This book provides a new way of understanding modern money and markets by stressing their self-fulfilling/self-destructive properties as institutions from evolutionary perspectives. In contrast to an unrealistic view of the neoclassical general equilibrium theory that models the price mechanism...

The purpose of this article is to evaluate if cryptocurrencies that have robust technology and anonymous features can be the money of the future. In this study, the transition phases of paper money, which started to be used at the beginning of the 17th century, to bank money, then banknotes and...

Research background: Despite the fact that the issue of private, decentralized digital money (cryptocurrencies) is already quite extensively described in the literature dedicated to the financial system, especially its periphery, there is a deficiency in terms of research on the opinions of...

Due to the increasing role of digital payments, demand for commercial bank money and nonbank money is expanding, while that for physical cash is sharply diminishing. The retail central bank digital currency (CBDC) is considered the only safe alternative to compensate for this decrease, as a...