西方市场经济是怎样协调和组织投资活动的?惯常的认识是通过价格、利率和工资的运动来调节和配置资源,包括投资,并且,通常认为市场本身难以组织好投资活动。其实,只要我们不带偏见地仔细考察一下现代西方市场经济就会发现,经过了一系列制度组织创新后的现代市场经济,调节和组织投资活动的方法远非我们想象的那么单调,因而它们组织和调节投资活动的局限比我们想象的小得多。如果我们分析得出的结论能够站得住脚的话,我们投资领域引入市场机制改革的胆子就可以更大些,步子就可以更得力一些,更稳妥一些,这就是本文的意图所在。 How does the Western market economy coordinate and organize investment activities? It is a common understanding to regulate and allocate resources, including investment, through the movement of prices, interest rates and wages, and it is generally considered difficult for markets to organize their investment activities. In fact, as long as we examine the modern Western market economy without any prejudice, we find that after a series of institutional innovations in the modern market economy, the methods of regulating and organizing investment activities are far from monotonous as we would imagine. And the limitations of regulating investment activities are much smaller than we think. If the conclusions drawn by our analysis are sound, the courage to introduce the reform of the market mechanism in our investment area can be greater and the paces can be made stronger and safer. That is what this article intends.