Monetary plurality in economic theory

Ahmed, Pepita Ould; Marques-Pereira, Jaime; Maux, Laurent Le; Desmedt, Ludovic; Blanc, Jérôme; Théret, Bruno

doi:10.4324/9781315272238-2

Cited by 11 publications

(7 citation statements)

References 17 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Thus, Corragio, Feliz and Ingham’s reflections focus on the crisis that the plurality of money reveals rather than on an analysis of the trueque or provincial currencies themselves. In this respect, their analysis reflects the tendency of neo‐Marxian and neo‐Chartalists to conceive monetary uniqueness as the norm, and its plurality as a symptom of crisis, as highlighted by Blanc et al () (see, for instance, Wray ; Aglietta and Orléan : 81, Orléan : 113–24; Fine and Lapavistas ). Historians, on the other hand, underline that money plurality can be found in a variety of non‐crisis contexts.…”

Section: Introductionmentioning

confidence: 84%

Money as a social relation beyond the state: a contribution to the institutionalist approach based on the Argentinian trueque

Saiag

2018

British Journal of Sociology

View full text Add to dashboard Cite

This paper provides a contribution to the institutionalist approach to money through ethnographic research carried out in two local currency systems in Argentina (known as trueque). It argues that Argentinian local currencies must be considered as monies in their own right even if they differ from state and bank issued currencies, because they can be understood as systems of evaluation and settlement of debts denominated in a specific unit of account (the crédito). Money is said to be an ambivalent social relation because in the two cases studied it mediates very different dynamics, exacerbating inequality in one context and promoting collective emancipation in another. This difference is due to the kind of political communities that the crédito tends to forge. In both Rosario and Poriajhu, the political community is defined by a set of values that legitimizes ongoing monetary practices and institutions rather than the State's coercion.

show abstract

Section: Introductionmentioning

confidence: 84%

Money as a social relation beyond the state: a contribution to the institutionalist approach based on the Argentinian trueque

Saiag

2018

British Journal of Sociology

View full text Add to dashboard Cite

show abstract

“…Firstly, because the notion of an agreement presupposes some degree of consent, consciousness, or intentionality by its users, we argue it might not always be the case, particularly with the dominant "national" currencies, as we will explore further on. Secondly, because it overstates the exchange function of money, specifically over the unit of account function, that is more overreaching and sounder from a sociological, anthropological, and ecological standpoint [18,38]. More than a social technology that shapes social relationships and institutionalizes value [39], money should be taken as a language that creates commensurability and comparability among the different goods and services [14,40].…”

Section: An Ecological Ontology Of Moneymentioning

confidence: 99%

Revisiting the Missing Link: An Ecological Theory of Money for a Regenerative Economy

Alves¹,

Santos²,

Penha‐Lopes

2022

Sustainability

View full text Add to dashboard Cite

Money is critical for a regenerative future. Transforming it is an unavoidable social, political, and economic endeavor that must be a global priority if we are to prevent future financial crises, reduce economic inequality and adhere to our climate agreements and sustainability goals. For this transition to occur, we urgently need new economic and monetary paradigms that address the root causes of our current unsustainability, offer a new monetary ontology and design, and, more importantly, steer our monetary regime towards the regeneration of our social, economic and ecological landscapes. We need an Ecological Monetary Theory grounded in Ecological Economics and an Ecological Value Theory that lays down the foundations for the conscious democratization, decentralization, and diversification of money. In this work, we revisit and update the missing link between money and sustainability by proposing new ontological avenues and reviewing the design elements and degenerative processes built into the existing system. We also contribute to the development and emergence of an Ecological Monetary Theory by systematizing the ongoing monetary transition toward sustainability and by offering a set of principles drawn from the regenerative economics literature for the conscious design of monetary ecosystems that contribute positively to solving our societal challenges of the 21st century.

show abstract

“…When economists deal with the multiplicity of money in its theoretical dimension, they generally conceive this multiplicity as governed by competition. Lastly, theories that consider monetary plurality as a desirable monetary organization (as do Austrians like Mises or Hayek) still see competition between monies or currencies as the main driver of this plurality (Blanc et al, 2018).…”

Section: Competitionmentioning

confidence: 99%

Tensions in the triangle: monetary plurality between institutional integration, competition and complementarity

Blanc

2018

Evolut Inst Econ Rev

Self Cite

View full text Add to dashboard Cite

This text aims at accounting for the plurality of money by emphasizing the delicate and evolving balance of the legal monetary systems and the continued existence of moneys that stay outside, though their continuation is subjected to chronic difficulties. It uses Polanyian concepts to take the wide and increasing variety of money into account and mobilizes criteria able to analyse the variety of links between them. It proposes a framework based on the representation of a "plurality triangle" with institutional integration, complementarity and competition and it analyses the positioning of moneys in this framework as well as tensions that may generate shifts in their positioning.

show abstract

Monetary plurality in economic theory

Cited by 11 publications

References 17 publications

Money as a social relation beyond the state: a contribution to the institutionalist approach based on the Argentinian trueque

Money as a social relation beyond the state: a contribution to the institutionalist approach based on the Argentinian trueque

Revisiting the Missing Link: An Ecological Theory of Money for a Regenerative Economy

Tensions in the triangle: monetary plurality between institutional integration, competition and complementarity

Contact Info

Product

Resources

About