Topic:On Modern Monetary Theory of System

Speaker:Professor Chen Caihong​,School of Finance, Zhongnan University of Economics and Law

Host:Professor Chen Sichong​,School of Finance, Zhongnan University of Economics and Law

Reviewer:Li Renzhi, Ph.D. Candidate​,School of Finance, Zhongnan University of Economics and Law

Time:3:00–5:00 PM, Thursday, June 5, 2025​

Location:Room 401, South Wenquan Building​

Abstract

Throughout the evolution of monetary history, diverse monetary theories have arisen, each defining "money" through its own lens. Constrained by their historical contexts, these theories emphasize their uniqueness, highlighting internal logical coherence while neglecting inter-theoretical historical and logical connections. Consequently, the "money" conceptualized across theories varies drastically, forming a fragmented monetary taxonomy that confounds modern understanding.

Against this backdrop, returning to money’s origins—tracing its historical trajectory and examining the developmental contexts and deductive logics of various theories—holds profound historical and practical significance. By systematizing relationships between different monetary concepts, we can elucidate the structure and future trajectory of modern monetary systems.

This lecture will present in-depth research on monetary theories, identifying the historical-logical thread of their development and clarifying their dialectical relationships. Employing Kuhn’s "paradigm theory" and a tripartite framework analyzing money’s essence, functions, and forms, we will establish a research paradigm to discuss "money" across theories. Through systematic logic, disparate monetary concepts will be integrated into a unified paradigm, enabling a redefinition of modern money and addressing critical questions about the composition and evolutionary trends of contemporary monetary systems.

Speaker

Chen Caihong​​ is a Distinguished Professor and Doctoral Advisor at Zhongnan University of Economics and Law, and Co-Chairman of its Financial Alumni Association. Former Board Secretary of China Construction Bank, he graduated from Hubei University of Economics (now Zhongnan University of Economics and Law) in 1982 with a degree in Capital Construction Finance and Credit (Class of 1977).