シュンペーターの信用論・銀行家論から見た現代のクラウドファンディング

抄録

This study delves into the burgeoning phenomenon of crowdfunding as an innovative financing mechanism in modern capitalism, scrutinizing it from two perspectives: the often overlooked “credit theory of money,” within the Schumpeterian framework and the successful transition from capitalism to socialism. This study will then explore the prospects of the “new capitalism” being discussed domestically and abroad. In view of this, the study poses two research questions and derives answers for both: (1) How is it evaluated from the perspective of Schumpeter’s credit theory and the traditional role of bankers, and what is new about it? (2) How can the state’s involvement in contemporary crowdfunding and innovation be interconnected? The answer to the first question is as follows: modern crowdfunding can be seen as meeting Schumpeter’s criteria for a banking function by linking the quality of information disclosure on crowdfunding platforms with the cumulative experience of the general public. The answer to the second question is as follows: based on recent previous research, there is an increasing possibility of interpreting Schumpeter’s socialism as a cooperative-type economy. This interpretation hinges on the state espousing an entrepreneurial function and the general public contributing to aspects of the banker function.