{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"5aba73df-238c-4ba0-bd59-c6ff3e9099f3","title":"虚拟资本：金融怎样挪用我们的未来","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9787300330303","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"5aba73df-238c-4ba0-bd59-c6ff3e9099f3","id":"5aba73df-238c-4ba0-bd59-c6ff3e9099f3","uuid":"5aba73df-238c-4ba0-bd59-c6ff3e9099f3","title":"虚拟资本：金融怎样挪用我们的未来","normalized_title":"虚拟资本金融怎样挪用我们的未来","author":null,"edition":null,"publisher":null,"year":null,"isbn":"9787300330303","isbns":["9787300330303"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":236,"navigation_url":"https://workshop.closeclaw.top/ai/book/5aba73df-238c-4ba0-bd59-c6ff3e9099f3","title_url":"https://workshop.closeclaw.top/ai/title/%E8%99%9A%E6%8B%9F%E8%B5%84%E6%9C%AC%EF%BC%9A%E9%87%91%E8%9E%8D%E6%80%8E%E6%A0%B7%E6%8C%AA%E7%94%A8%E6%88%91%E4%BB%AC%E7%9A%84%E6%9C%AA%E6%9D%A5","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/5aba73df-238c-4ba0-bd59-c6ff3e9099f3/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/5aba73df-238c-4ba0-bd59-c6ff3e9099f3/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/5aba73df-238c-4ba0-bd59-c6ff3e9099f3","page_url":"https://workshop.closeclaw.top/api/ai/books/5aba73df-238c-4ba0-bd59-c6ff3e9099f3/page","search_url":"https://workshop.closeclaw.top/api/ai/books/5aba73df-238c-4ba0-bd59-c6ff3e9099f3/search"},"page":{"printed_page":"11 / 107","pdf_page":145,"physical_index":145,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"b7cb53bcf4ed511a7cce81f7dbda6296a9b886ad8667c259ccafd237ebbed016"},"chapter":"虚拟资本金融怎样挪用我们的未来","content":"资本收益\n\n股票和可交易债务的价格就像房地产或原材料等其他类型实物资产的价格一样波动。这种波动为另一种乍看起来更难把握的金融利润资本收益开辟了道路。这是指股票买入价与卖出价之间的差额所产生的利润。投机者专门追求这类利润。\n\n与公司支付的利息和股息不同，这类利润完全不依靠公司利润。它仅在金融市场上实现，持有证券的人设法以高于买入价的价格出售证券。因此，从形式上讲，利润来源于买方希望投资于该证券的闲置资金。这是因为市场主体对未来收益和相关资产风险的评估发生了变化。如我们所见，这是一种自我指涉的评估。然而，它的定义（在合理的范围内）相对独立于与风险/收益配对相关的预期收益所产生的基本价值。简而言之，尽管资本收益是真实的，但它由虚拟资本的价值变化产生。无论哪种资产类别，资本收益都源于市场参与者之间的一场零和博弈——只有当市场上的买方接手这些“幻象”时，价格上涨积累的虚拟资本对特定卖家而言才变成了现实。如果一些参与者实现的剩余价值与另一些参与者的亏本销售相匹配，那么总体上说，这些资本收益为零。在某一特定时期，资本收益总体上是正数，那是因为相关资产市场吸引了更多可用的货币资本。这种额外的资本流动可以来自其他不太有利的资产市场，也可以来自银行储蓄的减少、总体储蓄的增加、资本的进口，或者来自用于金融业务的银行信贷的增加。\n\n第六章 金融利润从何而来？\n\n11\n\n107","previous_page":144,"next_page":146}