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The Social Life of Money

Author

Listed:
  • Nigel Dodd

    (London School of Economics)

Abstract

Questions about the nature of money have gained a new urgency in the aftermath of the global financial crisis. Even as many people have less of it, there are more forms and systems of money, from local currencies and social lending to mobile money and Bitcoin. Yet our understanding of what money is—and what it might be—hasn’t kept pace. In The Social Life of Money, Nigel Dodd, one of today’s leading sociologists of money, reformulates the theory of the subject for a postcrisis world in which new kinds of money are proliferating. What counts as legitimate action by central banks that issue currency and set policy? What underpins the right of nongovernmental actors to create new currencies? And how might new forms of money surpass or subvert government-sanctioned currencies? To answer such questions, The Social Life of Money takes a fresh and wide-ranging look at modern theories of money. One of the book’s central concerns is how money can be wrested from the domination and mismanagement of banks and governments and restored to its fundamental position as the “claim upon society” described by Georg Simmel. But rather than advancing yet another critique of the state-based monetary system, The Social Life of Money draws out the utopian aspects of money and the ways in which its transformation could in turn transform society, politics, and economics. The book also identifies the contributions of thinkers who have not previously been thought of as monetary theorists—including Nietzsche, Benjamin, Bataille, Deleuze and Guattari, Baudrillard, Derrida, and Hardt and Negri. The result provides new ways of thinking about money that seek not only to understand it but to change it.

Suggested Citation

  • Nigel Dodd, 2014. "The Social Life of Money," Economics Books, Princeton University Press, edition 1, number 10319, June.
  • Handle: RePEc:pup:pbooks:10319
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    References listed on IDEAS

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    Cited by:

    1. Vargha, Zsuzsanna, 2016. "Note from the editor: Buying into finance," economic sociology_the european electronic newsletter, Max Planck Institute for the Study of Societies, vol. 17(3), pages 2-5.
    2. Silva, Vânia G. & Ramalho, Esmeralda A. & Vieira, Carlos R., 2016. "The impact of SEPA in credit transfer payments: Evidence from the euro area," Research in International Business and Finance, Elsevier, vol. 38(C), pages 404-416.
    3. Sartori, Laura & Dini, Paolo, 2016. "From complementary currency to institution: a micro-macro study of the Sardex mutual credit system," LSE Research Online Documents on Economics 67135, London School of Economics and Political Science, LSE Library.
    4. Effosse, Sabine, 2017. "El Cheque En Francia: El Lento Ascenso De Un Medio De Pago De Masas (1918-1975)
      [The history of cheque in France: slow emerging of a retail payment media (1918-1975)]
      ," MPRA Paper 78003, University Library of Munich, Germany.
    5. Sokol, Martin, 2017. "Financialisation, financial chains and uneven geographical development: Towards a research agenda," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 678-685.
    6. Dodd, Nigel, 2015. "Redeeming Simmel's money," LSE Research Online Documents on Economics 65135, London School of Economics and Political Science, LSE Library.
    7. Camille Meyer & Marek Hudon, 2017. "Alternative organizations in finance: commoning in complementary currencies," Working Papers CEB 17-015, ULB -- Universite Libre de Bruxelles.

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