Basic foundations of the banking philosophy
Authors: Zubov V.V., Ivlev V.Yu., Oseledchik M.B. | Published: 13.12.2023 |
Published in issue: #6(104)/2023 | |
DOI: 10.18698/2306-8477-2023-6-874 | |
Category: Noname | |
Keywords: bank, banking, philosophy of economics, banking philosophy, inequality, exchange, material values, dematerialized values, semiotic level |
The paper considers problems and contradictions within the banking system that are underlying the financial and economic crises. Financialization of the economy provokes these crises. The need for philosophical analysis of banking is shown to identify true causes and mechanisms of these processes and to develop scenarios for overcoming and preventing such negative phenomena. At the same time, any banking philosophy is missing. For the first time, a set of basic foundations for the banking philosophy is proposed. Banking is based on the principle of material unity of the world, which allows exchanging material values for each other. The system and forms of exchange complication leads to searching for certain universal equivalents. A social-cognitive convention appears regarding recognition of certain objects as such universal equivalents. Thanks to this, the exchange system acquires a symbolic (semiotic) character. Banking initially arises as a way of comparing value of such universal equivalents and organizes complexes of the exchange processes as a system of transferring the purchasing value. Based on social and geographical inequality, a system of loans and credits appears. Gradually, banking starts to use symbolic substitutes for the universal equivalents, which leads to even higher level of semiotization in credit, exchange and settlement operations. The desire to benefit from the symbolic exchange leads to the economy financialization and, accordingly, to the higher risks. It is concluded that it becomes possible to predict the future crises and prevent them by using the philosophical ideas to build a strategy for economic decisions.
EDN: DGHXVG
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