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demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …
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The current discussion about the future of the financial system draws heavily on a set of theories known as the ‘New Monetary Economics’. The New Monetary Economics predicts that deregulation and financial innovation will lead to a moneyless world. This paper uses a market microstructure...
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Money has been a part of human history for almost 3,000 years. Despite this, there is still no universal understanding … of the ontological nature of money. In this paper, a new approach to the understanding of non-commodity money is proposed …. Proceeding from the premise that money is a purely social phenomenon, which exists in human minds rather than in the material …
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