Skip to main content

Safe Bank

Published: 2018-06-29

Scenarios for the evolution of the International Monetary System in the light of the theories of money

Antoni Chrzonstowski
Section: Problems and Opinions
https://doi.org/10.26354/bb.2.1.70.2018

Abstract

The article analysed three scenarios for the development of the International Monetary System (IMS) in light of the three theories of money – precious metals as money, theory of hitch and modern monetary theory. The most promising scenario in view of effectiveness of the IMS involves the introduction of a separate global currency based on the contractual monetary unit of the International Monetary Fund, which are the Special Drawing Rights – SDR. The value and the stability of the newly introduced world currency cannot derive from the strength of the monetary authorities of any sovereign country. Its strength, however, could be built upon a double hitch: e.g. from the gold standard, which could be subject to periodic change and the economic parity, which would apply to all national economies by introducing of the valuation of carbon dioxide emission limits.

Download files

Citation rules

Chrzonstowski, A. (2018). Scenarios for the evolution of the International Monetary System in the light of the theories of money. Safe Bank, 70(1), 34–51. https://doi.org/10.26354/bb.2.1.70.2018

Cited by / Share

Vol. 70 No. 1 (2018)
Published: 2018-06-29


ISSN: 1429-2939
eISSN: 2544-7068
Ikona DOI 10.26354

Publisher
Bankowy Fundusz Gwarancyjny

-->
This website uses cookies for proper operation, in order to use the portal fully you must accept cookies.