Document Type : Original Article
Authors
1
PhD of Economics, Arak Branch, Islamic Azad University, Arak, Iran
2
Associate Professor, Department of Economics, Arak Branch, Islamic Azad University, Arak, Iran
3
Associate Professor, Department of Economics, Imam Sadegh University, Tehran, Iran
4
Associate Professor, Department of Economics, Payame Noor University, Tehran, Iran
Abstract
Conventional money and the current monetary system are the results of changes in the economic needs of humankind throughout history as well as the result of a major diversion in the transition of economic developments. The Triangle of Fiat Money, Fractional reserve banking, and the Monopoly of Production and Creation money by the Government or the Central Bank, and consequently the Banking System causes Creating Unlimited Liquidity (Super Currency), Government Debt Crisis, Stagnation, Inflation and Stagflation, the manipulation of value of money, currency wars between governments, injustice and its unfortunate social consequences, and uncertainty that indicates a lot of deficiencies in the standard currency and monetary system, as well as the need to review and create Honest money. This research has taken a special place by using the ethics approach in the production and creation of money, which in recent decades has been a subset of the literature on ethics in economics as one of the missing links of economics, while historically inducing money and illustrating the process of monetary change Utilizing the method of historical materialism, Philosophical Realism, Ethical criterion of Honest money, introduces a standard structure for money and the monetary system.
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