Are the words Monetary Standard and Monetary System similar? Its actually a good question I often asked myself until not longer ago I came to a conclusion that they are synonyms but after reading this article by Mirza Saab, I have to a different conclusion to the fact that they are slightly different.
This is important for me because it is a topic I am very much interested in and the analysis proffered by Saab is quite logical. While in common parlance monetary standard is associated by using an object as a unit of account. In most uses of the word, its meaning ends there. With the word monetary system, the regulatorial aspect of the government or other agency comes in, in its definition. Such an approach is logical for me.
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