Image Image Image Image Image Image Image Image Image Image

Ufuk Hattı | October 18, 2017

Scroll to top

Top

No Comments

DEBT BASED MONETARY SYSTEM

DEBT BASED MONETARY SYSTEM

| On 14, Eki 2014

DEBT BASED MONETARY SYSTEM

CIE44 & IMSS’14 Proceedings, 14-16 October 2014, Istanbul / Turkey, Pages: 2315-2323
DEBT BASED MONETARY SYSTEM

M. Gündoğan 1,1 and B. G. Çetiner 2
1
Department of Industrial Engineering
Faculty of Engineering and Natural Sciences
Yıldırım Beyazıt University, Ankara, Türkiye
metegundogan@ybu.edu.tr

2
Department of Industrial Engineering
Faculty of Engineering, Marmara University, Istanbul, Türkiye
gultekin.cetiner@marmara.edu.tr

ABSTRACT
Application of systems engineering can be modelled in such different layers respectively as
product, project, business, industry and socio-economic systems. A bottom-up view reveals that
many products constitute a system. Many projects constitute a business. Many businesses
constitute an industry. Many industries may constitute to a socio economic system. In a general
application, industrial/systems engineers take this bottom-up view to their problem solving
efforts as well as educational/training syllabus. It is assumed that a top-down view would result
in similar consequences.

From a top-down approach, a socio economic system is an integrated system. One part of it is
dealing with the production of goods and services and counter part of it is dealing with the
production of money. Production of goods and services is a well-studied and well-defined scope.
On the other hand, production of money is not well-studied by systems/industrial engineers.
Having the concept of reciprocity in mind, production of money is creating significant problems
that cannot be underestimated. Current production of money is based on a Debt Based Monetary
System (DBMS) whıch is behaving irrespective of the production of goods and services.
This article is explaining the DBMS and its deficiencies to support its reason of existence i.e.
production of goods and services. Furthermore, it advises some fundamentals to come up with a
sustainable socio economic system.

Keywords: Debt Based Monetary System, Systems Engineering, Fractional Reserve System,
Fractional Reserve Banking.

FULL PAPER: imss14-cie44-579-DEBT BASED MONETARY SYSTEM

DEBT-BASED-MONETARY-SYSTEM