An Approach to Currency and Crisis
This work demonstrates how two functions of currency, its measure of value and its role as a means of release from debt, have been weakened. Currency no longer has labor as a visible model, nor can it adhere to exchange, leading to debt and reciprocal obligations. The measure of money is thus lost a...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2015 |
| País: | México |
| Institución: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repositorio: | Problemas del Desarrollo. Revista Latinoamericana de Economía |
| Idioma: | español |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/47839 |
| Acceso en línea: | https://www.probdes.iiec.unam.mx/index.php/pde/article/view/47839 |
| Access Level: | acceso abierto |
| Palabra clave: | Currency monetary history monetary system money theoretical framework moneda historia monetaria sistema monetario dinero marco teórico |
| Sumario: | This work demonstrates how two functions of currency, its measure of value and its role as a means of release from debt, have been weakened. Currency no longer has labor as a visible model, nor can it adhere to exchange, leading to debt and reciprocal obligations. The measure of money is thus lost and its representation of value is altered or no longer exists; it tends to depend on a status determined by its purchasing capacity. This change, which is also related to confidence in and the power of money, consists of disregarding the debt surrounding the currency and exclusively prioritizing the realization of benefits. This phenomenon dates back to the subordination of the major international currency to private interests, which now seem to be the general will. |
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