Assessment of the current monetary system
This article discusses the problems of interpretation of the functioning of the monetary system. The author identifies and proves the need for co-regulation of the activity of management of institutions and legislative authorities. On the basis of the research the author proposes to allocate some mechanisms of monetary system, which are subject to strict control. Economic activity requires a special tool to divide labor in such a way that all goods and services available in the market have value in certain equivalent. This tool is currency, for operation of which in the monetary system, we need a special rule. The monetary system of the state is the system of currency in the country, which has been developed historically and fixed by national legislation. A similar system was established in the XVI - XVII centuries with the emergence and consolidation of capitalist production, centralized state and national market. The monetary system is one of the most important branches of economics. A well-functioning monetary system promotes full utilization of production capacity and full employment. And on the contrary, poorly functioning monetary system may be the main reason for the sharp fluctuations level of production, employment and prices in the economy, distorting resource allocation.