Money Economy Research Articles

Against the extremes: Simmel’s social and economic pluralism

ABSTRACT We live in times of increasing polarization in which the margins of the political spectrum begin to dominate our social imagination again. While the neoliberal iteration of the capitalist project suggests extreme individualism as the normative default position, the devastating impact of the globalized economy on many has reignited the pursuit of socialist alternatives. In this constellation, Simmel's social theory of modernity can be a useful resource to undercut the return of the old battle between opposite economic systems. This paper argues that two kinds of pluralism can be derived from his conceptualization of the social effects of the money economy. In contrast to one-size-fits-all concepts of freedom, Simmel embraces a social pluralism which acknowledges a plurality of cultural spheres as relevant for the self-actualization of modern individuals, attributing different combinations of independence and embeddedness to them. Moreover, he rejects the social extremes of socialism and individualism since they fail to properly integrate individual freedom into the social whole without undermining it. Instead, Simmel gives us the vision of a pluralist economy in which democratic worker's cooperatives are combined with an overall liberal market to satisfy both the longing for community and the endeavour for individual distinction.

Applicability of Financial Inclusion Theories and Rural Development Theories in the Implementation of the Parish Development Model (PDM) in Uganda

This article provides guidance on how to implement the Parish Development Model, which was launched in February 2022 as the government's multi-sectorial strategy to achieve socioeconomic transformation by converting 39% of Ugandan households from the subsistence economy to the money economy. Uganda, often known as the Pearl of Africa, has seen national development plans incorporate Vision 2040 goals, and it is now undertaking its third National Development Plan. To complete the 2040 vision cycle, three further identical projects must be done. President Yoweri Kaguta Museveni highlighted Financial Inclusion as one of the 17 implementation strategies, since Uganda's monetary poverty rate (the proportion of the population earning less than US$1.04 per day) has increased over the preceding nine years, from 19.7% in 2012/13 to 21.4% in 2016/17. Despite an average annual economic growth rate of 4.7%, the number of underprivileged individuals rose to 8.7 million in 2019/20 from 6.6 million in 2012/13. As a consequence, the Parish Development Model was implemented in rural regions to eliminate poverty. Financial inclusion and rural development principles can help to assist this economic growth plan. As a result, this study investigates how these principles have acted as guides for effective parish development model implementation, as well as recommendations to ensure that they are consistent with rural people's long-term aspirations. Keywords: Financial inclusion and Rural Development theories, Parish Development Model

Monetary Policy, Digitalisation and Banking Industry Performance in Nigeria

In the evolving financial landscape of Nigeria, the interplay between monetary policy and digitalization significantly influences the performance metrics of banks. This study explores the multifaceted impact of these two critical factors on the Nigerian banking sector. Monetary policy, orchestrated by the Central Bank of Nigeria, regulates the economy's money supply, affecting banks' lending behaviors and liquidity. Digitalization, on the other hand, offers a transformative potential for banks to enhance operational efficiency, customer experience, and service delivery through technological advancements. The study examines how money supply, lending rate and digitalization (proxied by mobile cell subscription) affect banks’ financial performance, focusing on bank credit and liquid assets, while controlling for inflation and exchange rate variables. It also examines the interaction between digitalization and monetary policy variables on bank performance. Employing an interactive multiple regression model, the study analyzes time series data from 1996 to 2022 sourced from the World Bank. Findings indicate that while stringent monetary policies can constrain bank performance by tightening credit and reducing liquidity, digitalization provides an opportunity for banks to counteract these effects through enhanced efficiency. However, the successful integration of digital technologies is contingent upon adequate investment, regulatory support, and strategic alignment with the banks’ core objectives. The study concludes that Nigerian banks must adeptly manage monetary policy fluctuations and leverage digitalization to sustain and enhance performance. These insights could guide policy formulation and strategic decision-making within the banking industry.

DANCE AS MIRROR OF SOCIAL AND CULTURAL CHANGE: A PEEK INTO MANIPURI PERFORMANCE HISTORY

The paper attempts to highlight significant moments in the history of Manipuri dance and their implications on the dynamics of social and cultural developments of the time. The dancing body is now no longer a simple reproduction of historically created style of human movement that seem to continue forever as symbol of people’s tradition and culture. The dancer’s body is now read as sign, as discourse, as platform for human experience and the structure and formulations of movements in time in the body do inform particular thoughts, ideas, emotions and affects that were involved in the creation of a language of dance. By analyzing the kind of dance produced in creative people’s history, we shall be able to provide hints on the structure of power, knowledge and the world views of the society of the times. No doubt technology, utilization of resources, spiritual and religious influences and power exercise do impact on social and cultural change. But the kind of dance style also do inform on the very nature of the creative inputs of society that had been necessitated in the production of the dance. Reading dance can also be as pleasurable as reading literature.We shall study the pre – Haraoba, the Lai Haraoba dance and its transformation into the 18 th century classical dance of the Raas Leela during the conversion of the Manipuris into Hinduism. The introduction of colonial money economy and structural changes in the society and culture and its impact on dance shall be explored. Globalization and its impact on dance traditions shall also be indicated. As we go deeper into the semantic field in the structure and form of dance, operas and performance in different stages of history, we are able to discover the manifold transformation in the realm of peoples’ and rulers’ ideas on life, relationships and processes in response to the challenges of the time. The challenges no doubt come sometimes from outside of the realm in which the people thrive. Foreign conquests and introduction of new ways of life and action also impinges on the traditional equilibrium in society. There are times of turmoil and unease. Livelihood and art are in moments of crisis. But the response to the crises is unique, as the culture of the time indicates the resilience of that society in culture. Manipuri dance history relates this experience.

Dealing with Death (and the Departed): The Changing Face of Funerary Rites among the Bulsa of Northern Ghana

In Ghana, how families and communities across different ethnic groups deal with the dead and the departed has remained unchanged for the past three decades. Presently, however, changes are observable in the increased number of mortuaries, funeral homes, expensive funeral cloths, use of digital technology and big donations. Scholars have attributed these changes to factors such as religion, migration, money economy, mortuary technology, education, and urbanization. Drawing on ethnographic data in the Bulsa area of northern Ghana, this paper examines how a money economy, mortuary technology, and urbanization among other factors have changed the meaning and purpose of funerary rites in the area. The paper concludes that funerary rites will only continue to be meaningful and memorable to the Bulsa when the changes taking place in this cultural practice are well integrated into the way that funerals are celebrated in the families and in the community.

Wallachian Law as a Tool for Colonising Peripheral Areas: Case Study of the Sandomierz Forest in the 15th and 16th Centuries

The uniqueness of Wallachian settlement in the territories of Poland was that it extended beyond its natural mountain and submontane zone. This resulted in the emergence of settlements founded under Wallachian law, including the Sandomierz Forest area. The aim of the article is to examine the economic activity of the residents of these settlements, which was conditioned by the environmental situation. One important problem addressed in this work is the question of reasons for the colonisation backwardness in this region, manifested in the slow pace of the progress of urbanisation, the limited scope of the money economy, and the late development of manorial demesnes, among other factors. These delayed and poorly discernible processes were followed by the evolution of the profile of Wallachian-law settlements, evident in the 16th century. The permeation of elements of Wallachian customs into agricultural settlements was an important adaptation element that has not been properly examined in the literature.

<b>Impacts of Macroeconomic Variables on Foreign Exchange Rate of SAARC Member Countries</b>

Exchange rate (EXR) stability is crucial for especially the developing economies. This study examines the macroeconomic variables which affect EXR in member countries of South Asian Association for Regional Cooperation (SAARC). To do the analyses, data from 1981 to 2019 was relied upon. To estimate the long-run coefficients, Fully Modified Ordinary Least Square (FMOLS) is incorporated. The outcomes of FMOLS exhibit that the variables such as trade, inflation, GDP, total debt services, trade openness, and tariff rate are inversely related to EXR while broad money is found to affect the EXR in positive. As a policy prospect, The Central Bank (CB) is needed to follow tight monetary policy to curtail liquidity of money in economy. It is recommended that CB to discourage government project financing that is to cause increase in money supply but to initiate trend line to facilitate GDP growth, trade, and imposition of tariff to curtail rising EXR.

Hard money and fiat money in an inflationary world

The purpose is to determine whether a borrower prefers to borrow hard and fiat money from a bank to buy other assets from a seller, whether the seller wants to sell, how the nontraders are impacted, and whether the bank prefers to lend money and print or withdraw fiat money. The method is to compare the agents’ and bank’s Cobb Douglas utilities over two periods. The conclusions are that the bank prefers to print fiat money to a certain extent. Fiat money printing benefits the borrower/buyer which prefers inflation, benefits the bank if not excessive, and hurts the seller and nontraders. The seller and nontraders prefer a hard money economy or a fiat economy where the bank withdraws money to ensure deflation. More nontraders decrease inflation since the bank’s money printing gets spread across more agents. The article provides further results illustrated by varying 64 parameters relative to a benchmark.

The Song Dynasty’s Fiscal and Economic Policy and Its Social Economy

The fact that industrial and commercial taxation in the Song dynasty greatly exceeded agricultural taxation was unprecedented in previous dynasties. This is mainly explained by the Song government’s financial and economic policy which was dominated by industrial and commercial taxation, made good use of the laws and characteristics of market relations and the commodity economy in business operations, actively stimulated consumption and was clearly utilitarian. Under this policy, the rulers, in pursuit of huge profits, used state power and mobilized various resources to implement a monopolies system and a commercial tax system, which, in turn, helped develop the commodity money economy, expanded the scale of market exchange and promoted the high degree of development of the commodity economy of the time. The financial and economic policy of the Song dynasty showed the unique advantages of the imperial state’s intervention in the economy. It was this that distinguished the Song dynasty from other dynasties in terms of the prosperity of the commodity and monetary economy.

Tourism Lifestyle Commodification in Cycling Trends Among the Middle Class in Yogyakarta and Surakarta

The Covid-19 pandemic that is happening in the world today is creating many changes forced by circumstances. Tourism and Lifestyle are one of them. In Indonesia, this research takes the location of Yogyakarta and Surakarta city research on the phenomenon of healthy lifestyle cycling in the morning and Tourism. Commodification is a concept not only concerned with the issue of production of commodities or goods in the sense of economy which narrows about goods traded just but, concerns more than that, i.e. about how goods that distributed and consumed. The concept of commodification is not something new but has happened since ancient times so it seems to have become part of people’s lives. Appearance This symptom of commodification is due to the spirit of the money economy to gain profit. In the world of tourism, commodification is also known as tourism, namely efforts to make the community a tourist destination as a tourism product. Cycling leisurely in the morning is an activity that many people do with the initial goal is keeping fit. But in its development into a lifestyle that means not just guarding a fitness body, but Becomes a need existing self. commodification which Becomes a focused study besides describing the mean tour moment. The aim study this is to look commodification tour and style life that occurred in Yogyakarta and Surakarta during the Covid-19 pandemic. Using the method Qualitative with data obtained from the results interview live and observation of perpetrator travel and fans through body bicycle relaxed in a second region

KISAH DUA TANAH PERDIKAN: PERUBAHAN STATUS WILAYAH BEBAS PAJAK DI KERAJAAN MATARAM ISLAM ABAD VIII DAN KERAJAAN SIAM ABAD XX

Perdikan land or tax-free land in Indonesia and Thailand is used for religious purposes. This study aims to determine the change in tax-exempt status in Indonesia and Thailand, especially in the Islamic Mataram Kingdom and Siam Kingdom. This research used historical methods consisting of topic selection, source collection, source criticism, interpretation, and writing. The result shows the existence of tax-free areas in Indonesia and Thailand has been going on for a long time. However, tax-free land in Indonesia was revoked after independence because it was considered injustice. Differently, tax-free land in Thailand still exists but no longer receives forced labor support from the king, replaced with wage labor because of the money economy influence that Chinese trader brought and for the abolition of slavery. In conclusion, tax-free lands in these two countries have different fates due to social and economic changes.

Matrilineal practices among muslims: An ethnographic study of the Minangkabau of West Sumatra

Matrilineal practices constitute an important aspect of the social organization among the Minangkabau Muslims of West Sumatra. Challenges were posed to the co-existence of customary practices and religious elements by specific regional and historic factors such as Dutch colonialism, the introduction of the money economy, Islamic reformism, legislative interventions, and other socio-economic transformations in colonial and post-colonial West Sumatra. These factors attempted to refashion kinship along new familial relations and was marked by the entry of Minangkabau women into the public sphere, engaging with the transformation in multifarious ways. What one could observe in their contemporary form of social organization is the mutual existence of change and continuity of practices. These practices need to be understood as historically specific negotiations among customs, religion and the state, and are ethnographically explored in the paper.

Social change, cultural evolution, weaving apprenticeship, and development: informal education across three generations and 42 years in a Maya community

Analyzing three sets of video data collected in one Maya community, we examined apprenticeship and learning of backstrap loom weaving over three generations spanning the years 1970 to 2012. Like many cultural groups, the Maya of Chiapas are experiencing rapid sociodemographic shifts. Three generations of girls (N = 134) were observed at their looms: in the 1970 subsistence economy; in the transition to a commercial economy in the 1990s; and in 2012, when the commercial economy required formal education. Multilevel models showed that intergenerational sociodemographic change - increased time in school, greater involvement in the money economy, and decreased family size - changed weaving apprenticeship, which, in turn, was related to changes in characteristics of learners. In 2012, weaving learners received more explanations, praise, and body instruction from their teachers. Learners, in turn, asked more questions. However, these changes came at a cost - the gradual loss of weaving as an everyday subsistence practice and art form. Tracing intergenerational change over three generations, this study makes a unique contribution to an understanding of cultural evolution.

후레(Hậu Lê) 왕조 官吏犯罪 收贖 규정

The ransom system was implemented out of consideration for the socially disadvantaged, and it was also implemented to give preferential treatment to officials or to improve administrative efficiency. Both the Late Le Dynasty of Vietnam and the Joseon Dynasty of Korea implemented the ransom system by reflecting the punishment system.
 The following features can be seen through the comparison of the rules of ransom between the Late Le Dynasty of Vietnam and the Joseon Dynasty of Korea, where the most notable are the punishment rules.
 In the Quoc Trieu Hinh Luat (The National Penal Code), all officials could be exempted from punishment by paying ransom in cases of offenses due to negligence, excepting serious crime like the 10 evil sins. According to the rules regulating the ransom in Joseon Dynasty, in addition to the high-ranking officials, the rules permitted ransom payment for (a) the official candidates after being discovered to have received preferential treatment and (b) the technical low-ranking officials for other offences, because they were integral parts of the bureaucratic system which made their replacement extremely difficult (i.e., affecting the administrative efficiency). So, the rules of ransom facilitated this kind of punishment instead of the formal punishment.
 In the Quoc Trieu Hinh Luat (The National Penal Code), officials could be exempted from not only the physical punishment (the 5 punishments) but also from the personnel relegation and the punishment of writing some words on the body if they settled the ransom. In the punishment rules of Joseon Dynasty only the high-ranked officials could be exempted from physical punishment (the 5 punishments). In the Late Le Dynasty, these rules were derived from the development of the money economy, which in turn conditioned the exemption to be made by paying money, but in the Joseon Dynasty, however, the rules stated that fabric must be used for the ransom.
 In terms of the amount paid for the ransom, in Late Le Dynasty, it was proportional to the officials’ rank and the severity of the punishment. This was different in the Joseon Dynasty because regardless of the high or low bureaucratic rank they should pay the same ransom in same punishment level and the amount was reduced depending on the social and economic situation.
 The rules of ransom in the Late Le Dynasty, in my opinion, which required the high-ranking officials to pay proportional ransom to be exempted from punishment, were more effective to some extent to prevent administrative crimes. On the other hand, I think the rules of ransom in the Early Joseon Dynasty favoured high-ranking officials and brought efficiency in administration by permitting the payment of ransom for low-ranking or technical officials, but overall the effect of preventing crime was weak.

Микола Федорович Котляр: біля витоків сучасної української нумізматики

In this article is highlighted the life and scientific milestones of the famous historian, corresponding member of the National Academy of Sciences of Ukraine, numismatist, medievalist, source historian, historiograph, author of more than a thousand scientific and popular science publications – Mykola Fedorovych Kotlyar. The formation of Mykola Kotlyar as a scientist was closely connected with numismatic studies, in the field of which he achieved considerable success. The researchers, who are dealing with the problems of Ukrainian numismatics, cannot pass over the scientist’s publications, that is why he became one of the most quoted Ukrainian numismatists, and over the years of fruitful work has gained recognition both in Ukraine and far beyond. As a student and delegate of the numismatic school of I. G. Spaskyi, M. Kotlyar inherited the research traditions of the Leningrad school, which he successfully implemented on the Ukrainian ground. Due to the fact that there had not been any qualified specialists, as well as systematic source base and appropriate methodology, the numismatic research in Ukraine had almost not been conducted before the beginning of Mykola Kotlyar’s active scientific career. In fact, starting from his scientific research it is possible to talk about the beginning of a new stage in the development of modern Ukrainian numismatics. The scientist was one of the initiators of the establishment of scientific publications in Ukraine, in particular, “Numismatics and Sphragistics” and “Historical Sources and Their Uses”, in which numismatists and specialists in other special historical disciplines were able to publish research results. Particular attention in the publication is focused on the achievements of the scientist, whose merit is the primacy in the complex study of the late medieval domestic issues, topography of numismatic finds, reconstruction of money circulation, money-weight and counting systems of medieval and early modern Ukraine. Mykola Kotlyar’s numismatic studies contributed to the formation of modern Ukrainian numismatics that studies a wide range of general historical problems. It basically turned it from a discipline that had not gone beyond external criticism of the source into a field of historical science. In his numismatic search the scientist used the latest modern techniques, and his understanding of the object of study was not limited to a coin or treasure, but included weights, stamps, written sources. Along with the emission and money circulation, the monetary metrology, money economy and the number of coins also became the subject of Mykola Kotlyar’s scientific studies. Such a complex approach, in which the coin was transformed from an independent object of study into a source, allowed M. Kotlyar to clarify a number of previously unknown or debatable socio-economic problems and processes. In particular, Mykola Kotlyar emphasized the regional types of money circulation in Kyivan Rus since the middle of the 8th century. According to the scientist “The Coinless period” is conventionally coinless for Southern Rus. Apart from that he proved that the emission of coins in Lviv and Kyiv in the late medieval period was a local Ukrainian phenomenon and in early modern times the money market of Ukraine was actively influenced by international trade and other factors. Monographs of the scientist “Galician Rus in the second half of the 14th – first quarter of the 15th century: historical and numismatic research” (1968), “Money circulation of Ukraine in the era of feudalism” (1971) and “Essays on the history of circulation and numbers of coins in Ukraine in the 14th – 18th century” (1981) immediately became a bibliographic rarity and provided M. Kotlyar with the status of an outstanding numismatist. To summarize, we can confidently state that the numismatic studies of Mykola Fedorovych Kotlyar opened new opportunities for historians and became the basis for the formation of modern Ukrainian numismatics.

On the coexistence of cryptocurrency and fiat money

This paper uses a search-theoretic model to study conditions under which cryptocurrency is valued and under which it coexists with fiat money. In my model, a cryptocurrency economy is one in which private agents' decisions determine the stock of money and in which the marginal cost of producing money is increasing in the existing nominal stock. I show that the inflation rate of cryptocurrency must be zero in a stationary monetary equilibrium. This result is in sharp contrast to models with fiat money in which the stock of money is exogenously given. In fiat money economies, the inflation rate is determined by the rate of growth of the money stock. My result is also in sharp contrast with other types of private money economies, in which the inflation rate must necessarily be different from zero. In such private money economies, the cost of producing additional money does not depend on the existing nominal stock. Moreover, I show that cryptocurrency and fiat money can circulate at the same time and that the rates of return on these two assets may not be the same. Competition with cryptocurrency restricts the government's ability to over-issue fiat money and thereby might improve on pure fiat money equilibria without government commitment.

Turkish Economy Money Supply Dynamics, and Participation Banking

Türkiye’ de 2000’li yılların başı ekonomik anlamda ciddi sıkıntıların yaşandığı bir dönem olmuştur. 2005 senesi ise katılım bankaları için bir dönüm noktası olarak görülmektedir. Bu tarihten itibaren Avrupa Birliği uyum yasaları çerçevesinde katılım bankalarının Bankacılık Kanunu kapsamına alınmasıyla mevduat güvencesine geçilmiştir. Bu kararla katılım bankaları da Türkiye Cumhuriyet Merkez Bankası tarafından raporlanan para arzı verilerine katılmış, raporlamaların içerisinde yer almıştır. Bu sebeple katılım bankacılığı sektörü için yeni bir dönem başlamıştır. Bu çalışmada katılım bankalarının para arzına olan etkileri ve bu etkilerin 2015-2021 yılları arasındaki rakamsal değişimi analiz edilmiştir. Bu analizde para arzı tanımlarından olan M1,M2 ve M3 verileri kullanılarak, katılım bankalarının rakamları değerlendirilmiştir.

Politics of Demonetization: Its effect on the Village Economy in India

The Government of India` s call for demonetization on 8th November 2016 banning Rs500/-and Rs1000/- notes was originally accepted as a positive step to discourage the black marketers and the rackets in hoarding to rule over the society. Unfortunately the long term effect of such a hurried decision became a boom to the agri-business based on soft cash. The agribusiness chain became the worst effected group. The chain included non-formal agricultural sector small earners in the agricultural field the farmers as the fragmented land holder and the producers thriving on the instant sale of their products and also those depending on middleman for the disbursement of funds and purchase of products for storage and dispersal of the same to the consumers` market for constant supply. Demonetization discouraged the middleman to put cash in the producing and disbursement. Thereby demonetization dismantled the overall economic chain of production and distribution resulting havoc in agro business market. The small farmers became the main victims of the circumstances. The banning of money economy on the one hand created scarcity in the families based on ancillary agro-production and it also hampered the family income of the rural farmers. Considering the boom in the village economy as an outcome of demonetization the present article makes an effort to gather firsthand information on the position of rural farmers and other non-formal rural occupation group as an outcome of demonetization announced by the Prime Minister of India. The focused area of the study include the selected villages in the northern part of West Bengal. They are rich in agro-based products run by the self-contended but marginal women farmers group thriving on export of their products to the Nepal Market. Their family males are involved in other ancillary employment like pendal making for marriages and other social gatherings running grocery shops and hawkers selling garments and cloths. The women in their families are involved in the varieties of occupation like working as Anganwari preparing mid-day mill working in the road side motels run by the Government (Pother Sathi ) and also working as a liaison of the Government Agriculture Department of the District through their Farmers` Club. The region marked as the second best agro-production area in West Bengal but their business thrives on cash transaction. Keeping in mind the PM`s speech on November 8th 2016 as a pro-poor program the present study focuses on the effect of demonetization on the poor women farmers by reaching out to the farmers families.The survey was done on December 2017 to observe the post demonetization effect in the reality scenario. Interestingly a similar survey was carried out by the researcher in 2015- 2016 and the field survey report was presented in the form of a research paper entitled ` the Role of Women in Agriculture ` in University of Vienna Austria under the International Sociological Forum in July 2016.This has enabled the researcher to gather knowledge on the economy of women community in the rural areas of North Bengal and a part of the West Bengal State. The life and living of these enthusiastic women community gave an impetus to the researcher to visit them and to learn the effect of demonetization in their life.2 The present paper is the outcome of the survey made by the researcher for the second phase in December 2017 during the post demonetization period.

Nietzsche, Plato and Aristotle on Priests and Moneymakers

AbstractHaving started with a harsh critique of the “contemptible money economy” (UM III, SE 4), Nietzsche subsequently travelled back in time in order to discern the origins of its values and to formulate goals that would “transcend money and money-making” (UM III, SE 6). Having traced the “greed of the moneymaker” back to theressentimentof the “ascetic priest” (GM III 10–5), Nietzsche’s genealogical inquiry culminated in his discussion of the slave revolt in morality. A particular feature pertaining respectively to the domains of material debts and moral guilt was their reliance on an enduring revaluation of values. The manner in which Nietzsche connects the moneymaker’s world of material debts to the priest’s domain of the slave morality reveals a number of striking structural parallels to Plato’s, and to some extent Aristotle’s, discussion of the uneasy accommodation between democracy and moneymaking. Highlighting and exploring these similarities, which remain largely overlooked in the current scholarship, adds to our understanding of Nietzsche’s undertaking.

Said the Hooker to the Thief

Said the Hooker to the Thief