THE ROLE OF MONEY IN THE CONTEMPORARY ECONOMY
THE ROLE OF MONEY IN THE CONTEMPORARY ECONOMY

Summary/Abstract: The aim of this article is to present chosen aspects of functioning and role of money in the contemporary economy. The method of analysis and idiographic method were used as research methods. The idiographic method allows us to acquire information which reveals extraordinary, distinct, unusual features of the phenomenon of functioning of money in economy. The historical background of influence and the role of money in the development and operation of economy and society were presented in the article. Four most important tendencies which influence negative assessment of the role of money in the modern economy were indicated. They include generation of economic crises; development of instruments of financial engineering which are used for speculations; detachment of money from the real economy as well as its drastic distribution. The final part of the article includes an attempt of specification of necessary changes in functioning and role of modern money for the elimination of indicated negative tendencies. Originality/value – the indication and assessment of four most important negative tendencies in functioning of modern money. The proposal of recommendation of making some changes with the indication of new paradigms for functioning of money and financial spheres.

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