demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …Modern exchange theories model a large market, but do not explain single exchanges. This paper considers the phenomenon … of single exchange and formulates the general exchange problem in the form of a system of two equations, subjective and …

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 …

view, money is a neuronally anchored metaphor for emotions relating with social exchange and reciprocity. Money as a meme … population-level interactions. I apply this framework on the case of money, analyzing the emotions that go along with the use of … money, and presenting a stylized account of the emergence of money in terms of the naturalized Searle-Aoki model. In this …

This article purports to trace the origin of money on the basis of factors in interpersonal relationships, affecting a … process toward the creation of money started, without any intrinsic value and the presence of any superior authority. In the … paper it is also hypothesized that the creation of money is one of the basic factors in the progress of economic and social …

-free asset over time. The four models specify this single asset to be private bonds, public bonds, public money, or private money … refers to the limits on private issue of money or bonds, or the supplies of publicly issued bonds or money.) …

classifies an item as money if and only if it functions as a commonly-accepted medium of exchange. Then, we show that the demand …In a recent article, Yermack (2015) argues that bitcoin is not money because it functions poorly as a medium of … exchange, unit of account, and store of value. We offer a more conventional view. We maintain that the standard approach …