Oleksandr SHAROV


This article is devoted to the monetary globalization – it is a concept that was at first designed and introduced in academician use by the author in the previous article (Journal of European Economy, vol. 19, No. 3, 2020, pp. 395–408). While the first article considered its geoeconomic aspects – namely the geographical spreading and universalization of the monetary relations, this article focuses on historiosophical aspects – that is, understanding the patterns of development of monetary relations in the context of their globalization. It is emphasized that the emergence of money occurred near simultaneously in different civilizations and the European model was not predestined to become a standard for the world monetary system, but its superiority was ensured in the complex centuries-old globalization process. This concerned not only the formation and spread of monetary relations in the world, but also their universalization, which played a very important role in economic globalization. In this regard, the author points to the role of the state, especially in the last stages of globalization, starting with the formation of the gold standard in the 19th century and ending with the introduction of the Bretton-Woods monetary system and modern processes of its modernization.

JEL: E42, E52, F59, N20.

Ключові слова

Central banks; chrimatogenes; destuffing of money; globalization; monetary relations; monometallic standard

Повний текст:



Butorina, O.V. (2016). On Origin of Money [In Russian]. Contemporary Europe, 3, 124-135.

Capie, F., Fischer, S., Goodhart, Ch., & Schnadt, N. (1994). The development of central banking. In F. Capie, S. Fischer, Ch. Goodhart, & N. Schnadt (Eds.), The future of central banking: The tercentenary symposium of the Bank of England (pp. 1-112). Cambridge University Press. https://doi.org/10.1017/CBO9780511983696.002

Chorafas, D. N. (1982). Money--the Banks of the'80s. Petrocelli Books.

Ferguson, N. (2002). The cash nexus: Money and power in the modern world, 1700-2000. Basic Books.

Fogel, R. W. (n.d.). Biographical. Nobel Prize Outreach. https://www.nobelprize.org/prizes/economic-sciences/1993/fogel/biographical/

Frishberg, H. (2016). The origins of the credit card trace back to a flatbush bank.

Brownstoner. https://www.brownstoner.com/history/bank-credit-card-brooklynflatbush-national-bank-history/

Giddens, A. A. (1984). Contemporary critique of historical materialism. Vol.2, the nation state and violence. Polity Press.

Graziani, A. (1913). Economists of the sixteenth and seventeenth centuries [in Italian]. Gius, Laterza & Figli. https://archive.org/stream/economistidelcin00grazuoft#page/378/mode/2up

Hedlund, S. (2006). Vladimir the great, Grand Prince of Muscovy: Resurrecting the Russian service state. Europe-Asia Studies, 58(5), 775-801. https://doi.org/10.1080/09668130600732175

Herodotus. (1993). Histories (A. Biletskyi, Trans.) (Vol. 4) [in Ukrainian]. Naukova dumka. (Original work published ca. 430 BCE)

Jessop, B. (2019). The State: Past, present, future [in Russian]. Delo.

Khan, A. (1998). The evolution of money: A story of constitutional nullification. University of Cincinnati Law Review, 67: 393.

Kobylin, I. (2020). Details of the explosion: semiotics, synergy and the "oeconomics" of history [in Russian]. Neprikosnovennyi zapas, 1, 97-110.

Kurke, L. (1995). Herodotus and the Language of Metals. Helios, 22(1), 26-64.

Mundell, R. (2002). The Birth of Coinage. Department of Economics Discussion Papers, 0102-08. Columbia University.

Noonan, T. S. (1987). The monetary history of Kiev in the pre-Mongol period. Harvard Ukrainian Studies, 11(3/4), 384-443.

North, D. C. (n.d.). Biographical. Nobel Prize Outreach. https://www.nobelprize.org/prizes/economic-sciences/1993/north/biographical/

North, D. C., Wallis, J. J., & Weingast, B. R. (2009). Violence and social orders: A conceptual framework for interpreting recorded human history. Cambridge University Press. https://doi.org/10.1017/CBO9780511575839

Rius, J. (1998). Advance of Modern Ideas [in Ukrainian]. Osnovy.

Rueff, J. (1972). The monetary sin of the West. Macmillan Company.

Schaps, D. (2010). The invention of coinage and the monetization of ancient Greece. University of Michigan Press.

Sharov, A. N. (1986). Development of the banking technology [In Russian]. SSHA: ekonomika, politika, ideologiya, 9, 85-92.

Skorobagatov, S. A. (2018). The society as a treaty between the strong and the weak. Essays on the economics of history [in Russian]. VShE.

Tymoigne, É., & Wray, L. R. (2007). Money: An alternative story. In Ph. Arestis & M. (Eds.), A handbook of alternative monetary economics (pp. 1-16). Edward Elgar Publishing. https://doi.org/10.4337/9781847202802.00006

Wray, R. L. (2012). Introduction to an alternative history of money. Working Paper No. 717. Levy Economics Institute of Bard College. https://doi.org/10.2139/ssrn.2050427

Wray, L. R. (2015). Modern money theory: A primer on macroeconomics for sovereign monetary systems. Springer.

Zaostrovtsev, A. (2019). On strong and weak in the economics of history. Contemplation on the book [in Russian]. Social Sciences and Contemporary World, 4, 99-108. https://doi.org/10.31857/S086904990005818-1

DOI: https://doi.org/10.35774/jee2021.01.004


  • Поки немає зовнішніх посилань.