NOUN
- anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
How To Use monetary system In A Sentence
- Yet today, having been unpegged completely from the world monetary system, gold is neither relic nor toilet tile; it is more important than ever, and precisely because the paper value of goods and services is ever-more dependent on the whims of an elite few. Gold and the Barbarians
- Europe's monetary system is falling apart.
- However, a bimetallic monetary system of coinage was also established by the Constitutional mandate to Congress to ‘coin Money, regulate the Value thereof’.
- Most LDCs' affiliation status in international labor division system and its less developed situation in history lead to its subordination and passive status in international monetary system.
- The emerging legal and monetary system allowed exchange over a wide area without having to haul around bulky goods for barter or trade. Sociology
- The emerging legal and monetary system allowed exchange over a wide area without having to haul around bulky goods for barter or trade. Sociology
- It is able to spend this way because it acts as the "scorekeeper" in the US monetary system whose function it is to mark up or mark down the monetary resources of all those who use its monopoly currency. Corrente
- In contrast, our current monetary system is the very perfection of financial boundlessness and unaccountability. Robin Koerner: A Balanced Budget Amendment Would Change Everything
- The gold standard is a monetary system in which paper money is freely convertible into a fixed amount of gold.
- Combined with what the late Ernest Mandel called "extra-economic" factors (such as pliant labor leadership and peaceful trade unionism, establishment of the Bretton Woods international monetary system, Cold War ideology and the suppression or pacification of any possible dissent, and relative decline in the price of oil and other raw materials in the immediate post-WW II period), the New Deal and other government-sponsored reforms ushered in a period of rapid economic expansion that came to be known as the "golden years of US capitalism," which lasted until around 1970. CounterPunch
