GLIMPSING AT A NEW GOLD STANDARD

Iulian Oneasca
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Iulian Oneasca: European Institute of Romania, Bucharest, Romania

Journal of Financial and Monetary Economics, 2021, vol. 9, issue 1, 127-131

Abstract: The digital revolution and the explosion of a wide variety of currencies challenge the knowledge, understanding, and regulation of the phenomenon. The article synthesizes the evolution of money in the world, seeking to deepen the approach of its study. In particular, the analysis aims at identifying standards and values as reflected by the evolution of money. The approach goes beyond current practices in highlighting the evolution of society, considering the expenditures and harvesting of socio-human energy, as approximated by prices and the corresponding circuits of money. The analysis emphasizes influences of the market, authority, and technology. The results suggest a spiral evolution in currency production, initially oriented by the principle of self- organization, and then by market forces, social needs, and efficiency. Knowledge, technology and trust mark the new gold standard of future money. Trust has yet to confirm.

Keywords: money; cryptocurrency; socio-human energy (search for similar items in EconPapers)
JEL-codes: F60 O10 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vls:rojfme:v:4:y:2017:i:1:p:127-131

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