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The of means of payment satisfies the equation:
«energy backing standard» =
= ( S+K ) / «potential of energy» (1)
It follows from (1), that
S+K =«energy backing standard» Ч
Ч « potential of energy » (2)
The energy backing standard is the proportionality factor, whose role in the system of macroeconomic management is to control the correspondence of values of instantaneous aggregate nominal paying capacity and real (or possible – in case of pla
The energy backing function in the macroeconomic management system corresponds an assumption that the statistical data to do with the deals, which define the nominal value of means of payment circulation changes slowly from year to year, so such changes must be factored out and contracted. For ‘potential of energy’ we may use either the a
Credit-and-finance system can steadily follow the exchange of goods in the society (and, in particular, in production sector), if S+K, —and energy backing of means of payment respectively, were changing over the time span we are interested in; they grew or drop quite slowly or oscillate within a narrow value band.
Most financial, production and consumer troubles to do with the processes at the macrolevel of economy of a society are the consequences of direct and indirect manipulations with the apparent instantaneous aggregate nominal paying capacity( S+K ) due to ill-will or ignorance. That leads to changes in energy-backing standard of means of payment on a scale of production-consumption system as a whole and on a scale of its functionally specialized components. From historical point of view, ignorance really acts as just a tool of the back-door ill-will: evil is done by fools and ignoramuses who are either explicitly corrupt or suffering from a superiority complex.
The troubles emerge in the following way. A change in ( S+K ), that is an increment D( S+K ), represents a particular volume of issued means of payment (or, vice versa, the demonetization volume), or a change in the volume of money lent. The impact on the credit-and-finance system can be described as pulse and address by which we mean that the emission or credit pulse produces an instant change in the nominal paying capacity of some (not all) would-be buyers or some particular groups.
Having made an instant change in the energy-based standard of means of payment, the pulse D( S+K ) generates a wave of changes in nominal paying capacity, which spreads throughout the trading network in the direction, opposite to the direction of exchange of goods, as the nominal paying capacity of the pulse is getting involved into currency circulation. The wave of changes in nominal paying capacity movement through the money circulation cha
Supposing the initial pulse D( S+K ) was targeted at the production sector, the wave of changes in nominal paying capacity, by means of salaries and incomes of entrepreneurs, will pours out of the production sector onto consumer-items market, so a process of redistribution of nominal effectual demand by the end-product groups. It produces changes in market conditions, which spread all over the sectors, and some time later we can see secondary changes in the intersectoral proportions of profitability and manufacturing indicators used in natural accounting (the initial change makes the wave move through the industrial sector if the initial pulse was inward).
The pulse D( S+K ) produces irreversible transformations of nominal prices, which makes this case different for seasonal fluctuations of paying capacities of different groups of would-be buyers, and of price fluctuations.
When the pulse D( S+K ) ‘spreads’ over a long time span, the wave of changes in prices becomes invisible against the background of heterogeneous price fluctuations; but anyway, there is a slow general change in price scale, which leads to changes in purchasing power of a monetary unit no every single market.
Herein, the changes in purchasing power of people’s incomes and spendings have the top priority for macroeconomics and politics: “A signature of an official” Ю the growth in means of payment volume outgoing the growth rate of production energy backing Ю a loss of purchasing power of incomes and a possible decay of microeconomics into a number of production-wise insolvent pieces of the economics Ю a loss of work motivation and a possible economic crisis” That algorithm was launched in 1991 by Ye. T. Gaydar and it was supported by all the governments until the end of 1999[10].
Obviously, all that those people were taught at school and universities was economics for ‘clerks’. Well, everybody was taught, but they were the ‘best students’. We wonder what have the members of the Economic Department of the former Academy of Science (now Russian Academy of Science) and the less celebrated scientists, been thinking of in for several decades?
When the wave D( S+K ) goes through the production sector, not only does it change the nominal profitability of the businesses, but it also changes the purchasing capacity of their nominal current assets. If the changes in financial indicators of businesses (or sectors) generated by the wave D( S+K ) exceed some limits (which are different for different sectors), then the purchasing power of current assets of one group of businesses (sectors) will become excessive in comparison with their production facilities (when the natural output is calculated) and technologically and economically possible pace of reconstruction and capacity growth, whereas the purchasing power of current assets of the other group of businesses (sectors) will become insufficient.
All the sectors are linked by a technology-wise system of ratios of standard mutual supplies volumes for production needs in each sector for the purpose of its further development. So, if there are supercritical sector disproportions between purchasing power of current assets and production facilities in their natural expressions, the credit-and0finance system loses its capability to assemble a number of microeconomics into a single macroeconomics, whose performance is stable.
The immediate cause of that course of events at a microlevel is that some businesses ca
Sectors with long lasting (in comparison with the decay time of the pulse D( S+K )) production cycles (among which are industrial and residential construction, shipbuilding, agriculture, etyc.), are most sensitive to such kind of macroeconomic impact, due to a slow response to rapid (in comparison with the duration of their production cycles) changes in the market climate, because their current assets are bound in incomplete projects.