Money and currency within the context of social development in the territory of Slovakia

Abstract

The term money currently refers to various modifications of the money forms, which historically have undergone their process of development. Applying the analytical, comparative, and historical method, the present article aims to identify the essential developmental aspects of the institution of money (term's content, functions, role, appearance/forms, interactions, legal aspects) in the context of their operation in the economic system with a pro futuro view focusing on the territory of Slovakia. The authors studied and analysed information from domestic and foreign sources, paying particular attention to the historical development of the form of money and currency formation predominantly in Slovakia. The authors conclude that today's money has lost its historical fundamental economic properties and raise the question whether it is only its other dimensions (psychological, political, technological, and others) that have prevailed.