@article{MAKHILLTSS2019141124819,
    title = {Time-Based Money System},
    journal = {The Social Sciences},
    volume = {14},
    number = {11},
    pages = {388-391},
    year = {2019},
    issn = {1818-5800},
    doi = {sscience.2019.388.391},
    url = {https://makhillpublications.co/view-article.php?issn=1818-5800&doi=sscience.2019.388.391},
    author = {Tomas},
    keywords = {Fiat money,debt-based money system,value-based money system,fractional-reserve banking,time-based money system,appropriate},
    abstract = {The evaluation study is focused on the function of money in management of economic and business
processes. We have postulated a daily or yearly time potential of a state as a commodity for its time-based
money system. Namely, we have defined a new currency, called a "TBM" (for a Time-Based Money) as a value
of the GDP per capita of a specific state divided by the number of minutes per year (525600). We have
calculated TBM values for the USA and for the Czech economies in Span of 2011-2015 years. We have found
that the TBM is an appropriate tool for comparison of economic performances of individual states and also for
evaluating a quality of monetary policy of states and for checking a quality of fulfilling specific tasks by central
bank authorities-like the Board of Governors and the Federal Open Market Committee in the USA or the Board
of Governors of the Czech National Bank while implementing the monetary policy.}
    }