Global instability of currencies: reasons and perspectives according to the State-corporation hegemonic stability theory
This paper analyses reasons of the instability of the world monetary system. The author considers this problem from historical and contemporary perspectives. According to presented point of view banknotes and electronic money which replaced gold and silver coins in popular circulation are the most important reason of the instability. There are also proven positive and negative consequences of money instability. Reforms of the world monetary system need agreement within the global collective hegemony of state-powers and transnational corporations.
JEL Classification: E42.
Keywords: global instability currencies exchange rates gold and silver money Kopernik’s law banknotes real and symbolic value national economies international trade and capital flows global economy state-corporation hegemonic stability theory