Implications for Money Mechanics

Armen V. Papazian ()
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Armen V. Papazian: University of Cambridge

Chapter Chapter 5 in Hardwiring Sustainability into Financial Mathematics, 2023, pp 115-136 from Springer

Abstract: Abstract This chapter discusses the implications of adopting the space value framework for money mechanics. While hardwiring sustainability into financial mathematics based on the space value of money principle and ensuing equations will require a comprehensive reassessment of instruments and transactions used by money creators, i.e., central and commercial banks, this chapter focuses on the broader systemic considerations given our debt-based monetary architecture. It discusses three major limitations of debt-based money, calendar time, monetary gravity, and monetary hunger, and offers a new money creation logic based on space value creation. It proposes Value Easing through Public Capitalisation Notes as a transactional approach that can also facilitate the funding of the many trillions of dollars needed for the transition to a Net Zero sustainable economy.

Keywords: Sustainability; Financial Mathematics; Money; Value; Risk; Time; Space; Impact (search for similar items in EconPapers)
JEL-codes: E00 E58 G00 G30 Q51 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-45689-3_5

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DOI: 10.1007/978-3-031-45689-3_5

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