About alternative concepts of money in Russia (to the 160th anniversary of the birth of A.A. Manuylov). Materials for lectures and seminars

2021 ◽  
pp. 111-123
Author(s):  
I. A. Nazarova
Keyword(s):  
Economic Theory ◽  
Semantic Content ◽  
The State ◽  
Theory And Practice ◽  
Economic Science ◽  
Clear Understanding ◽  
Monetary System ◽  
Value Of Money ◽  
Monetary Circulation

This article examines the scientific ideas about the substantial value of coins, paper and monetary signs of circulation in the Russian economic theory in the second half of the XIX — early XX centuries. The critical re-evaluation of foreign concepts contributed to a deep study of the concept of value, nature and functional role of banknotes in the national economy. The factors regulating the value of banknotes and the key criteria of the new model of elastic monetary circulation are considered. The concepts of Russian economists (A.N. Miklashevsky, A.A. Manuylov, L.V. Fedorovich, M.I. Tugan-Baranovsky, P.A. Nikolsky, N.I. Sieber, and many others) reveal the laws of pricing that affect the value of money. It is suggested that money is «an integral part of the developed social division of labor». In this context, we study the process of forming a systematic understanding of the relationship between different market segments and the state monetary economy, which revealed the specific role of money as an instrument that unites individual markets. It is concluded that, first, in the course of a critical analysis of the concepts of money and the development of the principles of reforming the monetary system in the Russian literature, the foundations of a macroeconomic understanding of the market economy were laid. The semantic «content» of the concept of «conjuncture» indicated an increased interest in macroeconomic research. Second, the development of the theory of the value of money and to elucidate their role in economic conditions contributed to the opening of several new, «frontier» of economic topics, including the theory of industrial crises and characteristics of the circulation of banknotes in extreme conditions at the beginning of the XX century. The fundamental economic concepts of value, price and money are still the «platform» of the most acute theoretical discussions, in which arguments in favor of the interests of traditional market actors, entrepreneurs and the state, are supplemented by the motives of transnational institutions. Knowledge of the theories of the value of money sheds light on the effectiveness of tools for regulating market conditions. The model of monetary circulation as an effective tool for regulating budget deficits and industrial activity during the crisis (with the help of the State Bank`s commercial portfolio) was the experience of the circulation of maternity money in the twentieth century. Familiarity with the positions of leading scientists gives an idea of alternative approaches in the interpretation of value (classical school, Marxism), or value (German historical school, marginalism, nominalism), creates a solid basis for analyzing the features of the domestic monetary system and attempts to reform it at the present time. A retrospective analysis of the theories of the value of money will help to form a clear understanding of the peculiarities of domestic monetary policy, to find out its role in the development of crises, inflation and «lack of money». The article, addressed to teachers of economic theory and the history of economic studies, graduate students, students, and anyone interested in the theory and practice of monetary circulation, attempts to «reveal» the secrets of the economic analysis of value — one of the key problems of economic science.

Wilfred Ethier. Modern International Economics. New York: W. W. Norton and Company. 1983. xviii + 588 pp.

1988 ◽  
Vol 27 (1) ◽  
pp. 81-83
Author(s):  
Nadeem A. Burney
Keyword(s):  
International Economic ◽  
New York ◽  
Economic Theory ◽  
International Economics ◽  
International Monetary System ◽  
International Markets ◽  
The Past ◽  
Monetary System ◽  
Recent Developments

Its been long recognized that various economies of the world are interlinked through international trade. The experience of the past several years, however, has demonstrated that this economic interdependence is far greater than was previously realized. In this context, the importance of international economic theory as an area distinct from general economics hardly needs any mentioning. What gives international economic theory this distinction is international markets for some goods and effects of national sovereignty on the character of economic activity. Wilfred Ethier's book, which incorporates recent developments in the field, is an excellent addition to textbooks on international economics for one- or twosemester undergraduate courses. The book mostly covers standard topics. A distinguishing feature of this book is its detailed analysis of the flexible exchange rates and a discussion of the various approaches used for their determination. Within each chapter, the author has extensively used facts, figures and major events to clarify the concepts in the light of the theoretical framework. The book also discusses, in a fair amount of detail, the existing international monetary system and the role of various international organizations.

scholarly journals Geldtheorie und -politik in Preußen Mitte des 18. Jahrhunderts

2020 ◽  
Vol 61 (1) ◽  
pp. 217-257
Author(s):  
Jan Greitens
Keyword(s):  
18Th Century ◽  
Economic Thought ◽  
Monetary Theory ◽  
Clear Understanding ◽  
Monetary System ◽  
Monetary Approach ◽  
History Of ◽  
Early Modern Era ◽  
Value Of Money ◽  
Modern Era

AbstractIn the history of economic thought, monetary theories in the Germanspeaking world of the early modern era are considered backward compared to the approaches in other European countries. This backwardness can be illustrated by two authors from the mid-18th century who were not only contemporaries but also successively in the service of Frederick II (“the Great”) of Prussia. The first is Johann Philipp Graumann, one of the 'projectors' of the 18th century. As master of the mints in Prussia, he developed a coin project, where he tried to implement a new monetary standard to promote trade, generate seigniorage income and implement the Prussian coins as a kind of a reserve currency. In his writings, he developed a typical mercantilistic monetary theory with a clear understanding of the mechanism in the balance of payments. But even when he tried to include credit instruments, he did not take banks or broader financial markets into account. The second thinker is Johann Heinrich Gottlob Justi, who took the opposite position concerning the coin project as well as in his theory. He defended a strictly metalistic monetary approach where the value of money is only based on the metal's value. While Graumann rejected the English coin system, Justi recommended its laws for countries without their own mines, because the sovereign should not misuse his right of coinage. For him, the monetary system had tobe reliable and stable to serve trade and economic development.

Development of a Methodology for Evaluating Cryptocurrencies as a Promising Means of Payment in the Digital Economy

2021 ◽  
pp. 298-318
Author(s):  
Tatiana A. Kuptsova ◽  
◽  
Vladimir G. Chaplygin ◽  
Keyword(s):  
World Economy ◽  
Current System ◽  
State Regulation ◽  
Theory And Practice ◽  
Monetary System ◽  
Modern Economy ◽  
The World ◽  
Modern Economic ◽  
Methodological Approaches ◽  
Monetary Circulation

The article presents the main results of a study of cryptocurrency as a financial instrument of the future from the standpoint of various methodological approaches aimed at identifying trends in its functioning within the framework of the theory and practice of monetary circulation. The fundamental hypothesis of the study is the prospect of introducing cryptocurrency as a legitimate means of payment to replace the classical forms of money in the context of the transformation of the world economy. This study and its results will contribute to solving a global scientific problem – the formation of a scientifically grounded theoretical and statistical base in the context of the specifics of cryptocurrency’s functioning and the possibility of its functioning as a legitimate means of payment in the modern economy. The relevance of the article is determined by the need to reassess the existing monetary system along with financial mechanisms and operating institutions in view of the emerging crisis of confidence in the current system of state regulation of the economy. The scientific novelty of the article is determined by the development of modern economic theory from the standpoint of the functioning of cryptocurrency as a component of monetary circulation via approaches that study cryptocurrency as an alternative to outdated financial mechanisms. This work opens up an opportunity for further research in the field of cryptocurrency relations, its further improvement and implementation in the national financial system.

THE GALWAY PACKET-BOAT CONTRACT AND THE POLITICS OF PUBLIC EXPENDITURE IN MID-VICTORIAN IRELAND

2016 ◽  
Vol 59 (3) ◽  
pp. 747-774 ◽  
Author(s):  
DOUGLAS KANTER
Keyword(s):  
Public Finance ◽  
Economic Theory ◽  
Economic Development ◽  
Interest Groups ◽  
Regional Development ◽  
Public Expenditure ◽  
State Intervention ◽  
The State ◽  
British Government

AbstractThis article argues that political considerations, economic theory, attitudes toward public finance, and concerns about regional development all influenced contemporary responses to the Galway packet-boat contract of 1859–64. Though historians have conventionally depicted the dispute over the contract as an episode in Victorian high politics, it maintains that the controversy surrounding the agreement between the Galway Company and the state cannot be understood solely in terms of party manoeuvre at Westminster. In the context of the Union between Britain and Ireland, the Galway contract raised important questions about the role of the British government in fostering Irish economic development through public expenditure. Politicians and opinion-makers adopted a variety of ideologically informed positions when addressing this issue, resulting in diverse approaches to state intervention, often across party lines. While political calculation and pressure from interest groups certainly affected policy, the substantive debate on the contract helped to shape the late Victorian Irish policy of both British parties by clarifying contemporary ideas about the economic functions appropriate to the Union state.

scholarly journals Correlation between Philosophy and Theory of State and Law

2021 ◽  
Vol 39 (5) ◽  
Author(s):  
Oleg Grygor ◽  
Yuri Krysiuk ◽  
Angela Boyko ◽  
Vadim Zubov ◽  
Igor Sinegub
Keyword(s):  
Civil Rights ◽  
Theoretical Aspect ◽  
The State ◽  
Theory And Practice ◽  
Philosophy Of Law ◽  
Depth Study ◽  
History Of ◽  
Theory Of Law ◽  
The Relationship

At first glance, the relationship between philosophy and theory of law is not applied but is considered a purely theoretical aspect. This thesis is not correct due to the adoption of the European legal standard of human and civil rights, the role of philosophy of law, the foundations of the theory of state and law in the training of lawyers, the formation of future lawyers of high philosophical and methodological culture.In this article, based on the analysis of the history of philosophy of law and the general theory of state and law and their development, the authors justify as an autonomous status in the jurisprudence of the two disciplines, their relationship and vice versa - differences.To do this, the authors explored the historical excursion of world philosophical and legal thought, grouped scientific and theoretical views on the relationship between philosophy of law and theory of state and law and provided an argument for the close intersection of philosophy of law and theory of state and law, mobility between scientific disciplines.Close contact between philosophy and jurisprudence contributes to the understanding of law not only as a function of the state but also the essence of human spirituality.The authors concluded that the in-depth study of scientific and theoretical aspects of the relationship between philosophy, philosophy of law and theory of state and law is the result of bridging the gap between theory and practice and will further focus on expanding the interaction of philosophy, theory and law results of the functioning of the state and law.Emphasizing the relevance of the topic in terms of bridging the significant gap between theory and practice, between the declarative provisions of laws and their actual implementation, the legal, scientific community is increasingly expanding to enter the plane of the practical application of philosophical - theoretical thought.

scholarly journals DEFICIENT OF THE STATE BUDGET OF UKRAINE

2019 ◽  
pp. 117-123
Author(s):  
H. V. Sydor ◽  
O. I. Tkachik
Keyword(s):  
The State ◽  
Point Of View ◽  
Economic Science ◽  
Causal Relationships ◽  
State Budget ◽  
Independent State ◽  
Monetary System ◽  
Internet Resources ◽  
Points Of View ◽  
Definition Of

                Purpose. Investigation of essence of deficit of the State Budget from the point of view of existing approaches in economic science.         Methodology of research. The theoretical and methodological basis of the research is the scientific works of domestic and foreign authors on the research of the essence of the deficit of the State Budget of Ukraine, Internet resources. In the process of research used general and special methods, in particular: monographic – in the implementation of the literary review of the problem under study; systemic and structural analysis – in substantiating different approaches and different points of view before interpreting the essence of the State Budget deficit as a complex economic category.        Findings. Generalized theoretical developments of domestic and foreign scientists-economists on the interpretation of the «deficit of the State Budget». At the theoretical level, it has been proved that over the entire period of functioning of Ukraine as an independent state there was an excess of the expenditure part of the State Budget over its revenue. Traced causal relationships, which are important reasons for the appearance of a deficit of the State Budget in Ukraine. The research of those scientists considering the definition of «deficit of the State Budget» from positive and negative sides is considered. It was established that it would assess the financing of the position of the state and the country affecting the budget and tax policy of the balance of payments, the state of the monetary system and the internal order, which allows to identify the deficit of the State Budget.        Originality. It is suggested to trace causal relationships, which are important reasons for the occurrence of the deficit of the State Budget in Ukraine.        Practical value. The obtained research results are the basis for solving practical problems of the correct scientific approach to understanding this concept at the present stage.

The Myth of Judicial Independence

2020 ◽  
Author(s):  
Mike McConville ◽  
Luke Marsh
Keyword(s):  
Separation Of Powers ◽  
Material Point ◽  
The State ◽  
Theory And Practice ◽  
Home Office ◽  
Democratic Polity ◽  
The Individual ◽  
Relationship Of ◽  
The Relationship

This book on the criminal justice system is uniquely positioned to examine judicial claims to independence, the politics of the judiciary, the rule of law, and the role of the executive in the context of a democratic polity. The authors have mined the British government’s archival vaults to assemble records including official (previously classified) Home Office files and present a ground-breaking narrative. By tracking the relationship between senior judges and the Home Office from the end of the nineteenth century to the modern day, revelations concerning the politics of the judiciary and the separation of powers are unearthed. The book argues that the claims of the senior judiciary to be independent of the executive are invalidated by historical records and the theory and practice of the separation of powers (the ‘Westminster Model’) deeply flawed. Rather, at every material point, civil servants compromised the role of the senior judiciary’s decision-making. Moreover, with the passive endorsement of senior judges, the executive repeatedly misled Parliament as to the authorship and provenance of fundamental rules governing the relationship of the individual to the state in relation to police powers of arrest, detention, and questioning. The book also explores the past and continuing impact of all this to former colonial territories and traces the close liaison between key members of the senior judiciary and the state in reconfiguring the modern criminal process in a way which weakens defence lawyers, pressurizes defendants into pleading guilty, and undermines cardinal adversarial protections.

Reforming Natural Monopolies: Theory and Practice

2006 ◽  
pp. 102-121 ◽  
Author(s):  
M. Deryabina
Keyword(s):  
Transition Economies ◽  
Public Private Partnership ◽  
The State ◽  
Natural Monopoly ◽  
Theory And Practice ◽  
Private Partnership ◽  
Theoretical Approaches ◽  
Role Of The State

The article deals with the new theoretical approaches to natural monopoly. It describes essential features of the appropriate branches of economy. The role of the state in the regulation of natural monopolies in the developed and transition economies is also analyzed. The author compares the advantages and shortcomings of various institutional alternatives of organization of natural monopolies functioning as well as the perspectives of public-private partnership in this sphere. Special attention is paid to the analysis of Russian natural monopolies reforms.

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