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Implications for Money Mechanics

In: Hardwiring Sustainability into Financial Mathematics

Author

Listed:
  • Armen V. Papazian

    (University of Cambridge)

Abstract

This chapter discusses the implications of adopting the space value framework for money mechanics. While hardwiring sustainability into financial mathematics based on the space value of money principle and ensuing equations will require a comprehensive reassessment of instruments and transactions used by money creators, i.e., central and commercial banks, this chapter focuses on the broader systemic considerations given our debt-based monetary architecture. It discusses three major limitations of debt-based money, calendar time, monetary gravity, and monetary hunger, and offers a new money creation logic based on space value creation. It proposes Value Easing through Public Capitalisation Notes as a transactional approach that can also facilitate the funding of the many trillions of dollars needed for the transition to a Net Zero sustainable economy.

Suggested Citation

  • Armen V. Papazian, 2023. "Implications for Money Mechanics," Springer Books, in: Hardwiring Sustainability into Financial Mathematics, chapter 0, pages 115-136, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-45689-3_5
    DOI: 10.1007/978-3-031-45689-3_5
    as

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    More about this item

    Keywords

    Sustainability; Financial Mathematics; Money; Value; Risk; Time; Space; Impact;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G00 - Financial Economics - - General - - - General
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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