M. I. Tugan-Baranovsky on the Duality of Money
Abstract
The article is devoted to the problem of the duality of money. It's Noted that by the beginning of the XX century there had been formed two major streams in the system of theory of money - an "evolutionary" and a "state-legal" ones. Proceeding from this point of view, the author examines M. I. Tugan-Baranovsky's "conjuncture" theory of money which was an attempt to unite these two major streams. The author comes to the conclusion that Tugan-Baranovsky's theory of money takes the specific place in the system of theory of money, as the scholar noted the phenomenon of the duality of money in the form of "money" and "symbol of money" and also maid the prognosis of further development of money.
Keywords:
duality of money, theory of money
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.