Today all countries have fiat money issued by a central bank. There is no obligation by a central bank to exchange its … money for gold or any other good. Central banks have the monopoly to issue central bank money and have the power to create … their money out of nothing. Creating such a monetary system is functional for a capitalist economy and must be regarded as a …

This paper explores the rise of money and class society in ancient Greece, drawing historical and theoretical parallels … metallist theories of money. It will be shown that the origins and the evolution of money were closely intertwined with the rise … and consolidation of class society and inequality. Money, class society, and inequality came into being simultaneously, so …

threatened central banks money and their role in the monetary system. Meanwhile, central banks have been studying and launching … challenges the boundaries of money. In light of El Salvador experience, we consider different points of view on the nature of … money allowing us to reject or to include Bitcoin and cryptocurrencies inside money spectrum …

to hold money over time - and due to convertibility there is no means by which the Friedman rule can generate deflation … activity, so the optimal quantity of money is inherently stochastic. Efficiency in such an environment requires the capacity to … expand the money supply on an “as needed” basis. We show how a debt-based payments system that relies on banks to certify the …

The present work offers a review on two divergent schools of thought regarding the subject of money and highlights why … understanding it is important to grasp the workings and nature of the concept of money. We adopt a spontaneous order perspective on … social institutions, considering money as one. Such framework allows for the construction of axioms from which we formulate …

's key variable, the quantity of money …