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Social Usage of Money: Which Roles Does Money Play in the Life-Cycle-Stage of Children?

Author

Listed:
  • Klaus Kraemer

    (Department of Sociology, University of Graz)

  • Florian Brugger

    (Department of Sociology, University of Graz)

  • Luka Jakelja

    (Department of Sociology, University of Graz)

Abstract

Money can be used for different purposes. Its use can be driven by economic or non-economic motives. In this paper, we demonstrate the sociological shortcomings in the orthodox understanding of the functioning of money and suggest a heuristic framework in order to investigate the non-economic usages of money in everyday social reality. Firstly, we briefly discuss the basic economic functions of money. Secondly, we argue that sociological functions of money have to be taken into account in order to achieve a better understanding of the social implications of money. Thirdly, on this basis, we present the empirical findings of a quantitative study about everyday usage of money by children aged 7 to 10. The results indicate that in the usage of money by children, there can be found economic as well as social functions of money. Some non-economical usages of money differ depending on social background (class, migration).

Suggested Citation

  • Klaus Kraemer & Florian Brugger & Luka Jakelja, 2017. "Social Usage of Money: Which Roles Does Money Play in the Life-Cycle-Stage of Children?," Working Paper Series, Social and Economic Sciences 2017-04, Faculty of Social and Economic Sciences, Karl-Franzens-University Graz.
  • Handle: RePEc:grz:wpsses:2017-04
    as

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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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