The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body

The topic of the article is acute due to different factors, on the one hand, it is the 120th anniversary of F. A. Hayek, the Nobel prize winner, who was awarded for a series of works dealing with the theory of private money and on the other hand, it is a controversial standing of the Central Bank wi...

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Autor principal:	Yu. A. Kropin
Formato:	article
Lenguaje:	RU
Publicado:	Plekhanov Russian University of Economics 2020
Materias:	money cash emission neo-liberal school of economic thought the russian school of economic thought Economics as a science HB71-74
Acceso en línea:	https://doaj.org/article/ca7f678065a44f818f100a6257679bba
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id	oai:doaj.org-article:ca7f678065a44f818f100a6257679bba
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spelling	oai:doaj.org-article:ca7f678065a44f818f100a6257679bba2021-11-15T05:20:49ZThe Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body2413-28292587-925110.21686/2413-2829-2020-3-19-26https://doaj.org/article/ca7f678065a44f818f100a6257679bba2020-05-01T00:00:00Zhttps://vest.rea.ru/jour/article/view/865https://doaj.org/toc/2413-2829https://doaj.org/toc/2587-9251The topic of the article is acute due to different factors, on the one hand, it is the 120th anniversary of F. A. Hayek, the Nobel prize winner, who was awarded for a series of works dealing with the theory of private money and on the other hand, it is a controversial standing of the Central Bank within the frames of the current monetary system. Therefore, the research includes two interconnected sections: the theory of private money put forward by F. A. Hayek and the Central Bank as an emission body. The goal of the research is to analyze the theory of private money from the standpoint of the Russian school of economic thought and to show the groundless granting of the emission function to the Central Bank in today’s conditions. The article used methods of analysis and synthesis, deduction and induction, organic sequence and others. The author came to the conclusion that such foundation of cash emission as the Central Bank reputation is groundless and even exceeds the limits of science competence, as it is based on violation of the fundamental law of the material world development, i.e. the law of conversion of matter, energy. The bank reputation cannot be estimated by anything and at the same time it cannot be compared with the volume of cash emission. The status of the Central Bank as an emission body (a bank of banks) should be transformed.Yu. A. KropinPlekhanov Russian University of Economicsarticlemoneycash emissionneo-liberal schoolof economic thoughtthe russian school of economic thoughtEconomics as a scienceHB71-74RUВестник Российского экономического университета имени Г. В. Плеханова, Vol 0, Iss 3, Pp 19-26 (2020)
institution	DOAJ
collection	DOAJ
language	RU
topic	money cash emission neo-liberal school of economic thought the russian school of economic thought Economics as a science HB71-74
spellingShingle	money cash emission neo-liberal school of economic thought the russian school of economic thought Economics as a science HB71-74 Yu. A. Kropin The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
description	The topic of the article is acute due to different factors, on the one hand, it is the 120th anniversary of F. A. Hayek, the Nobel prize winner, who was awarded for a series of works dealing with the theory of private money and on the other hand, it is a controversial standing of the Central Bank within the frames of the current monetary system. Therefore, the research includes two interconnected sections: the theory of private money put forward by F. A. Hayek and the Central Bank as an emission body. The goal of the research is to analyze the theory of private money from the standpoint of the Russian school of economic thought and to show the groundless granting of the emission function to the Central Bank in today’s conditions. The article used methods of analysis and synthesis, deduction and induction, organic sequence and others. The author came to the conclusion that such foundation of cash emission as the Central Bank reputation is groundless and even exceeds the limits of science competence, as it is based on violation of the fundamental law of the material world development, i.e. the law of conversion of matter, energy. The bank reputation cannot be estimated by anything and at the same time it cannot be compared with the volume of cash emission. The status of the Central Bank as an emission body (a bank of banks) should be transformed.
format	article
author	Yu. A. Kropin
author_facet	Yu. A. Kropin
author_sort	Yu. A. Kropin
title	The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
title_short	The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
title_full	The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
title_fullStr	The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
title_full_unstemmed	The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body
title_sort	theory of private money and the problem of positioning the central bank as emission body
publisher	Plekhanov Russian University of Economics
publishDate	2020
url	https://doaj.org/article/ca7f678065a44f818f100a6257679bba
work_keys_str_mv	AT yuakropin thetheoryofprivatemoneyandtheproblemofpositioningthecentralbankasemissionbody AT yuakropin theoryofprivatemoneyandtheproblemofpositioningthecentralbankasemissionbody
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The Theory of Private Money and the Problem of Positioning the Central Bank as Emission Body

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