TY  - JOUR
T1  - Time-Based Money System
AU - Kala, Tomas 
JO  - The Social Sciences
VL  - 14
IS  - 11
SP  - 388
EP  - 391
PY  - 2019
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2019.388.391
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2019.388.391
KW  - Fiat money
KW  -debt-based money system
KW  -value-based money system
KW  -fractional-reserve banking
KW  -time-based money system
KW  -appropriate
AB  - 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.
ER  -