Private Non-Bank Money – a Way for Theorizing CCS

Toncheva, Rossitsa (2024): Private Non-Bank Money – a Way for Theorizing CCS.

Abstract

Money, as the quantitative representative of almost everything, decently occupies the central position in the distribution mechanism and as an instrument for imposing order. At the stage where global solutions are sought to adapt the orthodox monetary system to the current productive forces, many opportunities are being opened for testing new forms of social models, as one could also call that of "private non-bank money". The term "private non-bank money" is a conceptual successor to the term of "barter money" . Both are formal, synthetic words created as a tool to get better sense of the pretty wide variety of monetary experiments with complementary currency systems (ССS), not only as practical cases but also as theoretical interpretations. The use of new term partly solves not only the above limitation, but also the confusion resulting from the fact that "money" and "currency" are often perceived as synonymous. "Money" is defined and perceived with too wide a scope, which can even give rise to a cognitive fallacy. Regardless of the predominantly social characteristics of ССS, all of them, except for the time banks, have a powerful financial feature, and it is the monetary instrument that places them also in the field of monetary theory. The search for a common distinguishing property of the CCS has led to the need to include a new concept, by which the difficulty is largely removed. The concept of "private non-bank money" is instrumental, and as such it represents a relatively more limited notion of money - as a specific form of it, suitable for understanding the meaning, content and significance of the relations that have been created in the various models of CCS.

• Item Type: MPRA Paper
• Language: English
• Keywords: Private Non-bank Money, Distribution, Money, complementary currency
• Subjects: E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E40 - General; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E50 - General; G - Financial Economics > G2 - Financial Institutions and Services; P - Economic Systems > P4 - Other Economic Systems > P40 - General

References

Blanc, J. (2011) ‘Classifying ‘CCs’: Community, Complementary and Local Currencies’ International Journal of Community Currency Research 15 (D) 4-10 <www.ijccr.net> ISSN 13259547 http://dx.doi.org/10.15133/j.ijccr.2011.013;

Martignoni (2023) ‘Ideas for debate. Elementary monetary concepts and ideas. Part 2: Money is not a medium of exchange’ INTERNATIONAL JOURNAL OF COMMUNITY CURRENCY RESEARCH – VOLUME 27 (2023); http://www.ijccr.net; ISSN 1325-9547; DOI – http://dx.doi.org/10.15133/j.ijccr.2023-005;

Toncheva, R., (2014) ‘Barterni pari – aktualno predizvikatelstvo pred teoriyata, biznesa i darzhavnoto upravlenie, Sbornik dokladi i diskusii ot 6-ta natsionalna nauchna konferentsiya s mezhdunarodno uchastie za doktoranti „Ikonomicheski i sotsialni predizvikatelstva pred darzhavnoto upravlenie i biznesa“, UNSS, 24 april, t.6/2014, s. 153-166’