News
21.12.2017

Inter-University Interdisciplinary Seminar “Globalization: a Change of the Paradigm”

The Seminar was conducted 13 December 2017, organized by the Department of World Economy. The topic discussed was new supra-national currency as a basis for multi-production and investment generation.

Faculty and students of RSUH and from a number of other Moscow universities, as well as experts from the RAS and other centers, took part in the seminar.

Dr. Gelvanovsky, Head of the Seminar and Chair of the Department of World Economy, pointed out in his presentation that the world economy today was a new concept compared to the one described in textbooks. The finances, he said, currently dominate over other aspects of economy, yet the paradox lies in the fact that the real power of money is based on notions that are more consensual than real. Nowadays the US dollar is separated from the gold standard thus disassociating the world currencies from any real collateral which puts the world economy in danger.

Dr. Vodyanova (National Institute for Development of the RAS), Dr. Zapletin (RUDN University) and Dr. Minchenkov Center for Investment Projects of the RAS) described a recent research performed by the NID directed toward developing new supranational currency that could become both a stable global currency and a reliable investment generator for Russia and other countries.

Dr. Yershov, Head of the Institute of Enegry and Finance, spoke about differences in currency emission in Russia and the US, pointing out that the US was able to finance its national economy through prioritizing by issuing state bonds whereas in Russia the main investment portfolios were formed through foreign loans and or export-related profit generated by state corporations. 

Dr. Leontiev, Head of the Federal Institute of Certification and Evaluation of Intellectual Property and Business, supported the concept of the supra-national currency and suggested that it be certified.

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