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The koina of pre-Roman Asia Minor, comprising several major organisations along its western and southern coasts like the koina of Athena Ilias, the Lesbians, the Ionians, the Chrysaorians, and the Lykians, present a collection of federal states less well understood than better documented koina in mainland Greece. This paper highlights the regional characteristics of these Anatolian koina by examining their monetary and political economies. It first suggests that federalising behaviour in Hellenistic western Asia Minor tended to be centred on regional sanctuaries and festivals, and less involved in the formation of cohesive political institutions through federal law-making or military mobilisation. This also had the effect that they present the impression of being monetarily ‘light’, as is explained in the second section, because they were not by and large fiscally cohesive, or had close oversight of monetary supply, with the notable exception of the Lykian league – taxation was not hugely intrusive or extensive, and little federal coinage was produced. The last two sections consider this ‘lightness’ as a function of the regional specificities of political and economic power in the region, suggesting that koina functioned parasitically as organisations ensconced between imperial states and civic communities, both reflecting and shaping the dominant role in the region of these two types of polity in the Hellenistic period.

money neutrality; money reactivity; real economy; monetary economy; biomonetarism; sustainability of development through money; monetary flexibility; economic expansion; currency production function; money in socialism; inflation; shortage inflation

In Islam, money is viewed as a means to measure value and a tool for transactions. This study explains other dimensions of money while also examining its use in the interconnected social and religious phases of human life. Since money is perceived differently across cultures, we conducted a literature review to identify dimensions other than the one considered by Western culture. For this purpose, we used scientific articles, book chapters, and books as the primary sources, which allowed us to obtain a complete and coherent description of the phenomenon under study. According to the results, money not only has a transactional dimension that seeks to maximize profit (as it is mainly conceived by Western culture) but also a social and religious dimension. Giving money can be more satisfying than giving in-kind. In Islam, the money collected is freely spent based on individual needs. In addition, money (dinar and dirham) serves to measure pious deeds when employed as a unit of account in zakat and qurban, as well as in inheritances. In Islam, a proper management of monetary assets can help to link the social and religious dimensions in a coherent manner.

There are several real‐world examples of local governments that faced with budget problems circulate a fiat token in parallel to the official currency. A well‐known case is the Argentinian "Patacon," printed by the province of Buenos Aires during the crisis of 2001. We present a simple model to analyze the workings of monetary equilibria where the parallel currency is valued in equilibrium and discuss its consequence for real allocations in terms of an equivalent fiscal policy. We briefly discuss different model specifications and their fit to alternative historic experiences. [ABSTRACT FROM AUTHOR]

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The article is based on the results of the 7th International Scientific and Practical Conference on Economics “The Market Economy Phenomenon: From the Origins into Our Days” held from March 27 to March 31, 2019 in the cities of Sochi and Sukhumi. The theoretical approaches of domestic and foreign researchers to understanding the market economy phenomenon, the specifics of its financial and credit sphere functioning in the context of the digital economy were generalized. The problems of the monetary economy in terms of the sanction confrontation were outlined. The authors analyzed and evaluated the processes and the phenomena observed in the post-Soviet economic space related to the transplantation of market economy mechanisms into the system of social reproductive relations, including its financial component based on their digitalization. The dialectic approach, system analysis, methods of economic and statistical and interdisciplinary analytical tools were used. The article revealed the key components of the market economy phenomenon appearing in the post-Soviet economic space and having a direct impact on the social reproduction results. The relationship was shown between the transformation of the evolutionary and methodological content of the money economy, its institutional and behavioral paradigm, the digitalization of the financial segment of the economic space with the scale of innovation, the penetration of cognitive psychology and neurophysiology into financial and credit relations, and their technological re-equipment. The results of the influence of instability factors on the budget and monetary sphere were presented. The authors described complex interdependencies of the processes and phenomena within the framework of the market economy phenomenon appearing in the post-Soviet economic space. The triune structure of the modern market doctrine was disclosed including psychological and behavioral, institutional and functional and reproduction and product aspects. The authors showed the transformational dynamics of the financial and credit sphere of modern society. Its specific features are: the increasingly important role of innovation, outsourcing, revising pricing methods, digitalization of business processes, penetration into managing neuromarketing technologies, and virtualization of the financial sector of the economy.

Resumo O artigo retoma a contribuição de Richard Cantillon à ciência econômica no século XVIII. Apesar de distante no tempo, o arcabouço analítico do autor proporciona reflexões importantes acerca dos fenômenos monetários contemporâneos. Um dos elementos mais significativos é a consideração do ponto de injeção da moeda na economia, permitindo uma compreensão minimamente adequada da relação entre os chamados lados monetário e real da economia. Cantillon já fazia, portanto, uma crítica ao postulado quantitativista, o qual estabelecia uma relação de proporcionalidade entre moeda e preços. Como consequência de sua análise, fica claro que o aumento da quantidade de moeda gera efeitos reais duradouros na economia.

Copyright of Al-Dananeer is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Archeologia Medievale: Cultura Materiale, Insediamenti, Territorio is the property of All'Insegna del Giglio s.a.s. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The debate over theories of the nature of money has recently been revisited in this Journal. This paper shifts the focus from the stuff that is being positioned as money to the social totality. Credit theorists claim that commodity theories of money imply monetary neutrality and a primacy of real analysis. In contrast, this paper argues based on Marx and Smith that, independently of whether money is a commodity or credit, the necessity of money depends on the constitution of the economy in terms of the relation between production and circulation. If social production is constituted through the exchange between private specialised producers, money is not neutral but essential. For Smith, real analysis is nevertheless meaningful, in that, he treats the spheres of exchange and production separately. By contrast, Marx exposes real analysis as commodity fetishism and stresses the mutually constitutive social relations between money, commodity exchange and capitalist production. [ABSTRACT FROM AUTHOR]

In nature, energy has a very significant role in meeting human needs. Similarly, money has the same significance for the economy. In nature, energy is obtained either from energy or from substances. However, in the course of energy transforming into energy, leakeage loss happens. In other words, the amount of energy output is not the same as the amount of energy input. In fact, substances produce more energy. In this context, we can say similar things for the money which is the energy of the economy. When financiers with more income in today’s economy try to maximize their profits, they either put out their money at interest or they invest their money in production. Therefore, these preferences have some personal and economical pros and cons. In this study by means of comparing energy with money, it was aimed to emphasize that economically, activities based upon natural productions are more efficient and superior than the activities based upon monetary movements.

This article examines Georg Simmel's contribution to the understanding of how money functions in modern society, mainly scrutinizing his most important work on that topic, The Philosophy of Money, in the context of modernization theories. Modernization theories, as developed (most notably) by Marx, Weber, Durkheim, and Elias, attempted to explain the transition from feudalism and a closed agrarian economy to capitalism and industrial society, as well as to understand and predict the avenues, consequences, and dangers of that transformation. The author argues that Simmel's work and his theoretical framework fit neatly into the "modernization paradigm" template and, in fact, constitute one of its finest articulations. The conclusion points at those aspects of Simmel's sociology that transcend the boundaries of modernization discourse and make him a forerunner of the postmodernist structure of "feeling." [ABSTRACT FROM AUTHOR]

Economic output is placed at the heart of the macroeconomics. To calculate the output one needs to achieve simplifying a high level complexity of economic relationships to form a system. On the flip side, the model should be enough elaborated to be able to reflect the important relationships. In this manner, the classical macroeconomic identity as Keynes suggested is simple enough to understand the main elements but it does not show the financial parts of transactions. Not having the monetary part of the economy it lacks the coherence. With the financial and economic crises getting more frequent, more endeavour to build a more inclusive and coherent macroeconomic system has been observed. However, there are large variety in different options of simplifying and simulating complex relationships among the real and monetary part of the modern economies. Our paper tries to set an analysis comparing some of the recent prominent ideas in building balance sheet and transaction flow matrix in regard to macroeconomic accounting system. We can conclude the new achievement of including the monetary transactions in the frame causes a compromise from the simplicity for a coherent and more complete picture of macro economy.

Is fostering economic growth ‘only’ a question of political will or ‘unavoidable’ to maintain economic stability? It is disputed whether such a ‘growth imperative’ is located within the current monetary system, creating conflicts with sustainability. To examine the claim that compound interest compels economies to grow, we present five post-Keynesian models and show how to perform a stability analysis in the parameter space. A stationary state with zero net saving and investment can be reached with positive interest rates, if the parameter ‘consumption out of wealth’ is above a threshold that rises with the interest rate. The other claim that retained profits from the interest revenues of banks create an imperative is based on circuitist models that we consider refutable. Their accounting is inconsistent, and a modeling assumption central for a growth imperative is not underpinned theoretically: Bank's equity capital has to increase even if debt does not. This is a discrepancy between the authors' intentions in their texts and their actual models. We conclude that a monetary system based on interest-bearing debt-money with private banks does not lead to an ‘inherent’ growth imperative. If the stationary state is unstable, it is caused by agents' decisions, not by structural inevitableness. [ABSTRACT FROM AUTHOR]