Modern Money Theory (MMT) has generated considerable scrutiny and discussions over the past decade. While it has gained some acceptance in the financial sector and among some politicians, it has come under strong criticisms from all sides of the academic spectrum and from conservative political...

Assessments of the Russian invasion of Ukraine are limited to 20th century ideas of conquest/colonialism. They are tied to ideological frameworks of human history where ill-defined concepts of liberal democracy and totalitarian states are juxtaposed as if there were established typologies of...

We reply to the critics who contributed the other papers in the same issue of this journal. In the first part of the article, we indicate those remarks addressed to us, which we deem inappropriate to answer. The second part deals with the remarks we find useful to answer, which relate to money,...

The Guyana government, from 2015 to 2021, accumulated a large overdraft on its central bank account. It owed this overdraft to a binding debt ceiling limit and fractious political environment that prevented an increase in the ceiling, allowing for the auctioning of Treasury bills to create the...

Based on a critical review of the leading theories of money, this paper argues that ‘money-like' assets used throughout history to finally settle obligations, including commodities and state-debt, are ‘settlement assets' and that settlement assets should be explicitly recognised as a new and...

In this paper I am going to explore some of the major theoretical concepts and ideas in Luca Fantacci’s work devoted to the history of money. As a historical check on Fantacci’s theory I will present various moments in Russian monetary history interpreted in the light of the ideas of the La...

In the paper, an analogy with length measurement is applied in order to explore the nature of the unit for value measurement, i.e. the unit of account. As the meter is defined as the length traveled by light in vacuum during 1/299 792 458 of a second, the unit of account krona is defined as the...

Based on an interdisciplinary approach, this article aims at elucidating what can be called the nature of money. To define it, we first distinguish between the generic properties of every money and its different and non specifically monetary uses. Then currency is grasped through its three...

A partir d’une approche interdisciplinaire, l’article cherche à élucider ce qu’on peut appeler la nature de la monnaie. Pour cela, on distingue d’abord les propriétés génériques de toute monnaie et ses usages non spécifiquement monétaires. On présente ensuite les trois formes...

In this paper I first provide an overview of alternative approaches to money, contrasting the orthodox approach, in which money is neutral, at least in the long run; and the Marx-Veblen-Keynes approach, or the monetary theory of production. I then focus in more detail on two main categories: the...