Money metrology

2020 ◽  
pp. 42-50
Author(s):  
V. N. Krutikov ◽  
V. V. Okrepilov
Keyword(s):  
Gold Standard ◽  
Supply And Demand ◽  
Precious Metals ◽  
Legal Metrology ◽  
Important Principle ◽  
Monetary System ◽  
Stage Of Development ◽  
Fixed Weight ◽  
Long Time ◽  
Material Measure

The influence of the provisions of legal metrology on the formation and functioning of the monetary environment in market conditions is studied. It is shown that the use of material (reference) measures for determining the value of goods in monetary units makes it possible to form a stable monetary system, equal for all market participants. This system can reasonably be attributed to information measuring systems. Systems based on the use of constant material measures that determine the value of goods and money in international trade have been formed and functioned for a long time. In the XIX-XX centuries, the monetary system, in which a fixed weight of gold served as the material measure of money, was called the “gold standard”. In the 1970s, this system was abandoned without objective reasons. Nowadays, many people believe that the main reason is the uncontrolled issuance of paper money (US dollars). As a result, the material measure of money was replaced by a monetary measure. The money of a number of selected countries turned out to be a measure of the national currencies of other countries. Then money was made a commodity – an object of market trading, the price of which is determined by supply and demand. Thus, the most important principle of metrology was violated – the invariability (constancy) of the measure of system objects. The resulting monetary system became unstable. This situation has led to an increase in the number of proposals for a return to the gold standard. The analysis carried out in the paper confirmed the relevance of these proposals. At the present stage of development of metrology, it is advisable to explore the possibility of a broader (not only at the expense of precious metals) resource provision of material monetary measures, in particular, to consider the possibility of using materials and (or) goods that are in high demand in the international market as monetary measures.

scholarly journals A Model of the International Monetary System*

2017 ◽  
Vol 133 (1) ◽  
pp. 295-355 ◽  
Author(s):  
Emmanuel Farhi ◽  
Matteo Maggiori
Keyword(s):  
Simple Model ◽  
Gold Standard ◽  
Supply And Demand ◽  
International Monetary System ◽  
Rate System ◽  
Monetary System ◽  
The World ◽  
The Common ◽  
Triffin Dilemma ◽  
World Supply

AbstractWe propose a simple model of the international monetary system. We study the world supply and demand for reserve assets denominated in different currencies under a variety of scenarios: a hegemon versus a multipolar world; abundant versus scarce reserve assets; and a gold exchange standard versus a floating rate system. We rationalize the Triffin dilemma, which posits the fundamental instability of the system, as well as the common prediction regarding the natural and beneficial emergence of a multipolar world, the Nurkse warning that a multipolar world is more unstable than a hegemon world, and the Keynesian argument that a scarcity of reserve assets under a gold standard or at the zero lower bound is recessionary. Our analysis is both positive and normative.

scholarly journals DINAR AND DIRHAM; SUSTAINABLE MONEY FOR SUSTAINABLE SOCIETY

ICCD ◽  
2019 ◽  
Vol 2 (1) ◽  
pp. 517-521
Author(s):  
Eko Tama Putra Saratian ◽  
Harefan Arief ◽  
Mochamad Soelton ◽  
Nico Alexander Vizano ◽  
Mugiono Mugiono
Keyword(s):  
Shelf Life ◽  
Community Service ◽  
Gold Standard ◽  
Precious Metals ◽  
Ordinary People ◽  
Sustainable Society ◽  
The Real ◽  
The Public ◽  
Fiat Money ◽  
Monetary System

This is a community service related to the development of economic society through socialization on dinar and dirham as sustainable money. Money in sharia is precious metals such as gold and silver, or commodities such as wheat, barley, dates, and salt, which are the consumed commodities daily as food and have a shelf life. The failure of the current economic and monetary system is caused by the use of fiat money as a medium of exchange that deviates from the gold standard. Ironically, many ordinary people do not understand the real concept of money. In returning the standard of exchange, it is necessary to learn deeply about this subject. For this reason, there is a need for socialization to the wider community to open the way for the return of the dinar and dirham as a true medium of exchange. The results of the activity are expected to increase good understanding of the concept of money and the public can learn to do transaction using dinar and dirham in the future.  

Formation of the research tradition of studying the institute Parliamentarism as a mechanism for the establishment of democracy

2017 ◽  
pp. 187-198
Author(s):  
Akil Ibrahim Al-Zuhari
Keyword(s):  
Balance Of Power ◽  
Research Strategy ◽  
The State ◽  
Executive Power ◽  
Research Tradition ◽  
Stage Of Development ◽  
The People ◽  
Long Time ◽  
The Government ◽  
Parliamentary Regimes

The article defines the features of the process of forming the research tradition of studying the institute of parliamentarism as a mechanism for the formation of democracy. It is established that parliamentarism acts as one of the varieties of the regime of functioning of the state, to which the independence of the representative body from the people is inherent, its actual primacy in the state mechanism, the division of functions between the legislative and executive branches of government, the responsibility and accountability of the government to the parliament. It is justified that, in addition to the regime that fully meets the stated requirements of classical parliamentarism, there are regimes that can be characterized as limited parliamentary regimes. The conclusions point out that parliamentarism does not necessarily lead to a democracy regime. At the first stage of development of statehood, it functions for a long time in the absence of many attributes of democracy, but at the present stage, without parliamentarism, democracy will be substantially limited. Modern researchers of parliamentarism recognize that this institution is undergoing changes with the development of the processes of democracy and democratization. This is what produces different approaches to its definition. However, most scientists under classical parliamentarianism understand such a system, which is based on the balance of power. This approach seeks to justify limiting the rights of parliament and strengthening executive power. Keywords: Parliamentarism, research strategy, theory of parliamentarism, types of parliamentarism

scholarly journals An Attempt To Exemplify The Economic Principles In Real Property Valuation

2015 ◽  
Vol 23 (3) ◽  
pp. 5-13 ◽  
Author(s):  
Ewa Kucharska-Stasiak ◽  
Sabina Źróbek
Keyword(s):  
Economic Theory ◽  
Opportunity Cost ◽  
Supply And Demand ◽  
Real Property ◽  
Basic Principles ◽  
Research Results ◽  
Property Valuation ◽  
Important Principle ◽  
Income Approach ◽  
Traditional Approaches

Abstract The economic theory argues that the value of assets, including the value of real property, is influenced by many factors which determine the behavior of operators engaged in market transactions. The knowledge of basic principles and assumptions which underpin the development of value is essential to understanding the methods and procedures of valuation. The thesis, upon which the authors of this article based their theoretical and practical considerations, is formulated as follows: “The knowledge of economic principles of valuation improves the accuracy of valuation and allows for more appropriate interpretation of its results”. Therefore, these factors should be taken into account by appraisers estimating the value of property. Over a dozen so-called key principles of valuation have been formulated in literature. Among them are the principles of anticipation, change, substitution, supply and demand, competition, balance, highest and best use, conformity, and externalities. It is assumed that the most important principle in the valuation of property is the principle of anticipation. Some of the principles are relevant to all the traditional approaches to determining value, while others apply only to selected approaches e.g., the principle of opportunity cost, which is mainly used in valuations using the income approach. The thesis is supported by research results and an analysis of practical examples.

A Supply and Demand Exposition of the Operation of a Gold Standard in a Closed Economy

1985 ◽  
Vol 16 (1) ◽  
pp. 16
Author(s):  
Cecil E. Bohanon ◽  
Gerald J. Lynch ◽  
T. Norman van Cott
Keyword(s):  
Gold Standard ◽  
Supply And Demand ◽  
Closed Economy

scholarly journals Seasonal changes of biological condition and reproductive cycle of hampback shrimp Pandalus hypsinotus (Caridea, Pandalidae) in the Tatar Strait

2021 ◽  
Vol 201 (3) ◽  
pp. 547-560
Author(s):  
D. N. Yuriev ◽  
G. V. Zhukovskaya
Keyword(s):  
Reproductive Cycle ◽  
Japan Sea ◽  
Biological Condition ◽  
Tatar Strait ◽  
Stage Of Development ◽  
Long Time ◽  
Pass Through ◽  
The Individual ◽  
Almost All ◽  
Trawl Catches

Research and commercial trawl catches of humpback shrimp Pandalus hypsinotus from the Tatar Strait (Japan Sea) in 2004–2020 were investigated, with bioanalysis of about 45 thousand specimens. Average timing of group molting, spawning, and eggs laying are determined, terms of gonads and eggs development are estimated. Prespawning and molting of the females occur between January-April, with the peaks in early February and middle February, respectively. All oviparous females have 30–40 days to lay eggs, and molt during 50–55 days; the peak of the eggs laying occurs in late June. The males molt in July-August, afterwards the largest individuals change gender and new intersexes are formed. The males have the second molting in October-December, with the peak in late November. In January, after finish of the males molting, a new annual reproduction cycle starts from the prespawning molting of females. Both vitellogenesis and embryogenesis are observed through the year, though females with developing gonads prevail from August to January (because of a long time span between winter and summer moltings while the egg carrying continued 15 months) but oviparous females — from February to July. The individual reproductive cycle of Pandalus hypsinotus in the Tatar Strait lasts 24 months, with 9 months of vitellogenesis (quick growth of gonads) and 15 months of embryogenesis. During the 2-year reproductive cycle, most of females pass through the following stages: i) gonads development (just after eggs laying) when almost all oviparous females (up to 95 % in May) have green gonads under carapace that corresponds to the stage of development «eggs laid — gonads weakly developed»; ii) summer molting from August when females lose hairs on pleopods and the gonads growth accelerates; iii) respawning in January-March (together with the firstly spawning intersexes, with slight delay of the latter); iv) initial developing of eggs during summer; v) stage of «eyed eggs» from December to March; and vi) eggs laying and molting from late March to late May; then the 2-year reproductive cycle repeats.

scholarly journals Supply Chain Management and the Covid-19 Outbreak: Optimizing its Role for Indonesia

2020 ◽  
Vol 3 (2) ◽  
pp. 196-202
Author(s):  
Siti Amalia ◽  
Dio Caisar Darma ◽  
Siti Maria
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Supply Chains ◽  
Supply And Demand ◽  
Chain Model ◽  
Chain Management ◽  
New Normal ◽  
Food Supply Chains ◽  
Long Time ◽  
Demand Patterns

At the beginning of the emergence of Covid-19, there was panic buying in Indonesia which caused an unusual situation in supply management. Although the handling of this epidemic has entered a "new normal", the availability of stocks of electronics, automotive, pharmaceuticals, food, and others is running low and out of control, so supply chain management is needed. The purpose of this article is to try to see the extent of the transformation in supply and demand in Indonesia. With this in-depth literature, the supply chain model is likely to transform globally, given that many companies are confused about management being unable to cope with drastic changes in the market. The demand patterns over the past period indicate a shift from offline to online storefronts. Even though it has now entered a transition to a new normal and shopping outlets are slowly opening up, online shopping or demand patterns are predicted to last a long time. Therefore, supply chain actors, especially farmers, logistics entrepreneurs, and shipping services, inevitably have to be able to quickly adapt to changing patterns in Indonesia. There is an imbalance between the demand and supply sides. Food supply chains tend to be unique in comparison to the supply chains of other products and services.

The Fall

Money ◽  
2017 ◽  
Author(s):  
John Kenneth Galbraith ◽  
James K. Galbraith
Keyword(s):  
United States ◽  
New York ◽  
World War I ◽  
Gold Standard ◽  
Stock Exchange ◽  
The United States ◽  
World War ◽  
Industrial Countries ◽  
Monetary System ◽  
York Stock Exchange

This chapter examines the end of the international gold standard during World War I. The creation of the Federal Reserve System—with its idea of centralized banking carried out by twelve central banks—ended the United States's long struggle to perfect a sensible, conservative monetary system. Everywhere in the industrial countries money of whatever kind was now exchangeable, without pretense or delay, into gold. The chapter considers how the major industrial participants—Germany, France, Britain, Austria—suspended specie payments and went off the gold standard when World War I broke out; the dumping of securities on the New York market in the first nervous days of the war; the shutdown of the New York Stock Exchange; and how the United States eventually abandoned the gold standard. The increase in whole prices in the United States during all the war years is also discussed.

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