The monetary world as an architecture of modernity and power

This article provides an in-depth analysis of the international monetary system, viewed as the material constitution of modern capitalism. The text guides the reader through the evolution of the global financial architecture—from the rigid rules of the gold standard and bimetallism, through the postwar Bretton Woods order, to the contemporary era of floating exchange rates and AI algorithms. The author explains key economic concepts, such as the economic policy trilemma and the Triffin dilemma, placing them in the context of state sovereignty and the democratization of societies. Through the lens of institutions such as the IMF, the text demonstrates how capital flows and monetary decisions define power hierarchies and the limits of stability in the contemporary world, providing a framework for the functioning of welfare states and the global market.