Basic foundations of the banking philosophy

The paper considers problems and contradictions within the banking system that are underlying the financial and economic crises. Financialization of the economy provokes these crises. The need for philosophical analysis of banking is shown to identify true causes and mechanisms of these processes and to develop scenarios for overcoming and preventing such negative phenomena. At the same time, any banking philosophy is missing. For the first time, a set of basic foundations for the banking philosophy is proposed. Banking is based on the principle of material unity of the world, which allows exchanging material values for each other. The system and forms of exchange complication leads to searching for certain universal equivalents. A social-cognitive convention appears regarding recognition of certain objects as such universal equivalents. Thanks to this, the exchange system acquires a symbolic (semiotic) character. Banking initially arises as a way of comparing value of such universal equivalents and organizes complexes of the exchange processes as a system of transferring the purchasing value. Based on social and geographical inequality, a system of loans and credits appears. Gradually, banking starts to use symbolic substitutes for the universal equivalents, which leads to even higher level of semiotization in credit, exchange and settlement operations. The desire to benefit from the symbolic exchange leads to the economy financialization and, accordingly, to the higher risks. It is concluded that it becomes possible to predict the future crises and prevent them by using the philosophical ideas to build a strategy for economic decisions.

EDN: DGHXVG

References
[1] Schrader H. Ekonomicheskaya antropologiya [Economic Anthropology]. St. Petersburg, Peterburgskoe Vostokovedenie Publ., 1999, 192 p.
[2] Rau J. Filisofskie predposylki ponimaniya sushchnosti deneg u Georga Zimmelya [Philosophical prerequisites for understanding the essence of money from Georg Simmel]. Pravo i praktika — Law and practice, 2020, no. 1, pp. 159–168.
[3] Oseledchik M.B. Istoki kognitivnogo neravenstva [Origins of cognitive inequality]. Gumanitarnyi vestnik —“Humanities Bulletin” of BMSTU, 2023, no. 3. https://doi.org/10.18698/2306-8477-2023-3-850
[4] Lugovoy O.Yu. Proiskhozhdenie gosudarstva, deneg i nalogov [The origin of the state, money and taxes]. Vestnik OGU — Vestnik of the Orenburg State University, 2006, no. 2–1, pp. 12–118.
[5] Gerashchenko I.G., Gerashchenko N.V. Karl Polanyi ob osobennostyakh ekonomiki traditsionnogo obshchestve [Karl Polanyi on the peculiarities of the traditional society economy]. Studia Humanitatis, 2022, no. 3. Available at: https://st-hum.ru/en/node/1147 (accessed October 25, 2023).
[6] Bachmanova A.A. Issledovanie uslugi kak ekonomicheskoy kategorii [Service as economic category]. Uchenye zapiski Tavricheskogo natsionalnogo universiteta im. V.I. Vernadskogo. Ser. “Ekonomika” — Scientific Notes of the V.I. Vernadsky Taurida National University. Ser. Economics, 2007, vol. 20, no. 1, pp. 18–22.
[7] Menger C. On the origin of money. The Economic Journal, 1892, no. 2–6, pp. 239–255.
[8] Wieser F. “Geld” im Handwörterbuch der Staatswissenschaften. Bd. IV. Jena, Gustav Fischer, 1927, 332 p.
[9] Schumpeter J.A. Das W des Geldes. Gottingen, Vandenhoeck & Ruprecht, 1970, 341 p.
[10] Schumpeter J.A. Das Sozialprodukt und die Rechenpfennige. Glossen und Beiträge zur Geldtheorie von Heute, in Ar für Sozialwissenschaft und Sozialpolitik, 1917, no. 44, pp. 627–715.
[11] Lavrushin O.I., Kishlakova N.M., Makhamatov T.M. Metodologiya issledovaniya denezhno—kreditnykh otnosheniy [Methodology for studying monetary relations]. Gumanitarnye nauki — The Humanities, 2014, no. 1, pp. 80–84.
[12] Simmel G. The Philosophy of Money. 1st, 2011 [In Russ.: Zimmel G. Filosofiya deneg. In A.F. Filippov, ed. Theory of society. Fundamental problems. Moscow, KANON-Press-Ts, Kuchkovo Pole Publ., 1999, pp. 309–383].
[13] Soros J. The Alchemy of Finance. Wiley, 2015 [In Russ.: Soros Dzh. Alkhimiya finansov. Moscow, Dialektika Publ., 2011, 347 p.].
[14] Belyaev G.Yu. Sotsiokulturnye matritsy sotsializatsii – kulturno-istoricheskie vektory kulturnykh form vospitaniya [Sociocultural matrices of socialization – cultural-historical vectors of education forms]. Problemy sovremennogo obrazovaniya — Problems of Modern Education, 2012, no. 2, pp. 21–33.