IDEAS home Printed from https://ideas.repec.org/a/rvr/journl/201511489.html
   My bibliography  Save this article

L’alternative monétaire Bitcoin : une perspective institutionnaliste

Author

Listed:
  • Lakomski-Laguerre, Odile
  • Desmedt, Ludovic

Abstract

Depuis quelques années, nous assistons à l’émergence de monnaies d’un genre nouveau, reposant sur des procédés cryptographiques, gérées en pair à pair selon un consensus distribué. La plus représentative d’entre elles, le Bitcoin, est lancée après la crise financière de 2008 et vient contester un ordre monétaire fondé sur le crédit et le pouvoir bancaire. Ces crypto-monnaies viennent heurter la conception traditionnelle de la monnaie : unitaire, souveraine, territoriale et centralisée. Par conséquent, elles interrogent la théorie et renouvellent le débat sur la nature de la monnaie. Dans ce papier, nous proposons d’analyser le Bitcoin au filtre d’une théorie institutionnaliste de la monnaie. En tant qu’institution sociale, la monnaie est plus qu’une technologie, car elle participe à la construction d’un espace marchand s’articulant avec un ordre socio-économique. C’est pourquoi nous mettons en évidence les arguments de la contestation et les racines idéologiques qui sous-tendent le système Bitcoin : décentralisation, anti-étatisme (cryptage) et naturalisation de la monnaie (minage). En mettant en avant la notion centrale de confiance, nous nous intéressons ensuite à la capacité du projet Bitcoin à construire un ordre monétaire, certes alternatif, mais stable.

Suggested Citation

  • Lakomski-Laguerre, Odile & Desmedt, Ludovic, 2015. "L’alternative monétaire Bitcoin : une perspective institutionnaliste," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 18.
    • Handle: RePEc:rvr:journl:2015:11489
    as

    Download full text from publisher

    File URL: http://regulation.revues.org/11489
    Download Restriction: no
    File URL: http://regulation.revues.org/pdf/11489
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Henry C. Simons, 1936. "Rules versus Authorities in Monetary Policy," Journal of Political Economy, University of Chicago Press, vol. 44(1), pages 1-1.
    2. Martin Chevalier & Benjamin Vignolles, 2014. "Le bitcoin : défi à la souveraineté monétaire des États et ressource pour le blanchiment d'argent," Regards croisés sur l'économie, La Découverte, vol. 0(1), pages 122-125.
    3. Ingham, Geoffrey, 2004. "The nature of money," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 5(2), pages 18-28.
    4. Bernard Courbis & Éric Froment & Jean-Michel Servet, 1990. "A propos du concept de monnaie," Cahiers d'Économie Politique, Programme National Persée, vol. 18(1), pages 5-29.
    5. Charles Goodhart, 1988. "The Evolution of Central Banks," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262570734, December.
    6. Fischer, Stanley, 1990. "Rules versus discretion in monetary policy," Handbook of Monetary Economics, in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 2, chapter 21, pages 1155-1184, Elsevier.
    7. Martin Chevalier & Benjamin Vignolles, 2014. "Le bitcoin : défi à la souveraineté monétaire des États et ressource pour le blanchiment d'argent," Reflets et perspectives de la vie économique, De Boeck Université, vol. 0(1), pages 122-125.
    8. L. Randall Wray, 2014. "From the State Theory of Money to Modern Money Theory: An Alternative to Economic Orthodoxy," Economics Working Paper Archive wp_792, Levy Economics Institute.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ahmed, Pepita Ould & Ponsot, Jean-François, 2015. "Contestations monétaires : une économie politique de la monnaie," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 18.
    2. Ludovic Desmedt & Odile Lakomski-Laguerre, 2020. "Du monnayage au crypto-monnayage," Post-Print hal-03824689, HAL.
    3. Orléan, André & Alary, Pierre & Desmedt, Ludovic, 2019. "Vers une « théorie générale de la monnaie marchande ». Entretien avec André Orléan," Revue de la Régulation - Capitalisme, institutions, pouvoirs, Association Recherche et Régulation, vol. 26.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Josh Ryan-Collins, 2015. "Is Monetary Financing Inflationary? A Case Study of the Canadian Economy, 1935-75," Economics Working Paper Archive wp_848, Levy Economics Institute.
    2. King, Mervyn, 1997. "Changes in UK monetary policy: Rules and discretion in practice," Journal of Monetary Economics, Elsevier, vol. 39(1), pages 81-97, June.
    3. Piotr Ciżkowicz & Andrzej Rzońca & Andrzej Torój, 2019. "In Search of an Appropriate Lower Bound. The Zero Lower Bound vs. the Positive Lower Bound under Discretion and Commitment," German Economic Review, Verein für Socialpolitik, vol. 20(4), pages 1028-1053, November.
    4. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    5. Leon Wansleben, 2021. "Divisions of regulatory labor, institutional closure, and structural secrecy in new regulatory states: The case of neglected liquidity risks in market‐based banking," Regulation & Governance, John Wiley & Sons, vol. 15(3), pages 909-932, July.
    6. C. Sardoni, 2006. "Why Central Banks (and Money) Rule the Roost," Economics Working Paper Archive wp_457, Levy Economics Institute.
    7. Ludovic Desmedt & Odile Lakomski-Laguerre, 2020. "Du monnayage au crypto-monnayage," Post-Print hal-03824689, HAL.
    8. Francisco Rosende, 1997. "La Autonomía del Banco Central una Vez Más," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 34(101), pages 3-26.
    9. Samuel Demeulemeester, 2020. "Would a State Monopoly Over Money Creation Allow for a Reduction of National Debt? A Study of the “Seigniorage Argument” in Light of the “100% Money” Debates," Research in the History of Economic Thought and Methodology, in: Research in the History of Economic Thought and Methodology: Including a Symposium on Public Finance in the History of Economic Thought, volume 38, pages 123-144, Emerald Group Publishing Limited.
    10. Patrick Horan, 2025. "Milton Friedman and nominal income targeting," Southern Economic Journal, John Wiley & Sons, vol. 91(3), pages 988-1011, January.
    11. Beshenov, Sergey & Rozmainsky, Ivan, 2015. "Hyman Minsky's financial instability hypothesis and the Greek debt crisis," Russian Journal of Economics, Elsevier, vol. 1(4), pages 419-438.
    12. Nicolas Barbaroux, 2014. "The Bank of France and the Open-Market instrument: an impossible wedding?," Working Papers halshs-01069286, HAL.
    13. Samuel Demeulemeester, 2022. "What analytical framework for Sovereign Money? Some insight from the 100% Money literature, and a comment on criticisms," Working Papers hal-03751756, HAL.
    14. Tavlas, George S., 2021. "A Reconsideration Of The Doctrinal Foundations Of Monetary Policy Rules: Fisher Versus Chicago," Journal of the History of Economic Thought, Cambridge University Press, vol. 43(1), pages 55-82, March.
    15. Nicolas Barbaroux, 2014. "The Bank of France and the Open-Market instrument: an impossible wedding?," Working Papers 1423, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
    16. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093, Enero-Abr.
    17. Thierry Warin, 2005. "Monetary Policy: From Theory to Practices," Middlebury College Working Paper Series 0508, Middlebury College, Department of Economics.
    18. Van Den Hauwe, Ludwig, 2017. "Monetary Constitutionalism: Some Recent Developments," MPRA Paper 83052, University Library of Munich, Germany.
    19. Hadrien Saiag, 2014. "Towards a neo-Polanyian approach to money: integrating the concept of debt," Post-Print halshs-02343433, HAL.
    20. Alberto Giovannini, 1990. "European Monetary Reform: Progress and Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(2), pages 217-292.

    More about this item

    Keywords

    Bitcoin; système de paiement; monnaie; cryptographie; banque; confiance; Bitcoin; payment system; currency; encryption; trust; Bitcom; sistema de pago; moneda; criptografía; bancos; confianza;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rvr:journl:2015:11489. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Pascal Seppecher (email available below). General contact details of provider: https://theorie-regulation.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.