Discussion Issues of the Discipline “Money, Credit, Banks”

Abstract

The relevance of this article is due to the need to develop a fundamentally new approach to the disclosure and revealing the essence of money and the monetary and banking system. In most economic publications they are viewed and considered primarily from the Marxist point of view, eclectically mixed with the tenets and provisions of the neoliberal school of economic thought. The purpose of this article is to critically evaluate the provisions of these schools. In the course of the work, the author used scientific methods of analysis and synthesis, deduction and induction, organic consistency, and sequence in the presentation of the material, etc. The article concludes that the current approach to the disclosure and revealing the essence of money and the monetary and banking system, based on the provisions of the Marxist and neoliberal schools of economic thought, is erroneous. At the same time, the article reveals some aspects of an alternative definition of the essence of money, which should be the basis for writing a new textbook on the discipline “Money, credit, banks” for students of economic specialties of universities and colleges.

Keywords

• money
• monetary and banking system
• central bank
• fiduciary and national market monetary system
• marxist, neoliberal, and russian school of economic thought