Authors: Eduardo Rivera Vicencio
Addresses: Faculty of Economics and Business, Autonomous University of Barcelona, Barcelona, Spain
Abstract: The vast majority of what has been written about the monetary system and its theories was developed when money was totally or partially backed by some type of merchandise. At present, commodity money no longer exists, only debt money. This paper addresses money from its transition to the current situation, through this 'manifesto of money', for the construction of a new theoretical framework that adapts to the current reality and adopting money as a real medium of exchange. This paper uses the methodology of historical review and of existing power relations in this historical moment in time called the archaeological and genealogical methodology by Foucault. Using this tool, a review of the related economic literature is made and the incongruities of the current monetary system are described. The central axis of this work is the 'neutrality of money' which is used to develop a proposal for a national currency and a proposal for an international exchange currency as the basis for the construction of a new model.
Keywords: money neutrality; monetary supply; manifesto; Foucault; debt money; national currency; international currency; monetary system.
International Journal of Critical Accounting, 2021 Vol.12 No.3, pp.229 - 258
Received: 07 Nov 2020
Accepted: 16 Feb 2021
Published online: 20 Jul 2021 *