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Postmoney theory: value function in the domain of postmoney

Boyan Christov Ivantchev (Department of Economics, University for National and World Economy, Sofia, Bulgaria)

Foresight

ISSN: 1463-6689

Article publication date: 12 October 2018

Issue publication date: 14 November 2018

314

Abstract

Purpose

The purpose of this study is to research the latest quantitative and qualitative transformations of money and its interaction with the market economy and societies in terms of their influence on the inner nature of money and its transformation from a simple tool to an aim per se, i.e. postmoney. Transforming the perception of the intrinsic value and “soul” of the money into the postmoney, influenced by the rising longevity and wide expectation for the ability to scientifically prolong the human life, will be discussed. This transformation will be confirmed by analysing the results from a national representative sociological survey (panel study with sample size n = 1,000).

Design/methodology/approach

The author uses the following philosophical methodological approaches – comparative-constructive, phenomenological, cognitive and deconstructive analysis.

Findings

The objective and qualitative reasons offered by the postmoney theory (PMT) for the transformation of money into postmoney, are related to the being of temporality, as well as to technologization and the sixth factor of production, scientific exponentiality and mental changes in the human being. A current postmoney survey gives a strong base to believe that the perception of an intrinsic value of postmoney changes the shape of a value function – from logarithmic to linear or even stochastic. This is the reason to believe that increasing of a postmoney quantity will lead to a qualitative transformation and psychological increase of postmoney sensitivity.

Research limitations/implications

The author intends to expand the postmoney survey on the international level so to confirm local findings.

Practical implications

Postmoney survey might be used as a powerful tool in creating and legalizing non-monistic money based on blockchain technologies and philosophical and socio-economic research of the postmoney issue.

Social implications

The future of money is of great importance for the exponentiality of the socio-economic environment and societies. Social impact of the money will be inevitably rising in the domain of postmoney perception.

Originality/value

The author of the current paper coined for the first-time notion of postmoney and now is expanding research developing PMT. As per the best knowledge of the author, shape of the curve of value function was not questioned and believes it might be of help to better understand the money phenomenon.

Keywords

Citation

Ivantchev, B.C. (2018), "Postmoney theory: value function in the domain of postmoney", Foresight, Vol. 20 No. 5, pp. 554-570. https://doi.org/10.1108/FS-06-2018-0069

Publisher

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Emerald Publishing Limited

Copyright © 2018, Emerald Publishing Limited

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