CONCEPTUAL FOUNDATIONS OF THE BRICS+ COUNTRIES SOVEREIGN MONETARY SYSTEMS CREATION

Titov Petr Mikhailovich, Candidate of Economic Sciences, Vice-President of ANO “International Alliance for Strategic BRICS Projects”

Berg Dmitry Borisovich, Professor of the Ural Federal University, Advisor to the ANO “International Alliance for Strategic BRICS Projects”, Doctor of Physical and Mathematical Sciences, Professor

Adiyak Ekaterina Valentinovna, PhD student, Ural Federal University, Institute of Radioelectronics and Information Technologies

Abstract

The article covers the conceptual foundations for the sovereign monetary systems development. Based on the analysis of the categories “system”, “system-forming factor”, “result”, taking into account the basic concepts of management theory in cybernetics, authors concluded that the banking system is an infrastructure and cannot make a profit by regulating its own industry; a variety of appropriate financial instruments is necessary to ensure economic management; the unification of enterprises into production cooperative chains should be supported by the appropriate issue of specialized “project money”. The naturalness of the “monetary systems multiconturality” phenomenon is shown by the example of the duality of the topology of commodity and financial networks. The existence of closed commodity exchange networks is illustrated by the results of the banking transactions analysis between legal entities at the municipal level. System analysis and classification by design features have shown that there may be more than two thousand different types of monetary systems. Based on the theoretical analysis and empirical studies of the money phenomenon, it is proposed to set the task of scientifically based design of sovereign monetary systems not only of the BRICS+ countries, but also of the entire multipolar world.

KEYWORDS: sovereignty, sustainable development, system analysis, dual networks, complementary currencies, monetary system, BRICS.

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