Semantics of Money in the World Practice

Abstract

he relevance of this study lies in the need to consider the meaning of money for society in the world practice in greater detail, as money occupies a prominent place in the life of every person, and the emergence of new types, such as cryptocurrency, again raises the issue of the semantics of money. The purpose of this study was to investigate the semantics of money in society through a review of relevant academic literature. The study employed the general scientific methods such as analysis, synthesis, deduction, induction, and generalisation. The following aspects of the semantics of money were identified: cultural, social, and economic. The cultural aspect is characterised by its influence on the economic aspect, as the emergence of interaction between different cultures in using money leads to the development of monetary culture of society, which directly affects the financial activities of people. The social aspect is characterised by subjective and/or stereotypical attitudes towards money as a symbol of wealth, power, or daily chores. From the standpoint of social aspect, money can be used to change the social status of a person, as it is a non-verbal language of communication in society. The most logical aspect of the semantics of money in society can be considered economic, but it should be factored in that it is the means of feedback between a person and money, reflecting not only the influence of money on a person, but also the actual significance of human activity on the development of monetary relations in the form in which society sees them due to cultural and social factors. The practical significance of the information obtained is that it can be considered by researchers for further investigation of the cultural significance of money in the life of society, as well as for detailed analyses of individual aspects of human-money interaction.