Historiosophical aspects of the monetary globalization

Abstract

This article is devoted to the monetary globalization – it is a concept that was at first designed and introduced in academician use by the author in the previous article (Journal of European Economy, vol. 19, No. 3, 2020, pp. 395–408). While the first article considered its geoeconomic aspects – namely the geographical spreading and universalization of the monetary relations, this article focuses on historiosophical aspects – that is, understanding the patterns of development of monetary relations in the context of their globalization. It is emphasized that the emergence of money occurred near simultaneously in different civilizations and the European model was not predestined to become a standard for the world monetary system, but its superiority was ensured in the complex centuries-old globalization process. This concerned not only the formation and spread of monetary relations in the world, but also their universalization, which played a very important role in economic globalization. In this regard, the author points to the role of the state, especially in the last stages of globalization, starting with the formation of the gold standard in the 19th century and ending with the introduction of the Bretton-Woods monetary system and modern processes of its modernization.