The Academy of Sciences of IR Iran Development of humanities 2676-5551 5 9 2024 09 21 The necessity of a comprehensive understanding of economics is the missing link in policymaking (foreign currency studies field) The necessity of a comprehensive understanding of economics is the missing link in policymaking (foreign currency studies field) 87 109 208040 10.22047/hsd.2024.474403.1024 FA Fatemeh Sadat Jafariyeh Ph.D of Economics, Shahid Beheshti University 0000-0001-6033-7965 Hossein Mirzaei MS.c of Economic systems planning. Shahid Beheshti University 0000-0002-7911-0469 Journal Article 2024 07 30 Some domestic economists following the school of liberalism, before the comprehensive aristocracy on economic ideas, like the early economists 300 years ago, with the mistake of other scientific frameworks, under the argument firstly, the protection of private property rights and secondly, the assumption of individual freedom that maximizes the interests of society, provide the theoretical basis for Increasing jumps in exchange rates. This article, utilizing the thoughts of capitalist economic reformers, firstly expands the definition of assets and ownership, and by distinguishing between two types of tangible and intangible assets and tangible and intangible ownership, which have been completely overlooked in free-market economic thoughts, considers the recommendation to liberalize the exchange rate and any monetary and fiscal policy that reduces the purchasing power of people and intangible assets as a deprivation of their freedom and ownership. It considers the intervention of the sovereignty to protect the intangible property rights of the common people as an inherent duty of the sovereignty. In this theoretical framework, mere attention to the private property rights of major foreign currency resource holders is irrelevant. Secondly, this article, by rejecting the obsolete assumption of harmony between individual interests in the laissez-faire system, does not consider individual freedom and market prices as maximizers of public benefits. To maximize societal benefit, the hand of sovereignty, rather than the invisible hand of the market, can establish order in the market and fair prices by regulating the rules shaping supply and demand. The liberalism economy, due to its lack of understanding of the concept of conflict of interest, despite the monopolistic structure on the supply side of Iran's foreign currency economy, promotes the liberalization of the exchange rate by the market and the elimination of sovereignty authority in favor of exporters. The important point is that according to this attitude, any price, even the monopoly and rent-seeking multi-rate price in the foreign exchange market is legitimized by the credit of the government. The foundational thought of freedom in the laissez-faire economy is based on the philosophy of natural order and the teachings of social Darwinism, devoid of justice-oriented thoughts, which considers survival only for major foreign currency holders at the expense of the livelihood of the general populace. Some domestic economists following the school of liberalism, before the comprehensive aristocracy on economic ideas, like the early economists 300 years ago, with the mistake of other scientific frameworks, under the argument firstly, the protection of private property rights and secondly, the assumption of individual freedom that maximizes the interests of society, provide the theoretical basis for Increasing jumps in exchange rates. This article, utilizing the thoughts of capitalist economic reformers, firstly expands the definition of assets and ownership, and by distinguishing between two types of tangible and intangible assets and tangible and intangible ownership, which have been completely overlooked in free-market economic thoughts, considers the recommendation to liberalize the exchange rate and any monetary and fiscal policy that reduces the purchasing power of people and intangible assets as a deprivation of their freedom and ownership. It considers the intervention of the sovereignty to protect the intangible property rights of the common people as an inherent duty of the sovereignty. In this theoretical framework, mere attention to the private property rights of major foreign currency resource holders is irrelevant. Secondly, this article, by rejecting the obsolete assumption of harmony between individual interests in the laissez-faire system, does not consider individual freedom and market prices as maximizers of public benefits. To maximize societal benefit, the hand of sovereignty, rather than the invisible hand of the market, can establish order in the market and fair prices by regulating the rules shaping supply and demand. The liberalism economy, due to its lack of understanding of the concept of conflict of interest, despite the monopolistic structure on the supply side of Iran's foreign currency economy, promotes the liberalization of the exchange rate by the market and the elimination of sovereignty authority in favor of exporters. The important point is that according to this attitude, any price, even the monopoly and rent-seeking multi-rate price in the foreign exchange market is legitimized by the credit of the government. The foundational thought of freedom in the laissez-faire economy is based on the philosophy of natural order and the teachings of social Darwinism, devoid of justice-oriented thoughts, which considers survival only for major foreign currency holders at the expense of the livelihood of the general populace. https://hsd.ias.ac.ir/article_208040_17856985c3ba6e3ba7d7cf65a8c13d43.pdf