PURCHASE POWER AS THE NATURE OF CURRENCY

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AGHA NAZARI HASSAN; GHAFOURI CHARKHABI HOSSAIN

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Journal: Journal of Iran's Economic Essays; an Islamic approach Year:2010 | Volume:7 | Issue:13 Page(s): 103-128

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Information Journal Paper

Title

PURCHASE POWER AS THE NATURE OF CURRENCY

Author(s)

AGHA NAZARI HASSAN | GHAFOURI CHARKHABI HOSSAIN | Issue Writer Certificate

Keywords

NATURE OF CURRENCYQ3

NOMINAL VALUE OF CURRENCYQ2

PURCHASE VALUE OF CURRENCYQ3

INTERESTQ2

Abstract

The issue of currency devaluation and whether or not it should be compensated has received much attention from economic and jurisprudence scholars, especially at the time of high inflation. The society has also been involved with the issue. The type of debt payment is closely related with the conception of the NATURE OF CURRENCY. The opponents of compensation of currency devaluation believe that the NOMINAL VALUE OF CURRENCY determines the nature of money. Thus, they believe in this compensation as INTEREST. On the other hand, the proponents believe that the purchase power determines the NATURE OF CURRENCY. Therefore, they stress on compensation of currency devaluation as returning the complete amount that was borrowed and not as INTEREST. The article reasons that the NATURE OF CURRENCY is its purchase value not its nominal value.

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APA: Copy

AGHA NAZARI, HASSAN, & GHAFOURI CHARKHABI, HOSSAIN. (2010). PURCHASE POWER AS THE NATURE OF CURRENCY. JOURNAL OF ECONOMIC ESSAYS, 7(13), 103-128. SID. https://sid.ir/paper/109002/en

Vancouver: Copy

AGHA NAZARI HASSAN, GHAFOURI CHARKHABI HOSSAIN. PURCHASE POWER AS THE NATURE OF CURRENCY. JOURNAL OF ECONOMIC ESSAYS[Internet]. 2010;7(13):103-128. Available from: https://sid.ir/paper/109002/en

IEEE: Copy

HASSAN AGHA NAZARI, and HOSSAIN GHAFOURI CHARKHABI, “PURCHASE POWER AS THE NATURE OF CURRENCY,” JOURNAL OF ECONOMIC ESSAYS, vol. 7, no. 13, pp. 103–128, 2010, [Online]. Available: https://sid.ir/paper/109002/en

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