Law of Monetary Circulation: System Analysis

Abstract

System analysis is necessary to establish the boundaries of the law of money circulation and describe the mechanism of its functioning. The concept of the monetary system, which is an integral category reflecting the structure of monetary circulation, allows establishing systemic links between the institutions of money circulation. The elements of the monetary system accurately describe the composition, boundaries and nature of the internal relations of social relations related to the subject matter of the law of monetary circulation. The institutions of the law of money circulation underlie the relations that make up the content of credit money and mediate their emission, as well as relations for the organization and regulation of money circulation, the need for which is due to the fiat nature of money. The institutions of the law of monetary circulation have different industry affiliations, but there is a close functional relationship between them, due to the unity of purpose and the distribution of tasks within the mechanism of monetary circulation. The legal regulation of the circulation of modern money has a private law and public law basis. Interaction between institutions is implemented within the framework of complex legal relations.