Document Type : Original Article
Authors
1
Depatment of Public international law, Science and Research Branch, Islamic Azad University, Tehran, , Iran
2
Assistant Professor Divinity of Public international Law, Science and Research Branch, Islamic Azad University, Tehran, Iran
3
Assistant Professor Divinit of Public international Law, Science and Research Branch, Islamic Azad University, Tehran, Iran
10.22133/mtlj.2024.424926.1267
Abstract
Governance has various aspects, one of the most important aspects of which is economic governance, which is itself divided into smaller subcategories. The nature of this policy is based on the monetary theories that governments follow, but they all emphasize on the centralization of this policy and control over their implementation as much as possible. Now the question is to what extent the monetary sovereignty of governments has been overshadowed by this technology and to what extent it reduces their control to implement monetary policies.
Money has evolved a lot, from the beginning of its formation to today. Before coins and bills were used to buy goods and services, people used to exchange goods for goods, in other words, they spent their days with barter trade. Merchants used to exchange goods with money such as salt, cocoa, wheat, etc. After that, metals such as gold and silver became common currency, which led to the emergence of coins, then bills, and finally checks. The expansion of trade using financial instruments caused the formation of state banks to become common in Europe from the 15th century.
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