Evolutionary aspects of the development of forms and types of money

Abstract

The article considers the evolutionary aspects of the emergence and change of types and forms of money. It is noted that the process of development of material carriers of universal equivalent value should be considered taking into account the provisions of the theory of carriers as a new philosophical system of views. The basic postulates of the philosophy of carriers are formulated, which explain the reasons for the change in the forms of money and their properties in the history of human development. It is emphasised that the type of money is the result of its distribution, taking into account the socio-economic nature of money itself. The author's interpretation of the form of money as an external expression (embodiment) of a specific type of money in accordance with the functions it performs is presented. The interconnection between types and forms of money is shown. Commodity and metal money are characterised. It is noted that the purchasing power of commodity money depended on the value of the commodity itself, which was a universal equivalent. The purchasing power of metallic money was based on the value of the monetary metal from which it was made. Three main stages in the history of the emergence of metallic money are identified. The special position occupied by metallic money is emphasised – it was a kind of connecting link between primitive and modern money. It is noted that paper money, as a form of currency, has compulsory purchasing power and is issued by the state to meet budgetary needs regardless of the needs of commodity circulation. The emergence of credit money is associated with the development of credit relations and banking. It is noted that credit money has no intrinsic value, and its purchasing power is also determined by its representative value. The different patterns of circulation of paper and credit money are outlined. The study of the evolution of types and forms of money has made it possible to assess the complementary role of socio-economic and technological conditions in changing the material carriers of the universal equivalent in the history of human economic activity.