There are both non-consensus and many misunderstandings in the understanding of virtual economy in society.
1. First, the word fictitious economy comes from the fictitious capital defined by Marx, which is called financial deepening in the West relative to the real economy. Virtual capital can be bought and sold as commodities, and can be used as capital appreciation, but it has no value in itself, such as: banking, finance, securities, gaming, collection, etc.
2. Second, economists once had a very concise definition of virtual economy, that is, money generates money, such as stock speculation, currency speculation, shoe speculation, real estate speculation and futures speculation, etc. The essence is that money generates money.
3. The original meaning of the word virtual economy in English and German is false, illusory, and fictitious. In Marx’s eyes, all speculative bubbles and even financial crises are caused by the excessive development of virtual capital.
4. Marx believed that if the fictitious capital grows excessively, it will absorb a large amount of capital from the real sector to flow into the stock market, foreign exchange market, real estate, etc., which will cause the development of the real economic sector to slump or stagnate due to high financing costs, and ultimately hinder agriculture, industry, services and other entities. economic development.
5. High liquidity instability, high risk and high speculation are the four characteristics of virtual economy.
6. The virtual economy is the product of the development of the market economy to a certain stage. The virtual economy mediates the flow of actual capital through the securitization of capital and property rights, so as to optimize the capital and social resources. The combination creates a reasonable industrial structure, product structure and technology structure, thereby promoting the healthy and coordinated development of the economy, which is a positive role.
7. The essence of e-commerce sales, friends circle sales, and live broadcast sales is not a virtual economy, but a change in the sales channels of the real economy, but Internet financial online games belong to the virtual economy.
Finally, both the real economy and the virtual economy are part of the market economy and part of the international competition between countries. As long as the virtual economy is properly managed and the economy is prevented from deviating from the real economy, the virtual economy can play a positive role.