View Of Money Research Articles

The normatively troubling impact of attitudes toward the role of money in politics on external political efficacy

AbstractObjectiveWe explore whether Americans’ attitudes about the role of money spent on political campaigns and separately their attitudes about the influence of corporations impact their external political efficacy (EE) or perception that the government is responsive to them.MethodsWe conduct three independent sample surveys (total N = 2789) to measure individuals’ attitudes toward the role of money in politics (ARMP), attitudes toward corporations, and EE. We also measure political partisanship to test for moderating effects.ResultsARMP are strongly and positively associated with EE: those who are more favorable of the role money plays in politics view government as more responsive to them. This finding is specific to ARMP and does not extend to corporations, suggesting that public awareness of campaign spending is shaping individuals' views of government responsiveness. We find no evidence that this relationship is moderated by partisanship, despite differing views of money in politics between Democrats and Republicans.ConclusionOur results are normatively troubling and suggest that as campaign spending continues to rise, individuals will increasingly feel that the government is less responsive to their concerns.

Bank Deposits as Money Quanta

According to the Accounting View of Money (AVM), the money issued by commercial banks in the form of demand deposits features a hybrid nature, since deposits can be shown to consist of a share of deposits bearing the characteristics of debt (debt-deposits) and a share of deposits bearing the characteristics of equity (equity-deposits), in a mix that depends on factors that relate to the issuing banks and the environment where they operate and interact, which may change over time. Following this important finding of the AVM, it is only consequential to associate the hybrid nature of bank deposits with the dual nature of the objects which is typical in quantum physics, and to investigate whether and how the application of quantum analytical methods and ideas to a form of money showing dualistic features could be used to extract valuable economic information. This article studies demand deposits (which represents the prevailing form of money in all contemporary economies) as a possible form of “money quanta”, that is, quantities reflecting some aspects tipical of quantum physics, and analyzes it using a quantum model to describe some relevant aspects of it, including for instance how banks’ power to create money (i.e., issue deposits typically via the credit channel) is affected by the interactions taking place between the banks and between the banks and their environments, and how system efficiency and stability change in relation to changes in bank behaviors. This article lays the foundations of money quanta and is the first step towards a better understanding of the relevance of quantum mechanical tools and ideas in connection with the study of economics and finance.

MONEY IN ISLAM: ECONOMIC AND SOCIAL

Money has a crucial role in human economic and social life. Based on Islam, money is not only a medium of exchange or a unit of account but also has high ethical and moral values. Money is considered as a deposit from Allah SWT and humans have the responsibility to use money wisely and responsibly. The purpose of this research is to reveal the Islamic view of money in an economic and social approach. The methodology used is qualitative with a type of literature approach. The results of this study reveal that Islam emphasizes that the use of money as a means of transaction in the financial system must be based on sharia principles which consist of three levels, namely dharruriyat, hajiyat, and tahsiniat. Of these three levels, it can include the principles of justice, equality, and balance in economic activity. In addition, money also has an important role in human social life. In Islam, money can be used to help others through zakat, infaq, and alms. This shows that money is not only used for personal gain but also for social and humanitarian interests. In order to optimize the role of money in economic and social life, Islam emphasizes the importance of ethics and morals in the use of money. Humans are responsible for using money wisely, and responsibly, and paying attention to social and human interests. In this way, money can become a tool that brings blessings to people and society.

The “Free Trade” South versus The Mercantilist-Keynesian North during the Civil War

Since acquiring money is not, and is not intended to be, directly in the social interest, the economic principles suitable for capitalism must, in the long run, resolve the possible institutional conflicts between acquiring money for the business enterprise and producing real output for the benefit of society-at-large. Mainstream economic theory since Adam Smith has suppressed this structural quarrel by presuming the capitalist monetary economy operates as if it were a barter economy. Ironically, money as an institution of capitalism is presumed neutral with respect to both employment and output, but President Lincoln never believed this, and in the Mercantilist tradition of Hamilton-Adams-Clay-Carey (“The American System”), his Greenbacks institutionally effectuated the National Capitalism of the(se) United States. At issue had been whether to concentrate capital (North) or disperse it westward (South), whether to create a national bank to finance internal growth (North) or whether to oppose the system of finance-capital and paper credit (South). Throughout the Civil War, the North’s non-neutral view of money versus the South’s (orthodox commodity-exchange) neutral view of money proved critical to this embattled national decision of societal production (North) versus State’s rights. Ultimately, the North’s instituting the monetary-economic insights of the National Capitalist via Abraham Lincoln proved decisive

The Wealth Anxiety of Chinese Generation Z Women Brought by the Wealth-showing Videos on Chinese E-commerce Platform RED

As an e-commerce platform in mainland China, RED was established in June 2013 in shanghai. RED has a total of 6 rounds of financing, with a valuation of more than 20 billion US dollars (about 126.7 billion yuan). More than 200 million monthly active users in 2022, most of its users are women. Money anxiety is a problem for young women today. Through the research on the influence of RED's wealth-showing videos on the money anxiety of young women, people will pay more attention to the money anxiety problems that young women are facing, and problems and improvements needed in the operation of RED as an e-commerce platform. This study investigated young Chinese girls' perceptions of RED's wealth-showing videos and their level of money anxiety by creating and sending questionnaires. A total of 300 questionnaires were issued and 70 valid questionnaires were returned. REDs wealth-showing videos aggravated the money anxiety of most young women, and caused impulsive consumption and excessive consumption of young women, causing physical and psychological harm to young women, as well as adverse effects on society. In response to these problems, platforms should rectify the authenticity of videos, avoid the spread of malicious videos showing off their wealth, and at the same time call on bloggers to share content that is conducive to establishing a correct view of money among young women.

Goethe’s Faust and the philosophy of money

ABSTRACT Philosophers today do not think of Goethe’s Faust as an important contribution to the philosophy of money. But to discount the work in this way is a mistake, I argue. Underneath Faust’s lyrical form, Goethe develops a comprehensive view of money that came to be an important influence on left-wing (Karl Marx) and right-wing (Oswald Spengler) discussions of money. Centrally, Goethe argues that modern economic practices have transformed money obsession (long conceived of primarily as an individual vice) into a structural problem: social structures are now set up to systematically require individuals to engage in quasi-obsessive behaviors towards money (e.g. persistently talking about/sacrificing for money) independently, to a significant degree, from their individual choices. This structural power, Goethe proposes, requires a rethinking of how behavior towards money should be morally evaluated – and, importantly, a critique of moral attitudes that individualize what is, in truth, a social problem.

Lone Motherhood, Poverty and the Meaning of Money

Lone-mother–headed families are key targets of poverty research and financial coaching training programs worldwide. Yet, despite the centrality of this population in poverty studies, there is little research on how this population construes the meaning of money in developed economies. This article focuses on the social construction of money among low-income lone mothers in Israel—a highly market-oriented, neoliberal economy. Based on a qualitative analysis, the study found five main representations of money: survival money, motherhood money, earned money, coping money, and resistance to dominant views of money. Our findings confirm the notion that money exists outside the sphere of the market and has contextualized meanings reflecting gender as well as cultural and social structures.

The Impact of Psychological Capital and Social Capital on Residents' Mental Health and Happiness During COVID-19: Evidence From China.

ObjectiveThis paper studies the mediating and interactive effects of social capital on psychological capital and the feeling of happiness from the impact of COVID-19. Since its emergence, the COVID-19 pandemic has taken a toll on people’s mental health and affected their hopes for the future. Lifestyle and economic conditions have also been affected and have subsequently impacted people’s sense of confidence in life. This could increase the likelihood of many people developing mental health issues, such as anxiety or depression. Therefore, it is vital to study the influence of psychological capital and social capital on people’s subjective psychology and happiness experiences.Materials and MethodsUsing an ordered probit model, this paper studied the independent influence and interaction between psychological capital and social capital on people’s happiness. The ordered probit model was chosen because subjective well-being (SWB) is an ordered variable. We further used structural equation modeling (SEM) to study the mediating effects of social capital on psychological capital and happiness.ResultsThe regression results showed that both psychological capital and social capital were significantly positively correlated with happiness when controlling for other factors. In addition, psychological and social capital significantly interacted, in which the psychological capital promotes the effect of social capital on happiness. Moreover, the effect of psychological capital on happiness was greater than that of social capital, demonstrating that happiness is more greatly influenced by subjective psychological experience. The interaction coefficient of psychological and social capital was also significant, showing that the two have mutually reinforcing effects on happiness. Finally, health, income class, real estate, stranger trust, age, and urban household registration had significant positive effects on happiness, while the view of money, being female, education had a negative relationship with happiness. The SEM results showed that the mediating effect of psychological capital on happiness was partly transmitted through social capital: the total effect of psychological capital on happiness was highly significant (p < 0.0001), as was the total effect of social capital on happiness (p < 0.0001); however, the coefficient for psychological capital was greater than that for social capital. Through heterogeneity analysis, we found that the relationship between psychological capital, social capital, and happiness was significantly positive in each sub-sample group. There was also a significant interaction between psychological and social capital for men, women, urban and rural residents, and higher education background sample groups. However, the interaction was not significant in the sample group without higher education. In addition, the relationship between the happiness of rural residents and their educational background and gender was not significant.ConclusionWe found that psychological and social capital have significant positive relationships and effects on happiness. Psychological capital demonstrated both direct and indirect influences on happiness, and further strengthens the influence of social capital on happiness. These results support a scheme to emphasize psychological support during the COVID-19 pandemic period to enhance the mental health of citizens.

English

This paper approaches the topic of money from a Nigerian perspective. A proper understanding of money and its role in an economy and society as a whole would require a more rounded view of money and its meaning than what has been provided by the field of Economics. This harmonious view will analyze money through the lenses of different disciplines in social science. The aim is to show that money is a social construct that is embedded in culture and society.&nbsp; Thus, a better understanding of money should reflect this attribute. Beginning with the Nigerian experience, this paper demonstrates the benefit of an interdisciplinary approach to money and finance. &nbsp; Key words: Money, development, job creation, culture, Nigerian society.

Money for the Issuer: Liability or Equity?

Abstract This study analyzes the nature of money through the lens of the international principles of accounting and lays the foundations of what it calls the accounting view of money (AVM). Using international accounting principles, the AVM argues that the fiat monies issued by the state (typically, cash, banknotes, and central bank money) are not debt and that in fractional reserve regimes, only a share of commercial bank money can be regarded as debt. The AVM argues, instead, that state monies and the nondebt share of commercial bank money are net wealth of their holders and net worth (equity) of their issuers and determines how the seigniorage associated with money issuance should be accounted for correctly in the financial statements of the issuing institutions. The AVM points to the correct way to account for the various forms of money in the financial statements of the issuing institutions, clarifies what the different accounting treatments imply for a correct understanding of the concept of money, and evaluates the related economic and economic policy implications.

이범진(李汎鎭)의 금전윤리관과 현재적 함의 - 그의 “人生의 金錢觀”(1921)을 중심으로

이범진(李汎鎭)의 금전윤리관과 현재적 함의 - 그의 “人生의 金錢觀”(1921)을 중심으로

RETRACTED ARTICLE: Combined phase balancing and reconfiguration for unbalanced distribution system optimization through hybrid fuzzy-MFOA

The phase balance and reconfiguration of the power distribution system is a dynamic analysis to improve and manage the radial power distribution system. Power loss analysis in the distribution system is mainly central, considering the point of view of money. In order to reduce power loss, different technologies are excluded in reconstruction, capacitor layout and phase balance. In addition to these three methods, in unevenness in the distribution system, the phase balance is considered one of three dynamic processes all of those above. Unbalanced feeders are dangerous for incremental power loss and excessive burden conditions; however, they affect quality and cost. A severely uneven circuit can convey an unsafe voltage drop in the intense phase. A positive feeder system is arranged to be load-dependent, recording balanced feed, the desire to improve the load and unbalanced load errors will begin feeder imbalance. For the equilibrium phase feeder, the exchange is a quick and convincing way. This paper proposes a problem of adding phase balance and reconfiguration to try to assist the hybrid fuzzy and Moth flame optimization algorithm (MFOA) to deal with the uneven distribution system. The verification of the estimative program is completed with two standard evaluations, and the work approves the simulation results.

Joseph Schumpeter’s Credit View of Money: a Contribution to a “Monetary Analysis” of Capitalism

This paper highlights Joseph Schumpeter’s monetary thought, which appears to be neglected, compared to his theory of innovation and entrepreneurship. In particular, the author addresses his completely unknown writing “Das Wesen des Geldes” focused on the topic of money. This book uncovers the “essence” and the logic of money and credit that stem from Schumpeter’s experience as the finance minister and the president of a private bank. Relying on this experience, Schumpeter rediscovers and deepens the credit theory of money, which interprets the money as an institution and a social accounting system, with the banking system seen as the central agency of capitalism. “Das Wesen des Geldes” is particularly interesting, since it is the outcome of Schumpeter’s elaborations within the framework of the German Historical (Ethical) School headed by Gustav Schmoller. This was followed by his moving to the United States, and his views reversed to support the neoclassical framework in line with Marshall – Taussig canon. The fact that “Das Wesen des Geldes” was not published posthumously until 40 years after it was written, shows the coercive power of the rules within the communities of academic economists.

The Islamic Concept of Wealth Consuming and Its Limitations

Every economic system encourages just and fair use of money since human wants are unlimited and resources are limited. However, economic interest is the determining factor in shaping relationship among modern states. The only interest of materializing economic interest and maximization of profit create imbalance in the overall society because this materialistic view induce people towards unnecessary expenditure for luxury, pomp and show. Hence, this paper delineates Islamic perspective of income and expenditure as Muslims are principally bound to follow Islamic teachings in terms of earning and spending. Islamic rules clearly explain categories, limitations and legitimate ways of expenditures. Further it emphasizes rational use of money and avoiding extravagance. This study is based on the analysis of secondary sources to portray Islamic view of spending money.

Dziecko w środowisku pieniądza: przekonania podzielane przez dzieci w wieku 8–9 lat

This article is a report from qualitative research conducted by the text’s author. Third grade primary school pupils who took part in the study have expressed their view of money by completing twelve incomplete sentences about money. The aim of the study was to find children’s shared beliefs about money. In accordance with the instrumental and symbolic nature of money there appear to be two main groups of phrases ending incomplete sentences. Some of children’s statements refer to instrumental understanding of money, that is, they relate to its value in use and economic functions. Other statements are connected with the symbolic nature of money, showing its psychological and social functions.

The Monetary Structure of Economic Activity

The modern approach to the market as a place with autonomy depends on a certain view of money. According to that view, money is a neutral technology that expresses individual choices made about real goods and services. But the controversies over money that regularly arise in political communities reveal that money is far from a transparent medium. It is a legal project that structures economic activity. Money literally makes the market. The article extracts a definition of money from the most recent controversy over it. That controversy, the debate over safe assets, suggests that moneys overwhelmingly share a particular character: they are made of sovereign debt, short-term IOUs, that are enabled to act as cash by the sovereign who issues them. The article constructs a thought experiment to illuminate exactly why governments would create money according to this pattern. The experiment suggests, first, that governments gain enormous capacity when they convert in-kind obligations due to them into countable units that can be anticipated, spent, and levied. Second, governments benefit even more when they enable those units to circulate, a feat they manage by enforcing transactions in law – making money the default mode of payment for contracts, torts, property, and other transactions. That activity takes public authority into the intricacies of personal exchange, curating it in ways that condition its exercise. The article explores each of these qualities – the identity of money as sovereign debt and its enhancement as cash – because each of them represents a legal initiative that fundamentally reconfigures a society’s political economy. In that moment, money departs its reputation as a neutral technology and the market loses its claim as the product of private choice. To the contrary, economic exchange depends on a medium made in law and travels within the channels that medium enables through law.

Democratizing Finance or Democratizing Money?

This article extends the critique of finance to money itself. It argues that our understanding of money has been distorted by a series of myths about its origin and nature, in particular, the claim that money emerged from the adoption of precious metal coinage in market systems. These myths obscure the social and political history of money and the role of states in money creation and circulation. Neoliberal ideology, by contrast, adopts a “handbag economics” that treats the state as a dependent household rather than an economic actor in its own right. An alternative view of money is put forward that sees money as a social and political construct and not just a passive reflection of market activity. It is argued that the sovereign power to create money should be recognized, reclaimed, and democratized as a public resource.

Lincoln’s well-considered political economy (the ‘American System’) trumped the Free Trade British System

AbstractThe Whigs could legitimately emphasise what Hamilton’s Report had not touched upon: urban labourers made unemployed by import competition could not shift to ‘collateral employments’ with the presumptive ease asserted by Free Trader Democrats. More than anything, it was the structural cyclical instability (Minsky moments) that engendered a new party (Republican) to exert political pressures for government involvement in the management of the economy (mercantilism). Economic beliefs played the most fundamental role in Lincoln’s career, and his mercantilist views, in conformity with Hamilton, Clay and the economist Carey, were key determinants in effectuating the Industrial Revolution within the United States through tariffs, government-supported macro-projects and structurally stimulating aggregate demand through a national currency. Permeating Lincoln's political economy was a fierce non-neutral view of money wherein banks created the funds to ignite the American System. Henry Clay, Henry Carey and Abraham Lincoln were seeking to supplant the Ricardo–Malthus long-term model of economic growth (emphasising distribution within a relatively stagnant economy) with one of expanding productive powers and rising wage levels. These interventionist issues are still quite relevant since US economics students are taught modernised versions of the doctrines of Ricardo and Malthus which were controverted more than a century ago by the American School, and more specifically by Abraham Lincoln.

Money, Debt and War

The article analyzes how the flows of power that derive from war determine the relationship between capital and money, which is capital’s most important institution. As soon as the dollar was no longer convertible into gold, money became detached from its economic and commercial foundations and from its essential role in labor. Marx suggested two different views of money - one in Das Kapital and another in the Grundrisse. The paper elaborates the latter to argue that money assumes a directly political function.Michel Foucault and Gilles Deleuze provide the concepts of money on which the paper relies. Foucault finds the origin of money in debt, war and the state; Deleuze and Félix Guattari maintain that money is debt that derives from a new political relationship between debtor and creditor. Money as debt is functional only due to a flux of power and a flux of war. Money is the continuation of civil war by other, more political means; and it inscribes “the truth” into the play of power. Money as credit is a sign of power because it represents the possibility of choice, decision and command, that is to say the power of destruction or creation. Money as a means of payment, on the other hand, is a sign of powerlessness. Following Deleuze, the paper affirms that the economic functions of money (indication of value, store of value, unit of account, medium of exchange) depend on the dynamics of some other power. If money is not supported by a flow of power that is in essence a flow of war, it collapses, and the economic functions of indicating value and being the medium of exchange collapse with it.

How Rousseau read Hume’s Political Discourses: hints of unexpected agreement in their views of money and luxury

Despite mounting scholarship on the Rousseau–Smith connection, the possibility of overlap between the Humean and Rousseauian views of commercial society has not been explored. This is due to opposing views held by these two thinkers on this issue. However, Rousseau in the Confessions recorded a brief, but shrewd impressions on Hume’s Political Discourses, which he held before meeting Hume. In these comments, Rousseau, unlike his other French contemporaries, noted some republican aspects lurking in Hume’s political and economic essays. Moreover, after his two Discourses, Rousseau composed several other important works in which he revealed his more ‘mature’ economic arguments. Careful readings of these textual clues indicate that, in striking parallel with Hume, Rousseau conducts a thought experiment on the drastic change in the quantity of money and elaborates on the significance of industry and a certain type of luxury. Our purpose here is not to prove that Hume’s Political Discourses directly influenced Rousseau’s later writings, but to measure the extent to which Rousseau could share the Scot’s economic ideas by considering that the former may well have read the latter.