第一个问题,任何片面地主张刺激需求或者刺激供给都具有短期效应。我们知道从经济增长的角度来讲,调需求是必要的,调供给也是必要的。但如果只强调其中一个方面,或者调供给,或者调需求,那就会造成后遗症,对经济是不利的。所以我们在这里首先要提出一个重要的问题,货币政策制定究竟根据什么?你根据什么来制定货币政策?这是关系到整个金融的一件大事情。我们不妨先做个历史的回顾,经济学中最早的是古典经济学,古典经济学通行 The first question, any one-sided advocacy to stimulate demand or to stimulate supply has a short-term effect. We know that from the point of view of economic growth, adjusting demand is necessary and adjusting supply is also necessary. However, if only one of the aspects is emphasized, or the provision of transfer or demand is adjusted, it will cause sequelae and be detrimental to the economy. Therefore, we must first of all raise an important question here: what is the basis for making monetary policy and the monetary policy on which basis? This is a major issue that affects the entire finance. We may wish to be a historical review, the earliest in economics is classical economics, the passage of classical economics