The process of monetary changes

The article presents a short review of monetary phenomena in the economic history of mainly the Western world (Western civilization), starting from antiquity to the present day. A certain terminology has been proposed to describe the phenomena of monetary transformations. As a result of a short historical introspection and using the partial induction method and the proposed terminology, three basic phases of monetary changes were identified. These are phases taking place against the background of time and creating a specific cycle of irregular length: monetary innovation, monetary restructuring, monetary reform. Although the cycle of monetary changes is associated with changes in the real economy, we can talk about the autonomy of both cycles – the process of monetary changes and the economic cycle.