ABSTRACT
This chapter investigates the relations between monetary singularity and plurality in the theoretical literature and proposes the different cases of monetary plurality or singularity based on this multi-dimensional definition. It examines the 'plurality' approaches: the strong and the weak plurality approaches, and discusses the 'singularity' approaches: the strong and the weak singularity approaches. The chapter deals with the financial and radical plurality approach developed by new monetary economics, which lies within the analytical framework of general equilibrium. It explores the neo-Mengerian or evolutionary plurality approach, which lies outside the framework of general equilibrium. The chapter focuses on the micro-foundation of monetary singularity approach within the general equilibrium framework, such as the overlapping-generations, cash-in-advance, search-theoretic models and monetarism. It argues the holistic singularity approach that reasons in terms of disequilibrium and antagonistic processes, such as Chartalism, post-Keynesianism and neo-Marxism. The chapter focuses on the surprising oscillation between the postulate of a single money and a logical construction of the monetary plurality.
