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Money, liberty and nonpublic sources of social stability

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  • Max Strietholt

Abstract

Within political philosophy, money has widely been characterized as conferring a negative form of liberty, because it renders the motivational forces behind the preferences of agents both invisible and irrelevant. During the course of this paper, I distinguish between descriptive and normative versions of this claim, and argue that both dismiss fundamental aspects of the practices that constitute modern money. The central thesis of this paper is that money does not, as the normative claim suggests, make nonpublic beliefs dispensable to achieve social stability. Rather, it relocates them from the past into the future.

Suggested Citation

  • Max Strietholt, 2026. "Money, liberty and nonpublic sources of social stability," Review of Social Economy, Taylor & Francis Journals, vol. 84(2), pages 145-185, April.
    • Handle: RePEc:taf:rsocec:v:84:y:2026:i:2:p:145-185
    DOI: 10.1080/00346764.2025.2612022
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