, fine stone tools, hoe, fishing nets, textiles, boats → division of labor develops → People needed to exchange things they made with things made by others = Barter , direct exchange → Determination of exchange ratio Groups of relatives and relatives → formation of clans → Formation of villages → formation of tribal or community small country → development of private property system and division of labor 新石器時代……農耕や牧畜の開始→定住化 土器、細石器、鍬、漁網、織物、舟などの道具を作る技法が精巧化 →分業（division of labor）が発達 →自分の作った物を他人の作った物と交換する必要 ＝物々交換（バーター、barter）、直接交換(direct exchange ） →交換比率の決定 血縁的・地縁的親族集団＝氏族の形成 →村落の形成→部族ないし部落的小国家を形成→私有財産制や分業の発達

5 ２B．Barter Economy 物々交換経済
Disadvantages of barter It is difficult to satisfy the double coincidence of wants There should be someone who wants something that I made and I should want what someone made. Moreover, something that I want should have the same amount of value in exchange as something that someone wants. → The beginning of markets In the ancient clan state of Japan, the market (Ichi) meant a place where people gather. Karu-ichi and Tsubaki-ichi in Yamato, Eka-ichi in Kawachi City 物々交換の欠点 欲望の二重一致（double coincidence of wants ）を満たしにくい 自分の作ったものを欲しいという誰かがいて、その誰かが作ったものを 自分が欲しいと思わなければならず、しかも自分が欲しいものの量と 相手の欲しいものの量とが、交換上同じ価値をもたねばならないこと。 →市場（market）の始まり わが国の古代氏族国家では、人々の集まる場所を意味した市（いち） 大和の軽市・海石榴市、河内の餌香市

6 ３．Indirect Exchange Economy & Emergence of Money 間接交換経済と貨幣の出現
It is handy from the majority of people in society and can be ordered with anyone in general Goods with general acceptability = value scale, numerere = money Indirect exchange mediated by money → The economy is monetary economy Superiority of indirect exchange ... Although it costs transaction costs, it saves search costs and increases a possibility of exchange 社会の大多数の人々から重宝がられ、誰とでも交換に応じてもらえる一般的 受容性(general acceptability)をもつ財＝価値尺度財＝貨幣（money ） を媒介とする間接交換（indirect exchange ） →その経済は貨幣経済（monetary economy） 間接交換の優越性…取引費用はかかるが、探索費用が節約され、交換可能性 　が高まる

7 ３B.Indirect Exchange Economy & Emergence of Money 間接交換経済と貨幣の出現
Basic characteristics necessary for money (1) Divisibility is that money is easy to divide and can express the value precisely and homogeneously Homogeneity = even better if quality is homogeneous (2) Portability is that even a small amount of money has a relatively large value, and that it is convenient for carrying and transporting (3) Durability is that money is durable, less deterioration, less wear and damage 貨幣に必要な基本的性質 （１）分割可能性（divisibility） 　　　分割が容易に可能で、価値を細かくしかも均質的に表わせること 　　　均質性（homogeneity ）＝品質が均等な性質があればさらによい （２）携帯可能性（portability ） 　　　少量でも比較的に大きな価値を持ち、携帯や運搬に便利なこと （３）耐久性（durability） 　　　耐久性があり、変質や減耗、毀損が少ないこと

8 ４．Development of Money & Market Economy 貨幣と市場経済の発達
Goods that satisfy the fundamental nature of money Agricultural society → grains such as wheat, hunting society → arrowheads and furs Fishery society → bone horn vessel and shells, livestock farming society → livestock etc. Depending on the area → salt and woven fabric etc. They are commodity money = goods consumed well in daily life Expansion of indirect exchange → development of division of labor → Increase in productivity Refining of copper and bronze (Bronze Age), refining of precious metals such as silver and gold → The emergence of metallic money Money by weight= money that needs to examine grade and to measure the weight before exchange 貨幣の基本的性質を満たす財 　農耕社会→小麦などの穀物、 　 狩猟社会→矢尻や毛皮など 　漁撈社会→骨角器や貝殻など、　牧畜社会→家畜など 　地域によっては→塩や織布など 　物品貨幣（commodity money ）＝日常生活でもよく消費された物品が貨幣 間接交換の拡大→分業化の発展→生産力の増大 　銅や青銅の精錬（青銅器時代）、銀や金の貴金属の精錬 　→金属貨幣（metallic money ）の出現 　　秤量貨幣（money by weight ）品位を検査し、量目を秤で計量してから交換する必要

9 ４B．Development of Money & Market Economy 貨幣と市場経済の発達
Markets began to be established permanently → production of commodity = to produce goods exclusively for sale → development of commerce → expansion of market transactions → Development of market economy Establishment of legal tender and monetary system Lydia Kingdom in Small Asia in the 7th century BC……Electron Athens, the city of Greece, in the 6th century BC ……Drachma → Unification of monetary units → exchange ratio expressed in terms of money unit = price 市の常設化→商品（commodity ）生産 ＝もっぱら販売を目的に財を生産 →商業の発達→市場取引の拡大 →市場経済（market economy）の発達 法定貨幣（legal tender）や貨幣制度（monetary system ）の創設 紀元前７世紀小アジアのリディア王国（エレクトロン） 紀元前６世紀にギリシアの都市国家アテネ（ドラクマ） →貨幣単位（monetary unit ）の統一 →貨幣単位で表示された交換比率＝価格（price）

10 ４C．Development of Money & Market Economy 貨幣と市場経済の発達
Production of casting money (coins) →Not only grade and quantity but also shape are equal China‘s Spring and Autumn Five Hegemons era (6th-3rd century BC) → bronze coins that shaped ants nose, cloth, or sword Circulation of bad money through private reforming → The state monopolized mintage right, supplied more money by reforming casting money Tendency that " bad money drives out good money“ = Gresham's law 鋳造貨幣（鋳貨、coin）の製造 品位と量目のみならず形状も等しい 中国の春秋五覇時代(紀元前６～３世紀)→蟻鼻銭、布銭、刀銭等の青銅貨 民間の改鋳による悪貨の流通 →国家は造幣権（mintage right ）を集中、改鋳でより多くの鋳貨を供給 「悪貨が良貨を駆逐する」傾向＝グレシャムの法則（Gresham‘s law ）

11 ５．Development of Credit Money 信用貨幣の発達
Development of papermaking technology and printing technology → Issuance of paper money Credit money, nominal money = Money with general acceptability based on government credit Convertible paper money system = to ensure general acceptability by guaranteeing conversion to legal coins Standard system Silver standard, gold standard 製紙技術や印刷技術の発達→紙幣（paper money ）の発行 信用貨幣（credit money）、名目貨幣（nominal money ） ＝政府の信用を基礎に一般的受容性をもつ貨幣 兌換紙幣制度（convertible paper money system） ＝鋳貨と兌換することを保証して一般的受容性を確保 本位制（standard system ） ……銀本位制（silver standard ）、金本位制（gold standard ）

12 ５B．Development of Credit Money 信用貨幣の発達
Managed currency system →Money is regulated according to government policy goals regardless of gold reserve In ancient times and medieval times, financial institutions such as money lenders or money exchangers → issue their own testimonials or receipts → developed into banks in modern times → Emergence of bank money …… inside money Government legal money and gold coins etc are outside money 管理通貨制（managed currency system ） 貨幣は金準備とは係りなく政府の政策目標に従って調節 古代や中世では金貸しや両替商のような金融業者→独自の証文を発行 →近世には銀行に発展 →銀行貨幣（bank money ）の出現、内部貨幣（inside money） 政府の法定貨幣や金貨などは外部貨幣（outside money ）

13 ６．Functions of Money 貨幣の機能
Fundamental function （１） Measure of value or accounting unit Function to express exchange ratio with goods and services before exchange ← Nature of divisibility (2) Medium of exchange Functions that can be exchanged for any goods as an intermediary for exchange ← Nature of portability (3) Store of value Function to carry value over to the future ← Nature of durability 本源的機能（fundamental function） （１）価値尺度（measure of value）ないし計算単位（accounting unit ） 交換に先立って財貨や用役との交換比率を表わす機能 ←分割可能性の性質 （２）交換手段（medium of exchange） 交換の仲立ちとしていかなる財とも交換できる機能 ←携帯可能性の性質 （３）価値貯蔵手段（store of value） 貨幣が価値を将来に持ち越せる機能 ←耐久性の性質

14 ６B．Functions of Money 貨幣の機能
Derivative function (1) Means of payment＝Ability to loan and settle accounts and obligations (2) Transport of value＝Ability to carry value over to a remote location Things that fulfill these functions are money regardless of their names Money, currency = Cash currency + demand deposit = M1 = currency in the narrow sense 派生的機能（derivative function ） （１）決済手段（支払手段、means of payments）=貸借や債権・債務の決済ができる機能 （２）価値輸送手段（transport of value）=価値を遠隔地に運べる機能 こうした諸機能を果たすものは名称に係わらず貨幣 貨幣（money）、通貨（currency） ＝現金通貨（cash currency ）＋要求払預金（demand deposit） ＝M1＝狭義の貨幣

15 ６C. Functions of Money 貨幣の機能
Cash currency + demand deposit + time deposit = M2 = Money in the broad sense Time deposits = near money, quasi-currency Overdraft is a currency Accounting money = means used for electronic settlement by computers 現金通貨＋要求払預金＋定期性預金（time deposit） ＝M2＝広義の貨幣 定期性預金＝近似貨幣（near money）、準通貨（quasi-currency） 当座貸越（overdraft）は貨幣 清算貨幣（accounting money）＝コンピューターの電子決済に使われる手段

16 ７． Characteristics of Market Economy 市場経済の特徴
（１）Markets hold as a general place for transactions consumption services markets, consumption goods markets, capital goods markets, products markets, production services markets, production factors markets, financial markets, international trade markets, international financial markets, foreign exchange markets （２）To be a monetary economy. An economy dominated by money-mediated indirect exchange Economic circulation François Quesnay "Tableau economique" (1758) A metaphor for blood circulation in the human body "Buying money with goods and buying goods with money“ , Robert Clower （１）市場が普遍的な取引の場として成立していること。 消費用役市場、消費財市場、資本財市場、生産物市場、生産用役市場、生産要素市場、金融市場、国際貿易市場、国際金融市場、外国為替市場 （２）貨幣経済であること。 貨幣を媒介とする間接交換が支配的な経済 経済循環（economic circulation） フランソワ・ケネー 『経済表』(1758)人体における血液の循環に比喩 「財で貨幣を買い、貨幣で財を買う」経済（ロバート・クラウアー）

17 ７B．Characteristics of Market Economy 市場経済の特徴
(3) The price mechanism is responsible for the main resource allocation. Market mechanism, market principle System of prices Barometric function of prices Automatic stabilizing function of price mechanism Adam Smith, Invisible Hand of God （３）価格機構（price mechanism ）が主たる資源配分を司っていること。 市場機構（market mechanism）、市場原理（market principle） 価格体系（system of prices） 価格のバロメーター機能（barometric function of prices ） 価格機構の自動安定機能（automatic stabilizing function） アダム・スミス、神の見えざる手（Invisible Hand of God）

18 ７C．Characteristics of Market Economy市場経済の特徴
(4) Each economic subject voluntarily performs economic activities according to their own free will. Maximization behavior= Behavior where each economic subject pursues each objective to the utmost Market mechanism = "dollar voting" system by all people (Paul. Samuelson) → Consumers’ freedom of choice determines the demand for consumer goods Production activity is also determined based on that = Consumers' sovereignty, ‘consumers are the kings’, ‘consumers are God’ Dependence effect through advertisement and publicity (J.K. Galbraith) （４）各経済主体が自由意志に従って自発的に経済活動を行うこと。 最大化行動（maximization behavior ） ＝各経済主体がそれぞれの目的を最大限に追及する行動 市場機構＝万人による「ドル投票」の制度（ポール・サミュエルソン） →消費者の自由選択で消費財需要が決まり、 生産活動もそれに基づいて決まる ＝消費者主権（consumers‘ sovereignty ）、「消費者は王様」 広告や宣伝を通じた依存効果（dependence effect ）（ガルブレイス）