财政、信贷、物资三大平衡理论,是陈云经济思想的精华所在,反映了计划经济体制下经济稳定增长的客观需求。在政府主导的经济中,财政平衡是支柱,也是核心;信贷平衡和物资平衡往往取决于财政收支是否平衡。在财政、信贷、物资三大平衡中,价格信号起着传导作用。由于政府控制着货币发行和物资调拨,物价剧烈波动的背后一定有财政收支失衡的客观原因。有鉴于此,陈云力主财政安排要有余地,尽量避免出现赤字,以免因通货膨胀贻害民生。陈云的这一观点固然是反映了计划经济的客观规律,但时至今日对理解我国社会主义市场经 The three balance theories of finance, credit and goods are the essence of Chen Yun’s economic thinking, which reflects the objective demand of a steady economic growth under the planned economy. In the government-led economy, fiscal balance is the pillars and the core; credit balance and material balance often depend on the balance of fiscal revenue and expenditure. In the three balances of finance, credit and materials, the price signal plays a conductive role. As the government controls the issuance of currency and the allocation of materials, there is bound to be an objective reason for the imbalance of fiscal revenue and expenditure behind the sharp fluctuations in prices. In view of this, Chen Yunli main financial arrangements should have room to minimize the deficit, so as to avoid harming people’s livelihood due to inflation. Although this view of Chen Yun reflects the objective laws of a planned economy, it is not clear from today’s understanding of the socialist market economy in our country