Technological Change as a Monetary Phenomenon

• 作者: Krzysztof Wasniewski
• 来源期刊: 经济世界：英文版
• 学科: 经济
• 关键词: MONETARY SYSTEMS TECHNOLOGICAL CHANGE
• 年，卷（期）: 2018,（3）
• 页码范围: 203-216
• 页数: 14页
• 分类号: F

摘要

This article attempts to study the function of monetary systems as networks of communication,which facilitate the channelling of social effort in the presence of exogenous conditions.A model of monetary system is being proposed,where monetary balances are algorithms of response,built up in the presence of uncertainty induced by technological change.Empirical research brought in support to that model demonstrates a strong and negative correlation between the velocity of money and the share of aggregate depreciation in current output,with intriguing links to exogenous mechanisms of energy absorption in the local social system.