Modern and traditional idea of \u200b\u200bthe essence of money. Modern ideas about the essence and functions of money Reproductive approach to the essence of money

Money is one of the greatest inventions of humanity, have a long history of development and have a huge impact on the market economy: business entities in the market conditions are constantly operated by the cost, cash categories, use them as a generalized indicator of the rationality of the actions of firms and households. The excursion in the history of forms and types of money allows us to conclude about the fundamental change in the essence of full-fledged money and as a result - the presentation of the substitutes of money. Many generations of economist scientists have tried and try to reveal the essence of money. But there is no definition of the essence of money that is unambiguously recognized by all economists. From a philosophical point of view, the essence of money is the internal content of the subject, in this case of money, expressed in the unity of all diverse and conflicting forms of his being. Consequently, the forms of being of money can be diverse and contradictory, but their essence, internal content should remain unchanged, otherwise it will be about the essence of another item that cannot be called money.

Turning to the question of the essence of money today, it is possible in the general form to highlight the following approaches described in modern economic literature:

1) the essence of money is revealed in accordance with the history of their occurrence (commodity origin);

2) The essence of money is determined through the functions they perform. With this approach, the disclosure of the essence of money does not matter - the functions that they can perform, and, accordingly, the role that money is played in modern economy;

3) The essence of money is determined by a number of common properties that characterize their internal content regardless of the entire variety of forms and species.

First approach: Disclosure of the essence of money in accordance with their commercial origin

The first approach is characteristic of the Marxist and derivatives of economic thoughts. Emphasizing the commercial origin of the money, K. Marx noted that when closed natural economy All the necessary products were made and consumed within their own household, there was no need for the exchange of goods and money as a means of exchange was not needed. As economic activity is expanded as a result of the specialization of production and division of labor, when a closed household has already become unable to produce all products itself, a natural manual emergence arose. Goods exchanged goods. Historically, the development of commercial exchange occurred by changing the cost: from a simple or random to a complete or deployed value of value and then to universal and monetary value of the cost. In the Marxist determination of the money, the money is of paramount importance, which is the product of a special kind, whose appointment is to serve as a general equivalent for other goods. K. Marx in his writings many times formulated the essence of money, remaining at the position that "a special product that represents the adequate genesis of all goods, or the exchange cost of goods as a special specific product, and there is money." Such a definition of money is undoubtedly applicable to valid (full-fledged) money, but cannot express the essence. modern forms and types of money that are defective.

In the 70s of the 20th century, a discussion on the nature and functions of modern credit money unfolded among domestic economists. The idea of \u200b\u200b"representative strength" ("representative value") of modern money appeared, i.e. Credit money, not exchanged for gold, are representatives of real full-fledged money, the functions of which are still performing gold. In more than 30 years, we understand the importance of the discussion for the development of the theory of money, but at the same time the emergence of new forms and types of money indicates that money is increasingly "come off" from its marketable nature.

The second (functional) approach to the disclosure of the essence of money

The second and most common approach in the West to determine the essence of money is a functional approach to the essence of money. It is characterized by attitude towards money as a tool, spontaneously created (more precisely selected among many alternatives) by a market economy to solve the problems of the commercial economy. As money in the economy, only those tools that were able to fulfill the functions dictated by the market were able to be able to fully. Thus, the essence of money is determined by the functions performed.

However, it should be noted that the "internal" content of the money cannot be reduced only to the functions performed by them, since the properties of money remain in the shade.

Some pragmatism in the approach to the essence of money, when not so much the content of this category is important, how much the essence is as such, the role played by money in the economy leads many economists to a simplified definition of money that we meet in modern special literature.

Perhaps for this reason, many foreign economists do not attach great importance to the formulation of the concept of modern money, simplifying it and defining as a "public phenomenon" (L. Harris), "artificial social convention" (P. Samuelson), "Temporary capacity of the purchasing power" ( M. Fridmen), "All that is usually taken to pay for goods and services or to compensation for debts" (F. Mishkin), "Very specific species economic Blag. or rare goods "(R.L. Miller, A.A. Van-Huz)," The standard item used to exchange things and services "," Money is what money do "(K.R. McConnell, S.L. Bog), etc.

Third approach: Essential money properties

As part of the third approach, we will try to present the essence of money by identifying a number of common properties that characterize their internal content, regardless of all the diversity of forms and species of this subject, based on the fact that "the content, being the defining party of the whole, represents the unity of all composite elements of the object, its properties, internal processes, connections, contradictions, trends, and the form has a way to exist and express content. " First of all, we note that money express certain production relations. This is not only a product, a thing, commitment, but also a totality of economic relations between people in the process of social production and the movement of the social product from production to consumption. The basis of production relations is the property relationship, therefore, the socio-economic content of money expressing production relations varies depending on the production method. Therefore, we can say that social essence of moneyfor example, in conditions of feudalism, a planning-distribution (socialist) economy, capitalist (market) or transitional market economy It will be different when saving the essence of money as such 3.

The emergence of money is associated with commodity production and a fairly high level of development of commercial exchange. Initially, as already noted, the money act as a special socially recognized product - universal equivalent The cost of all other goods. And the money is the product of a special kind, which has internal cost and through which the cost of all other goods is measured, as a result of which commodity exchange is transformed into commodity-money.

As we see, the money appears initially at the exchange stage. Then they begin to serve the entire reproductive process, becoming gradually the reproductive category.

So money is reproductive categorycharacterizing the combination of economic relations.

The reproductive nature of the money appears in the fact that money, acting in the equivalent form of value, have the following features:

* Private work enclosed in the Equivalent product, there is a form of manifestation public laborconcluded in the product in the relative form of value;

* Specific work concluded in the Equivalent product is a form of manifestation of abstract labor concluded in the product speaking in the relative form of value;

* Consumer goods cost is the form of the cost of the value concluded in the product in the relative form of value.

With the development of commodity production, it is money that the money starts to bind all subjects of the market into a single reproductive process. Different use of money and their influence on the development of society is based in many respects that the products are produced by the subjects of the market is not for their own consumption, but for other consumers, which it is sold for money. In other words, the products produced takes the form of goods, and commodity-money relations are made between the participants of the processes of production and sales of goods. Based cash streams In the field of financial and monetary relations, there is an overflow of resources, capital, the general of macroeconomic equilibrium is achieved. Money serves as a means of control and regulation of production and distribution of goods and services. These relationships may be not only inventory, but also monetary, financial, calculated, express certain economic relations within the framework of a national or international economy.

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Turning to the question of the essence of money today, it is possible to single out the following three approaches described in modern economic literature in the general form.

The first approach is characteristic of the Marxist and derivatives of economic thoughts.

In the Marxist determination of the money, it is paramount imported to the fact that money is the product of a special kind, the appointment of which is to serve as a universal equivalent for other goods.

The second, but our classification and the most common approach in the West to determine the essence of money is a functional approach to the essence of money. It is characterized by attitude towards money as a tool, spontaneously created (more precisely selected among many alternatives) by a market economy to solve the problems of the commercial economy. Only the TC tools were able to resist money in the economy, which were able to fully perform the function dictated by the market. Thus, the essence of money is determined by the functions performed.

However, it is necessary to dismiss that the "internal" content of the money cannot be reduced only to the functions performed by them, since the properties of money remain in the shade.

As part of the third approach, we will try to present the essence of money by identifying a number of common properties that characterize their internal content, regardless of the entire diversity of forms and species of this subject, based on the fact that the content, being the defining party of the whole, represents the unity of all components of the object, its properties , internal processes, bonds, contradictions, trends, and the form has a way of existence and expression.

Money is one of the greatest inventions of humanity, have a long history of development and have a huge impact on the market economy: business entities in the market conditions are constantly operated by the cost, cash categories, use them as a generalized indicator of the rationality of the actions of firms and households. The excursion in the history of forms and types of money allows us to conclude a cardinal change in the form of money and as a result - the appearance of substitutes for money. However, whether their essence is changed today and developing in the future, their essence as economic category? It would seem, a simple question: what is money? But it still remains open. Many generations of economists have tried and try to reveal the essence of "familiar strangers." But there is no definition of the essence of money that is unambiguously recognized by all economists.

From a philosophical point of view, the essence of money is the internal content of the subject, in this case of money, expressed in the unity of all diverse and conflicting forms of his being. Consequently, the forms of being of money can be diverse and contradictory, but their essence (internal content) must remain unchanged, otherwise it will be about the essence of another concept that cannot be called money.

3.2. Discussion of the issue of the essence of money, approaches to its definition

Turning to the question of the essence of money today, it is possible in the general form to highlight the following approaches described in modern economic literature:

the essence of money is revealed in accordance with the history of their occurrence (by commodity origin);
the essence of money is determined through the functions they perform. At the same time, the approach is important functions that they can perform, and, accordingly, the role that money is played in the modern economy;
the essence of money is determined by a number of common properties that characterize their internal content regardless of the entire variety of forms and species.

First approach: Disclosure of the essence of money in accordance with their commercial origin

The first approach is characteristic of the Marxist and derivatives of economic thoughts. Stressing the commercial origin of the money, K. Marx noted that with a closed natural economy, all the necessary products were made and consumed within their own household, there was no need for the exchange of goods and money as a means of exchange was not needed.

As economic activity is expanded as a result of the specialization of production and division of labor, when a closed household has already become unable to produce all products itself, a natural manual emergence arose. Goods exchanged goods. Historically, the development of commercial exchange occurred by changing the cost: from a simple or random to a complete or deployed value of value and then to universal and monetary value of the cost. In the Marxist determination of the money, the money is of paramount importance, which is the product of a special kind, whose appointment is to serve as a general equivalent for other goods. K. Marx in his writings many times formulated the essence of money, remaining at the position that "a special product that represents an adequate being of the exchange value of all goods, or the exchange value of goods as a special specific product and there is money." Such a definition of money is undoubtedly applicable to real (full-fledged) money, but cannot express the essence of modern forms and types of money, which are defective.

In the 70s of the twentieth century, discussion on the nature and functions of modern credit money unfolded among domestic economists. The idea of \u200b\u200b"representative strength" ("representative value") of modern money, i.e. credit money, not exchanged for gold, are representatives of real full-fledged money whose functions are performed by gold. For more than 30 years, we understand the importance of the discussion for the development of the theory of money, but at the same time the emergence of new forms and types of money indicates that the money is increasingly "come off" from its commodity, real nature.

The second (functional) approach to the disclosure of the essence of money

The second in our classification and the most common approach in the West to determine the essence of money is functional approach To the essence of money. It is characterized by attitude towards money as a tool, spontaneously created (more precisely selected among many alternatives) by a market economy to solve the problems of the commercial economy. As money in the economy, only those tools that were able to fulfill the functions dictated by the market were able to be able to fully. Thus, the essence of money is determined by the functions performed.

However, it should be noted that the "internal" content cannot be reduced only to the functions performed by them, since the properties of money remain in the shade.

Perhaps for this reason, many foreign economists do not attach great importance to the formulation of the concept of modern money, simplifying it and defining as a "public phenomenon" (L. Harris), "artificial social convention" (P. Samuelson), "Temporary Apartment Purchase Force" (M . Friedman), "Everything that is usually taken to pay for goods and services or to compensation for debts" (F. Mishkin), "A very specific type of economic benefit or rare goods" (R.L. Miller, D. D. Wang-Huz ), "The standard item used for the exchange of things and services", "Money is what money makes" (K.R. McConnell, S.L. M. Macconnell, etc.

Third approach: Essential money properties

Within the framework of the third approach, we will try to present the essence of money by identifying a number of common properties that characterize their internal content, regardless of the diversity of forms and species of this subject, based on the fact that "the content, being the defining party of the whole, represents the unity of all components of the object, its Properties, internal processes, connections, contradictions, trends, and the form has a way of existence and expressions. "

First of all, we note that money expresses certain production relations. This is not only a product, a thing, commitment, but also a totality of economic relations between people in the process of social production and the movement of the social product from production to consumption. The basis of production relations is the property relationship, therefore, the socio-economic content of money expressing production relations varies depending on the production method. Therefore, we can say that the social essence of money, for example, in the conditions of feudalism, a planning-distribution (socialist) economy, capitalist (market) or transitional to a market economy will be different when maintaining the essence of money as such.

The emergence of money is associated with commodity production and a fairly high level of development of commercial exchange. Initially, as already noted, the money acts as a special socially recognized product - the universal equivalent of the value of all other goods. And the money is the product of a special kind, which has internal cost and through which the cost of all other goods is measured, as a result of which commodity exchange is transformed into commodity-money.

As we see, the money appears initially at the exchange stage. Then they begin to serve the entire reproductive process, becoming gradually the reproductive category.

Thus, money is a reproductive category that characterizes the combination of economic relations.

The reproductive nature of the money appears in the fact that money, acting in the equivalent form of value, have the following features:

private work concluded in the Equivalent product, there is a form of manifestation of social labor concluded in the product in the relative form of value;
specific work concluded in the product-equivalent is a form of manifestation of abstract labor concluded in the product, acting in the relative form of value;
the consumer value of the goods is the form of the cost of the value concluded in the product in the relative form of value.

With the development of commodity production, it is money that the money starts to bind all subjects of the market into a single reproductive process. Different use of money and their influence on the development of society is based in many respects that the products are produced by the subjects of the market is not for their own consumption, but for other consumers, which it is sold for money. In other words, the products produced takes the form of goods, and commodity-money relations are made between the participants of the processes of production and sales of goods. Based on cash flows in the field of financial and monetary relations, it is overflowing resources, capital, the general macroeconomic equilibrium is achieved. Money serves as a means of control and regulation of production and distribution of goods and services. These relationships may be not only inventory, but also monetary, financial, calculated, express certain economic relations within the framework of a national or international economy.

Modern money outwardly act as a totality of certain obligations: a banknote - as an obligation central Bank, non-cash money - as an obligation commercial Bank etc. These commitments are regulated by the relevant regulatory acts. Is it possible on this basis by adhering to the logic of the nominalistic theory of money, saying that modern money is essentially not an economic, but legal category? Modern money as a set of commitment is characterized by a very significant, but only one side of the problem, namely the credit nature of modern money (of course, if they are issued on a credit basis). Another side of the problem of money, including in their modern forms, is the ability of money to represent the movement of goods and services on micro- and macroeconomic levels, within the framework of separately taken national Economy And in the global farming as a whole.

As we have already spoken in chapters 1 and 2, the money passed a long history of changing their forms and species. What properties should have money to be recognized money than money differ from monetary surrogates, substitutes, "almost" money or quasi-chain?

Interesting remark on this account is given F.A. Hayek: "There is a questionable representation, as if there is a clear distinctive line between money and non-money - and the law is usually trying to conduct such distinction - in fact incorrectly, if we talk about causal relationships in monetary sphere. We find here more continuum, in which objects with different degrees of liquidity and with different (fluctuating independently of each other) are gradually moving to each other, because they function as money. "And then he notes:" Thesis on the existence of one, clearly defined Things called "money", which can be easily distinguished from other things, is a legal fiction. "

General properties of money

Let us try to highlight the general properties of money, regardless of their forms and species.

Let's start with the fact that money is a kind of asset of society, i.e. something that has its own value. Active of any business entity (individual, firm, state) is a material and intangible wealth in various forms owned by the owner (it can be inventory, raw materials, real estate, securities etc.). In this quality, money is also presented with a certain economic benefit, part of wealth in the form of cash and non-cash money.

In addition, money is high-liquid asset, and the liquidity of monetary assets is higher than the liquidity of all other assets (even financial assetslike promotions and corporate bonds). Money as the most liquid asset allows you to repay the obligations without any transformation of simple transmission of monetary signs or by entries in accounts. No wonder between liquidity and money, the sign of equality is often raised. Although it should be noted that cash has absolute liquidity, the liquidity of non-cash money is lower than in cash, since it depends on the liquidity of the Bank, which is open.

The presentation of money as a specific liquid asset involves consideration of the peculiarities of demand for this asset by the owners and recipients of income, which will be discussed below.

So, it is general that inherent in various forms and types of money in all historical periods of their evolution, is the property of money to be a high liquidity asset. But there are another number of common properties that distinguish money from any other liquid assets. Let us dwell on some of them.

Money as a highly liquid asset has a certain fixed nominal value, in contrast, for example, from the nominal value of financial assets as monetary sumformally indicated, for example, on valuable paper.

Money as the most liquid asset that has a fixed nominal value must be inherent in universality. Money perform in the form of universal immediate exchange to all other goods. As a result, all goods, participating in circulation, find their end consumers. Universality is the property of unhindered fulfillment of obligations towards all subjects offering goods and services in the market. Thus, the money must have universal recognition.

Universal money is provided:

legally. Relevant regulatory acts (constitution, law on monetary system etc.) determined legitimate payment Tool On the territory of the state or group of states united in the currency union. So, in the Constitution Russian Federation (Article 75) notes that monetary unit In the Russian Federation is the ruble of the Russian Federation. The introduction and emissions of other money in the Russian Federation are not allowed;
confidence in the population to money. Usefulness of money as the economic good is preserved even with a decrease in their purchasing powerIf the predictability of changes in the value of money is preserved and their ability to fulfill their functions in the future. If the trust of the population to the money falls, then no regulations Do not make people make savings in the form of cash assets. People will prefer less liquid, but more reliable assets (for example, they will buy gold or land plots).

Money should be inherent in uniformity - standardizedness (interchangeability). This property is inherent in money, as a rule, due to their uniformity, the lack of individual characteristics. As a universal tool, they allow you to carry out free exchange for any good. "Interchangeability facilitates the implementation of transactions: it allows you to organize ownership of values \u200b\u200bin non-cash form Avaras on current accounts, transfers between which are carried out by a simple translation. "

Money must be divisible in order for them to perform their functions in transactions with different amounts.

Money should be distinguished by transportability (i.e., be convenient for transportation), recognizability and fitness for storage, without losing its value, and should also have portability (i.e. high cost per unit weight). It can be said that the transition from one form of money to another, the change of types of money is connected with the desire of a person to make money more convenient for use in the economic turnover, reduce transaction costs When performing various kinds of economic transactions.

An important property of money is and protecting them from fakes, facilitating the state to fight counterfeit. The possibility of fake cash, or "hacking" in relation to funds of non-cash settlements or electronic money, leads to the appearance of false money, which violates stability cash circulation And causes distrust of people to money. Therefore, today not only the protective signs of the bill themselves are not only improved, but also large-scale campaigns for familiarizing people with protective signs of newly issued bills of various advantages (for example, when issuing a new 100-dollar or 20-dollar bills in the United States, Euro bill, new 5000-ruble Covers in Russia). The newest banking technologies are complicated, when introducing which special attention Protection is paid banking systems from hacking.

Theme 1. Backgrounds of money and their essence.

3. Evolution of value forms.

1 . Historical background of money emergence.

Money is used on Earth ≈ 7 Millenniums and are the main factor of progress. Money has become money for 3-5 millennia to the new era

Among the scientists of economists there is no unity of views on the origin of money. There are 2 concepts:

I. rationalistic (subjective approach). This theory explains the origin of money by agreement between people, i.e. People allegedly agreed to use money as a sharing tool. For the first time this concept put forward Aristotle. It is separated by modern economists: P. Samuelson, K. McConnell, S. Ber, J. Gelbrreit. With this approach, money is considered as an artificial social convention. This theory served as the only explanation for the emergence of money until the end of the 18th century (theory of the agreement).

II. Evolutionary theory (objective approach). This theory proves that the money appeared spontaneously, in addition to the will of people as a result of exchange, i.e. of

the commodity world highlighted a special product that fulfills the role of money. For the first time, this theory was put forward by K. Marx. ONDOKAZAL The commercial origin of the money.She happens to be the main one, as it logically proves the nature of the money. This theory explains the origin of money objective reasons, such as:

1) Economic growth and respectively expansion of production. This led to the production of unnecessary products and forced farms to exchange them, destroying their closure;

2) Public division of labor and specialization of commodity producers;

3) property separation of manufacturers of goods, i.e. private property on the means of production. It strengthened the socio-economic separation of individual producers. Economic ties became commodity and money;

4) the need to comply with equivalence when exchanging.

2 . Essence of money.

Money is a very multifaceted and complex category. There is still no clear, recognized by all economists, determining the essence of money. There are the following approaches:

I. Disclosure of the essence of money in accordance with their commercial origin. It is characteristic of the Marxist approach. By K. Marx " Money - this is a special socially recognized productperforming the role of universal equivalent. " Such a definition of money applies to valid (full-fledged) money, but cannot express the essence of modern forms and types of money, which are incomplete, since money is still stronger from their marketable nature. Modern money has lost consideration.

II. The essence of money is defined through the functions they perform (functional approach). This approach is most common in the West. Supporters of this approach (Samuelson, McConnell, BRA, etc.) give such definitions: "Money is any generally accepted means of exchange, anything that will be accepted by all in exchange for goods and services," "Money is an artificial social conventionality. "

III. The essence of money is determined through their internal content and general properties, regardless of all the variety of forms and species. According to this approach, "Money is a reproductive category that characterizes the aggregate of economic relations." This is an extractable form of public relations. Money appears initially at the exchange stage. Then they begin to serve the entire reproductive process, becoming gradually the reproductive category.

Many modern economists use such a definition "Money is a special economic benefit, of course, and freely accepted for all goods and services and the measuring value." This definition allows you to include not only paper bills and coins in the concept of money, but all other types of money (first of all non-cash).

Different forms of money with the present properties:

1. Universal immediate excretion on all other products, universal contact and generally accepted. This distinguishes money from non-cash payment facilities (bills, checks, payment cards). It is provided:

a) legislatively;

b) confidence in the population to money.

2. Perform a highly liquid asset - allow you to repay the obligations without any transformations, simple transmission of monetary signs or by entries in accounts. But:

a) cash - absolutely liquid

b) Non-cash - less liquid.

3. Evolution of value forms.

Public separation Labor led to the permanent exchange of labor products. It demanded their compulsion. The unified basis for all goods is cost (socio-necessary labor costs for their production).

In the development of commodity relations allocate three main stages:

1. Direct merchandise, i.e. Different labor products directly exchanged each other. Formula of this exchange: T - T (goods on the goods).

2. Exchange through the goods Mediator - Special products have been separated from the mass of goods - universal equivalents. These were the most running local goods. Exchange formula: T - T - T.

3. Commodity exchange - exchange through money. Formula acquired modern view: T - D - T.

The development of exchange occurred by changing the following forms of value:

1) simple or random characteristic for an early exchange stage. The excess of goods arose periodically from occasion. The goods that have fallen into the market accidentally measured their cost through another product. However, already in this simple form of value laid the foundations of future money.

Product a \u003d product b

1 Sheep \u003d 1 grain bag.

2) full or deployed. The division of labor and production growth led to the fact that more and more products enters the market. In this case, one product is found when excavating with a multitude of other equivalents and expresses its cost.

3) universal. The product becomes the main purpose of production. Each producer seeks to get a universal product that is needed to all. Therefore, separate goods that play the role of major subjects of exchange (salt, fur) were separated from the commodity world. However, the role of the Universal Equivalent has not yet established over one product, and its alternately performed various goods at different times.

4) monetary . As a result of the further development of the exchange, commodity money was replaced by metals. They were more suitable for the role of universal equivalent due to their natural properties - homogeneity, divisibility, strength, persistence, portability. From this time, the entire commodity world was divided into two parts: one product is money, and all other goods. The consumer value concentrated on the side of all goods, and their cost is on the side of money.

Money was allowed a contradiction between consumer cost and cost.

Topic 2. Types of money and their characteristics.

Turning today to the question of the essence of money, it is possible in the general form to highlight the following approaches described in modern economic literature; one)

the essence of money is revealed in accordance with the history of their occurrence (by commodity origin); 2)

the essence of money is determined through the functions they perform.

In this approach, the disclosure of the essence of money does not matter much - the functions that they can perform, and, accordingly, the role that money is played in the modern economy; 3)

the essence of money is determined by a number of common properties that characterize their internal content regardless of the entire variety of forms and species.

First approach:

Disclosure of the essence of money

In accordance with their commercial origin

As economic activity is expanded as a result of the specialization of production and division of labor, when a closed household has already become unable to produce all products itself, a natural manual emergence arose. Goods exchanged goods. Historically, the development of commercial exchange occurred by changing the cost: from a simple or random to a complete or deployed value of value and then to universal and monetary value of the cost. The Marxist determination of the money is of paramount importance to what money is the product of a special kind, the appointment of which is to serve as a universal equivalent for other goods. K. Marks in his writings many times formulated the essence of money, remaining at the position that "a special product that represents an adequate being of the exchange value of all goods, or the exchange cost of goods as a special specific product, and there is money" 12. Such a definition of money is undoubtedly applicable to real (full-fledged) money, but cannot express the essence of modern forms and types of money, which are defective.

The second (functional) approach to the disclosure of the essence of money

The second according to our classification and the most common approach in the West to determine the essence of money is a functional approach to the essence of money. It is characterized by attitude towards money as a tool, spontaneously created (more precisely selected among many alternatives) by a market economy to solve the problems of the commercial economy.

As money in the economy, only those tools that were able to fulfill the functions dictated by the market were able to be able to fully. Thus, the essence of money is determined by the functions performed.

However, it should be noted that the "internal" content of the money cannot be reduced only to the functions performed by them, since the properties of money remain in the shade.

Perhaps for this reason, many foreign economists do not attach great importance to the formulation of the concept of modern money, simplifying it and defining as a "public phenomenon" (L. Harris), "artificial social convention" (P. Samuelson), "Temporary capacity of the purchasing power" ( M. Friedman), "All that is usually taken to pay for goods and services or to compensation for debts" (F. Mishkin), "A very specific type of economic good or rare goods" (PA Miller, D.L. Wang Huz), "The standard subject used for the exchange of things and services", "Money is what makes money" (Kp McConnell, S.L, BR), etc.

Third approach:

Essential properties of money

properties, internal processes, connections, contradictions, trends, and form

there is a way to exist and express the content "13.

First of all, we note that money expresses certain production relations. This is not only a product, a thing, commitment, but also a combination of economic relations between people in the process of social production and the movement of the social product from production to consumption14. The basis of production relations is the property relationship, therefore, the socio-economic content of money expressing production relations varies depending on the production method. Therefore, we can say that the social essence of money, for example, in the conditions of feudalism, a planning-distribution (socialist) economy, capitalist (market) or transitional to a market economy will be different when maintaining the essence of money as such15.

As we see, the money appears initially at the exchange stage. Then they begin to serve the entire reproductive process, becoming gradually the reproductive category.

Thus, money is a reproductive category that characterizes the combination of economic relations.

The reproductive nature of the money appears in the fact that money, speaking in the equivalent form of value, have the following features :?

private work concluded in the Equivalent product, there is a form of manifestation of social labor concluded in the product in the relative form of value; ?

specific work concluded in the Equivalent product - the ego form of manifestation of abstract labor concluded in the product speaking in the relative form of value; ?

the consumer value of the goods is the form of the cost of the value concluded in the product in the relative form of value.

With the development of commodity production, it is money that the money starts to bind all subjects of the market into a single reproductive process. Different use of money and their influence on the development of society is based in many respects that the products are produced by the subjects of the market is not for their own consumption, but for other consumers, which it is sold for money. In other words, the products produced takes the form of goods, and commodity and money relations are made between participants in the processes of production and sales of goods. Based on cash flows in the field of financial and monetary relations, it is overflowing resources, capital, the general macroeconomic equilibrium is achieved. Money serves as a means of control and regulation of production and distribution of goods and services. These relationships may be not only inventory, but also monetary, financial, calculated, express certain economic relations within the framework of a national or international economy.

Modern money outwardly act as a totality of certain obligations: a banknote - as the obligation of the Central Bank, non-cash money - as a commitment of a commercial bank, etc. These obligations are governed by relevant regulatory acts. Is it possible on this basis by adhering to the logic of the nominalistic theory of money, saying that modern money is essentially not an economic, but legal category? Modern money as a set of commitment is characterized by a very significant, but only one side of the problem, namely the credit nature of modern money (of course, if they are issued on a credit basis). Another side of the problem of money, including in their modern forms, is the ability of money to represent the value of the value of goods and services at the micro- and macroeconomic levels, within the framework of a separate national economy and in the global farming as a whole.

Interesting remark on this account is given F.A. Hayek: "There is a questionable representation that there is a clear distinctive line between money and non-money - and the law is usually trying to conduct such distinction - in fact incorrectly, if we talk about causal relations in the monetary sphere. We discover here rather continuum, in which objects with different degrees of liquidity and different (fluctuating independently of each other) are gradually moving into each other, as they function as money "16. And then he notes: "Thesis

on the existence of one, clearly defined misery, called "money", which can be easily distinguished from other meshs, is a legal fiction "17.

General properties of money

Let us try to highlight the general properties of money, regardless of their forms and species. Let's start with the fact that money is a kind of asset of society, i.e. Something having its own value. Active of any business entity (individual, firm, state) is a material owner

and intangible wealth in various forms (it can be inventory, raw materials, real estate, securities, etc.). In this quality, money is also presented with a certain economic benefit, part of wealth in the form of cash and non-cash money.

In addition, money is a high-liquid asset18, and the liquidity of monetary assets is higher than the liquidity of all other assets (even such financial assets as promotions and corporate bonds). Money as the most liquid asset allows you to repay the obligations without any transformation of simple transmission of monetary signs or by entries in accounts. No wonder between liquidity and money, the sign of equality is often raised. Although it should be noted that cash has absolute liquidity, the liquidity of non-cash money is lower than in cash, since it depends on the liquidity of the Bank, which is open.

The representation of money as a specific liquid asset involves consideration of the peculiarities of demand for this asset by the owners and recipients of income, which will be discussed in chapter 3.

So, it is general that inherent in various forms and types of money in all historical periods of their evolution, is the property of money to be a high liquidity asset. But there are another number of common properties (which we mentioned in chapters 1 and 2), distinguishing money from any other liquid assets. Let us dwell on some of these properties.

Money as a highly liquid asset has a certain fixed rated value19, in contrast, for example, from the nominal value of financial assets as a sum of money, formally specified, we will put on the valuable paper.

Money as the most liquid asset that has a fixed nominal value must be inherent in universality. Money perform in the form of universal immediate exchange to all other products. As a result, all goods, participating in circulation, find their end consumers. Universality is the property of unhindered fulfillment of obligations towards all subjects offering goods and services in the market. Thus, the money must have universal recognition.

Universal money is provided :?

legally. Relevant regulatory acts: and (by the Constitution, the Law on the Monetary System, etc.) defines a legitimate payment facility in the territory of the state or group of states united in the currency union. Thus, in the Constitution of the Russian Federation (Article 75) it is noted that the monetary unit in the Russian Federation is the ruble. The introduction and emissions of other money in the Russian Federation are not allowed; ?

confidence in the population to money. The usefulness of money as the economic good is preserved even with a decrease in their purchasing power, if the predictability of the cost of money is preserved and their ability to perform their functions in the future. If the confidence of the population to the money falls, then no regulatory documents will make people make savings in the form of monetary assets. People will prefer less liquid, but more reliable assets (for example, they will buy gold or land plots).

Money should be inherent in homogeneity - staticization (interchangeability). This property is inherent in money, as a rule, due to their uniformity, the lack of individual characteristics. As a universal tool, they allow you to carry out free exchange for any good. "Interchangeability facilitates the implementation of transactions: it allows you to organize ownership of values \u200b\u200bin the cashless form of Avuarov on current accounts, transferring between which is carried out by a simple translation" 20.