Page 159 - 《社会》2025年第2期

社会·2025·2

the Yanjing School included at least four aspects：（1） Cash flow transfers in rural
communities；（2） Capital accumulation in rural industry；（3） Rural commercial
capital；（4） Land financial issues. As inflation worsened， the corresponding
changes in these areas showed that the urban financial crisis had a serious siphoning
effect on rural societies. The paper pointed out that the Yanjing School， aware of
the contradiction between the embedded character of the Chinese countryside and
the dis鄄embedded nature of the world economy， did not want to see a system of
financial corruption around the sitters， nor did it want to follow the fully marketized
financial pattern of Western Europe， but rather attempted to explore a way to
protect the rural society. Echoing Fei Xiaotong’s“dual鄄track politics” of the same
period， the financial research of the Yanjing School was also characterized by a
dual鄄track system. They realized that the “two鄄track system” of the small peasant
economy and the market economy had become the main contradiction， and that in
order to solve this contradiction， the market economy could not be used as the
single logic and the main basis. In the face of the rapid onslaught of the capitalist
market system， the transformation of the countryside should be a relatively slow
process that could not be achieved at the expense of the countryside. What the rural
finance research of the Yanjing School can teach us today is that Chinese finance
should be a unique form that integrates the defense of society and the promotion of
macroeconomic development.
Keywords：rural finance，inflation，Yanjing School，urban鄄rural economic relations

一、问题的提出

在早期中国社会学界，“燕京学派” 是较早开始有意关注和讨论中
国现代社会的金融问题和金融风险的学术团体， 以费孝通及其学生张
之毅为代表。 费孝通基于 1936 年的江村调查完成的《江村经济》讨论过
农村信贷问题，指出农村经济萧条的直接原因是家庭手工业的衰落，而
家庭手工业衰落的原因有三个：第一，受世界市场价格波动影响，乡村
工业生产未能及时跟上市场需求， 导致蚕丝价格下降， 手工业利润大
跌；第二，城市资本流向对外通商口岸，而不流入农村（乡村工业产品消
费大幅下降）；第三，不断增加的利息、地租和捐税抬高了农民的生活成
本，进一步挤兑了农村手工业的生产资金。 这三个方面合起来的结果就
是乡村没有良好的信贷系统提供生产资金， 从而让城镇高利贷填补了

· 152·