Marx’s Usury Capital Theory And Its Contemporary Significance

Since the reform and opening up, the private financing has beenflourishing and become an important supplement to the financing of smalland medium-sized enterprises outside the formal financial institutions,playing a very key role to the development of small and medium-sizedenterprises for a long time. However, from April,2011, a financial crisiscaused by private lending erupted in Wenzhou. A large number of privateenterprises have stopped production and gone bankrupt. Business ownersstarted to run away advance wave upon wave. The outbreak of the stormbroke the private financial system of Wenzhou, forcing private lending andprivate enterprises to the edge of collapse. It is the nature of usury withinprivate lending that causes the crisis.As early as in the third volume of Das Kapital, Marx proposes usurycapital theory which mainly analyzes usurer’s capital in the precapitalistsocial form, including the premise conditions of its generation, its forms,basic characteristics, risks and historical roles, etc. Although the Wenzhoufinancial storm occurs in the socialist society, Marx’s theory about usurer’s capital is still effective. The innovation of this thesis is to give a systemicand objective analysis to the nature of usury and the risks inside the privatefinancing of small and medium-side enterprises in Wenzhou by using theempirical analysis and normative analysis method based on Marx’s usurer’s capital theory, so as to put forward some countermeasures on themanagement of Wenzhou financial crisis.