Concept Of Money Research Articles

Money is a right: Alfred Lansburgh’s Token Theory of Money

Alfred Lansburgh was a leading publicist on money in Germany during the Weimar Republic. He developed a Token Theory of Money, a nominalistic monetary theory with an endogenous quantity of money but warns of the danger of misuse. Only therefore, he combines his understanding of money as a right—as a legal claim on goods and services—with a metallistic conception of gold money. Lansburgh was misunderstood during his time, and he remains so until today. He was often described as an “orthodox gold money theorist,” but he was a passionate “token money theorist,” with many similarities e.g. to Joseph Schumpeter.

Concept of Blood Money in Islamic Law and its Social Impact

Concept of Blood Money in Islamic Law and its Social Impact

Financial Literacy Among Millennials

Financial literacy aids the investor in devising rational financial decisions which in turn provides financial stability to an individual and has emerged as a key to economic development in this rapidly changing financial and investing landscape. A financially illiterate person will make poor financial and investment choices which will have a detrimental effect on their financial wellbeing. The present study aims at assessing the level of basic and advanced financial literacy as well as its association with the demographic profile of millennial investors in the Delhi-NCR Region. A Chi-square test was used to analyse the data collected for the study. The findings revealed that millennials' financial literacy is low and they have poor knowledge about the time value of the money concept and find bond prices by the interest rate concept hard to comprehend. The study concludes that financial illiteracy is acute in females. The common belief that higher education qualification is an indicator of higher financial literacy holds for the study. The millennials with a lower level of income have a lower level of basic and advanced financial literacy. These conclusions were found to be statistically significant. This paper fills the research gap of millennials' financial literacy in India.

CONTRIBUTION OF ALTERNATIVE THEORIES OF MONEY TO THE CREATION OF A MODEL OF THE MONETARY SYSTEM IN RUSSIA (LATE XIX — EARLY XX CENTURY)

The economic and political instability of the present time in the world, being a reflection of the complex process of transition to new post-industrial technologies, increases instability in the sphere of monetary relations. The article aims to investigate the conceptual differences that contributed to the formation of alternative approaches in the theory of money at the turn of the XIX–XX centuries during the discussion of the prospects for the transition to credit circulation in extreme economic conditions. Attention is drawn to the fact that the problem of choosing a model of the monetary system, metallic or monetary, becomes the most urgent during the transformation of the economy.
 
 The article provides a comparative analysis of the key provisions of the nominalist, quantitative, credit and conjunctural theories of money, their conceptual differences in understanding the nature, functions of banknotes and their role in price formation. The features of the conjunctural theory of money that distinguish it from the provisions of alternative concepts, market and state mechanisms for regulating money turnover are clarified. Algorithms for the formation of the general level of money prices in the conjunctural theory of money by M.I. Tugan-Baranovsky are considered. It is shown that the concept of nominalism, which expresses the interests of the state, justifies the need to use paper banknotes as the most effective financial resource of the government in emergency economic situations and the demonetization of gold.
 
 The proposals of the leaders of the modern theory of money concerning the forced issue of "sovereign currency", weakening the national currencies of other countries, are analyzed. It is shown that the incorrect interpretation of the categories of government bonds and national currency by the leaders of the modern theory of money in comparison with the classical provisions narrows the field of scientific analysis, leads to a confusion of the concepts of state interest-bearing and interest-free domestic debt, and destabilization of the monetary and economic system as a whole.
 
 The contribution of alternative concepts of money to the creation of a theoretical model and structure of the Russian state monetary system of the early twentieth century is shown. It is concluded that during periods of acute shortage of budgetary resources, there is a revival of the arguments of the nominalist theory of money in new economic conditions.

Value for money in transport infrastructure investment: An enhanced model for better procurement decisions

This paper addresses the nebulous value for money (VfM) concept and its widely-criticised use in justifying the adoption of Public-Private Partnerships (PPPs) for transport infrastructure projects. It draws on the theories of value and identifies that value is generated in the interaction of the supply side (i.e., governments - as project sponsors and part of infrastructure delivery partnerships) and the demand side (i.e., end-users). In this sense, ‘public’ participation in transport is highlighted in the proposed framework to demonstrate that it is the combination of ‘traditional’ and ‘public’ VfM that together create a more meaningful VfM concept. To underpin the application of the framework, a dynamic VfM assessment process is developed that can facilitate the appropriate selection of a procurement method and assess its VfM throughout the project lifecycle. Unlike current examples, the framework is designed for both PPPs and their alternatives (e.g., conventional public sector procurement) and aligns ex-ante and ex-post VfM assessment. The enhanced model creates an opportunity for governments to recognise public VfM in transport interventions, shift their mindset from singular to multi-dimensional evaluation, and start to actually accumulate and exploit experience from past projects. As such, the contribution of this paper is twofold: (1) drawing upon theories of value, it depicts the ontology of VfM and addresses a missing ingredient in VfM assessment; and (2) it develops a holistic framework for the public sector to re-calibrate their VfM assessment policy when procuring transport projects.

CHALLENGES OF TEACHING PRE-SCHOOLERS ABOUT MONEY

The article reveals the importance and role of teaching children about money; interrelation of spiritual and moral education, development of economic culture and formation of mathematical conceptions by studying this topic. The concepts of money that children of senior pre-school age already have as a part of economic education are one of the most important aspect of economic socialization of the child, a purposeful process of interaction of adult and child, which provides for formation of child’s interest to economic area of life, mastering elementary economic concepts, acquiring elementary skills required for orientation and existing in the modern market world.

«Давайте думать, и все четверо…» (рассуждение как лингвопедагогический прием и элемент поэтики в повести Л.А. Ярцовой «Неистощимый кошелек»)

Heated debates about the methods of teaching children their native language, about understanding the differences between the types of texts as a mechanism and a product of mental activity were inextricably linked with the deep transformation of Russian society in the second half of the 19th century. A significant strengthening of monetary and financial relations in a changing society, and, as a result, the penetration of money into family communication became an urgent educational issue for children’s literature. L.A. Yartsova in her story “The Inexhaustible Purse” (1861) innovatively revealed the theme of money in the life of a child, using the functional-semantic type of speech “reasoning”. Different types of reasoning (refutation, inference, confirmation, justification) are used in the story as a tool of poetics and didactics. The story is structured as a cycle of meaningfully unrelated stories-reasoning, in which a mother and her three children of different ages independently seek rational-logical and lexical-syntactic arguments to reveal the metaphor-task “inexhaustible purse”. The linguo-didactic aspect of Yartsova’s story lies in the fact that in the process of writing stories-reasoning (the function of writing in literature lessons), children master the method of constructing reasoning and linguistic forms for its implementation (educational-target function). The stories represent a gradational-hierarchical ascent to the concept of money: from the limited by age and personality (the reasoning of children) to the socially significant, synthesized in the reasoning of the mother. Yartsova’s use of reasoning as a way of constructing a children’s story testifies to the penetration in the 19th century of elements of scientific speech into other speech systems, including the language of children’s fiction.

Conception of Money in Islamic Economic Dimension

Money is seen not only as a legal tender (legal tender) but also seen as a commodity, money has two possibilities, namely the possibility leads to the good thing and the possibility leads to the bad thing. Both depend on the person using it. Money continues to innovate and evolve from cash to non-cash or electronic money. The emergence of crypto currencies raises pros and cons in various circles. This study aims to explain the concept of money from an Islamic perspective by analyzing crypto currencies as virtual currency. The writing method used is qualitative research using a literature review. The data taken are secondary data and data collection techniques using documentation and library studies. The results of this study explain that in Islamic economics currency must have underlying assets recognized by the government to avoid "money to money" transactions, while crypto currencies do not have underlying assets and no one is responsible.

The Role of Custom in Defining Money and Cash in Islamic Law

Islam did not come to deny people's customs and destroy their traditions and heritage, but came to improve them and distinguish between malicious and the good, and eliminates what is contrary sharia, and proves what agrees with them, so people's customs became considered in Islamic law, and is a source of legislation, and many of the provisions of sharia are due to custom, especially when there is a conflict and difference. Money and cash may be considered a doctrinal issue based on custom, and after consideration and research it has been found that there are significant customs in matters of money and criticism that jurists have built doctrinal issues on, and there are null customs that cannot be relied upon. Custom plays an important role in determining what money and cash are, since custom is changing as well as what it has relied on will change, so we see that the concept of money and cash has changed differently than before, everything that existed before. State officials have issued papers, minerals or what people have come to know as money, and the word cash in our time is more comprehensive than it used to be.

Pushing the Boundaries: A Tentative Taxonomy of Money in New Zealand Private Law

This article seeks to define the boundaries of money in the context of proprietary taxonomy in New Zealand. It suggests that the traditional legal concept of money exclusively based on state issued (fiat) currency is dated, as does not accommodate the near-universal use of bank money in commercial transactions, nor the recent technological changes introduced by virtual currencies. As long as something functions as a means of payment and the holder has the right to exchange it for legal tender, the divide between mutually agreed payment obligations into those made on the base of fiat currencies and those not, becomes artificial. In providing responses to similar commercial arrangements and parties' legitimate expectations, not only coins and banknotes, but also balances held by customers in banking institutions, foreign money, and digital currencies, should qualify as money for private law purposes.

Accounting of Cryptocurrency

With the development of technology today, the concept of crypto money emerged in 2008. With this development, cryptocurrencies began to be considered indispensable concepts. Thus, countries were expected to take steps in terms of their accounting. While some countries have taken concrete steps in accounting and taxation, some have not yet taken steps. In this study, brief information about cryptocurrencies was given and current developments were explained. Several suggestions have been made for countries that have not yet completed their work in this regard, and why cryptocurrencies should be taxed is mentioned. In addition, by examining the IASB and IFRS recommendations, it was evaluated which asset class cryptocurrencies could enter. With these evaluations, it has been suggested in which asset class cryptocurrencies can be accepted for Turkey and the countries that have not completed their work.

IoT Piggy Bank for Money Saving Habit Instillation

Children nowadays are overwhelming with luxurious things and have only little or even no money concepts where most of the kids just reach out to their parents for buying anything they want. This could be an issue for parents, hence kids should be taught the value of money and knowing that save their own money is important to purchase anything they desired. This project proposed an innovative way to inculcate saving behaviours in children using an IoT Piggy Bank. This goal-directed approach allows children to set their saving goals (values of their desired items) and form a saving habit slowly through their saving routines toward their saving goals. Every saving made by the children will be tracked in a mobile app and a buzzer will be triggered as a reinforcer to alert children when they do not save regularly. The user acceptance testing (UAT) of the proposed prototype has shown the majority of the parents (90%) agreed that the proposed IoT piggy bank is very suitable for children to instil saving habit. Most of the children have reacted positively where they were having lots of fun when trying on the IoT piggy bank and expressed that they would continue to use it for saving in the future.

Completeness of Shopping Skills Media Features for Students with Mental Retardation at Special Junior High School: A Literature Review

The students with mental retardation ability in the shopping skills show that students are still not able to do it well. Several factors cause the inability of students with mental retardation in shopping skills, namely: students do not understand the concept of money, are often confused about arithmetic operations on money material, cheap and expensive concepts, and shopping activities. This study uses a systematic literature review method from articles that have been published and a descriptive method that aims to determine the variety of shopping skills media and the completeness of features that must exist in shopping skills media for students with mental retardation. The research results obtained from several studies on shopping skills media for students with mental retardation are relevant. It can be seen that there is still minimal development of shopping skills media. Another result is that using several types of shopping skills learning media can improve the shopping ability of students with mental retardation from the material aspect. From theory to practical aspects, they are iPad-based animated image and video media.

A Field Study for Sustainable Community Empowerment through Appropriate Technology of Water Purification and the Concept of Feces Standard Money in Hatphain Village, Lao PDR

The application of appropriate technologies in a developing country is an opportunity to introduce green technology which may lead people to imagine a better life. This point is at the intersection of appropriate technology and sustainable development. This research focuses on Hatphain village where there is no clean water, sewage system, or power lines. Two environmental technologies (an unpowered water purification system, Ongdalsaem and an eco-toilet system, BeeVi toilet) were introduced, based on the concepts of the environmental self- sustainable village and feces Standard Money (fSM). We found that the Ongdalsaem was effective in reducing the concentration of nitrogen and lead in the water in Hatphain. The BeeVi water-free toilet was installed, allowing urine and feces to be separated and used as compost. We strived to spread ideas of sustainability using new eco-circulation experiences and encouraging learning about environmental technology through practical and playing facilities that residents managed themselves.

United Kingdom Anti-crisis Alternative.

The article deals with the factors that ensure the sustainability of the reproduction of the British socio-economic model in the long term. Some features of the conceptual role of the UK in the formation of the global world order were studied. The impact of the COVID-19 on the economy of the United Kingdom was shown and the reasons for the deepest decline in production in the history of the country were summarized. The factors of chronic decline in productivity on the British labor market and strategic approaches to solving this problem were presented. Some provisions of the Trade and Cooperation Agreement between the UK and the European Union are discussed. The concept of sovereign money is analyzed as a possible response of British economic experts to the challenges of modern crises.

The Role of Technology in Financial Inclusion-A Case Study Mobile Money Penetration in Ghana

With the flagship success of M-Pesa, mobile devices have become an important tool to facilitate the financial inclusion of the previously unbanked population in developing countries. Following the success of M-Pesa in Kenya in 2007, mobile money technologies became widespread across Africa. Beginning in 2009, Ghana experienced exceptional adoption of Mobile Money technology. Many studies have examined the influence of mobile money on financial inclusion from a variety of perspectives, and many have concluded that mobile money is a game-changer in this regard. The Mobile Money concept has evolved based on introducing the other value-added services such as microloans, savings, and insurance portfolios. The researcher used a questionnaire and a face-to-face interview to obtain qualitative data for this study. Together with other research, the statistics revealed that Mobile Money transactions in Ghana had more than tripled since it became the most popular payment method. Over the last year, the platform as a service has created over 140,000 jobs and has shown to be the safest channel. It has several advantages, including lowering the cost of printing and keeping cash on hand, as well as decreasing fraud because the technology underlying it gives appropriate audit trails to prevent fraud and boost economic growth.

About alternative concepts of money in Russia (to the 160th anniversary of the birth of A.A. Manuylov). Materials for lectures and seminars

This article examines the scientific ideas about the substantial value of coins, paper and monetary signs of circulation in the Russian economic theory in the second half of the XIX — early XX centuries. The critical re-evaluation of foreign concepts contributed to a deep study of the concept of value, nature and functional role of banknotes in the national economy. The factors regulating the value of banknotes and the key criteria of the new model of elastic monetary circulation are considered. The concepts of Russian economists (A.N. Miklashevsky, A.A. Manuylov, L.V. Fedorovich, M.I. Tugan-Baranovsky, P.A. Nikolsky, N.I. Sieber, and many others) reveal the laws of pricing that affect the value of money. It is suggested that money is «an integral part of the developed social division of labor». In this context, we study the process of forming a systematic understanding of the relationship between different market segments and the state monetary economy, which revealed the specific role of money as an instrument that unites individual markets.
 
 It is concluded that, first, in the course of a critical analysis of the concepts of money and the development of the principles of reforming the monetary system in the Russian literature, the foundations of a macroeconomic understanding of the market economy were laid. The semantic «content» of the concept of «conjuncture» indicated an increased interest in macroeconomic research. Second, the development of the theory of the value of money and to elucidate their role in economic conditions contributed to the opening of several new, «frontier» of economic topics, including the theory of industrial crises and characteristics of the circulation of banknotes in extreme conditions at the beginning of the XX century.
 
 The fundamental economic concepts of value, price and money are still the «platform» of the most acute theoretical discussions, in which arguments in favor of the interests of traditional market actors, entrepreneurs and the state, are supplemented by the motives of transnational institutions. Knowledge of the theories of the value of money sheds light on the effectiveness of tools for regulating market conditions. The model of monetary circulation as an effective tool for regulating budget deficits and industrial activity during the crisis (with the help of the State Bank`s commercial portfolio) was the experience of the circulation of maternity money in the twentieth century. Familiarity with the positions of leading scientists gives an idea of alternative approaches in the interpretation of value (classical school, Marxism), or value (German historical school, marginalism, nominalism), creates a solid basis for analyzing the features of the domestic monetary system and attempts to reform it at the present time.
 
 A retrospective analysis of the theories of the value of money will help to form a clear understanding of the peculiarities of domestic monetary policy, to find out its role in the development of crises, inflation and «lack of money». The article, addressed to teachers of economic theory and the history of economic studies, graduate students, students, and anyone interested in the theory and practice of monetary circulation, attempts to «reveal» the secrets of the economic analysis of value — one of the key problems of economic science.

Social Ties and Money Priming in Bargaining Games and the Prisoner‘s Dilemma

The authors examine the effects of money priming and solidarity on individual behavior in three simple games: dictator, ultimatum, and prisoner's dilemma game. In three consecutive experiments, they use two different money treatments and two neutral (control) treatments. Additionally, they vary the strength of social ties between participants by conducting experiments with students from a military university and a regular university. Although the priming procedure is sufficient to remind people of the concept of money, it is not sufficient to induce systematically different behavior of the treatment groups compared to the control groups. They find significant differences between groups with strong and weak social ties, even without activating the idea of group affiliation. They discuss various explanations of why the results seem to contradict previous research on money priming.

A SET ASPECT OF PAPER MONEY: A Reading on Ahmad Khatib Al-Minangkabawi's Thought

This article aims to identify Sheikh Ahmad Khatib Al-Minangkabauwi's initial concept of Paper Money, which in the early 19th century wrote Raf'ul Iltibas. Through a qualitative approach, with critical extraction analysis, several things can be revealed related to the thoughts of Sheikh Ahmad Khatib Al-Minangkabauwi about paper money. From a careful reading of Sheikh Ahmad Khatib Al-Minangkabauwi, several significant findings can be formulated: First, in his work, Ahmad Khatib Al-Minangkabauwi applies two methods lead to his critical thinking about Paper money, namely the comparative law method and Qiyas. Second, Sheikh Ahmad Khatib believes that paper money has similarities with dinars and dirhams in several aspects, namely the function of its nominal value. It is just that the existence of these values is different. The value of paper money is politico-economic. Meanwhile, the nominal value of dirhams and dinars is intrinsic and natural. Sheikh Ahmad Khatib Al-Minangkabau's work related to Paper Money is written heavily from the perspective of fiqh. Briefly, it is challenging to describe economic assumptions from work. As a result, articles are also thicker with fiqh analysis. Sheikh Ahmad Khatib Al-Minangkabauwi's view regarding Paper Money becomes the foundation for the theory of the value of money in Islam. However, it is rarely disclosed, so that this paper can serve as the foundation of the value for money offered by scholars from Indonesia in the early 19th century. Strengthening the idea that money is not suitable as a commodity must be positioned as capital to be productive and finally becomes why trade is compelling and becomes the most practical reason for removing Zakat from it. There are not many, not even articles that attempt to reveal the concept of classical ulama from Indonesia relating to Paper Money. This article manages to identify that, and at the same time, becomes a novelty.

Building Motivation in Saving on Elementary School Students through Financial Literacy

Financial literacy is one of the literacy skills among 6 other literacy’s that are useful in this century. Financial literacy can be used as a tool to increase the motivation of an individual in increasing his financial capacity. In terms of financial literacy, it can be tried to be applied to individuals as early as possible, here the application of understanding financial literacy is given to elementary school students so that they are expected to be able to understand the concept of money and risk in making financial decisions for the future. It is hoped that the increased financial literacy of these elementary school students can help encourage the movement to eliminate the sandwich generation chain in this generation.