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Money: Ontology and Deception

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  • John R Searle

Abstract

Money is a status function. This article works out the implications and consequences of that fact. There are ten functions and features of money and a number of common mistakes and deceptions in the institution of money. The most important of deceptions is the illusion that money, in order to function, must be ‘backed by’ something.

Suggested Citation

  • John R Searle, 2017. "Money: Ontology and Deception," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(5), pages 1453-1470.
    • Handle: RePEc:oup:cambje:v:41:y:2017:i:5:p:1453-1470.
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    File URL: http://hdl.handle.net/10.1093/cje/bex034
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    Citations

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    Cited by:

    1. Ann E. Davis, 2018. "The New Triffin Dilemma," Review of Radical Political Economics, Union for Radical Political Economics, vol. 50(4), pages 691-698, December.
    2. Jamie Morgan, 2023. "Systemic stablecoin and the brave new world of digital money," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 47(1), pages 215-260.
    3. Phil Faulkner & Stephen Pratten & Jochen Runde, 2017. "Cambridge Social Ontology: Clarification, Development and Deployment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 41(5), pages 1265-1277.
    4. Ehret, Michael & Olaniyan, Rotimi, 2023. "Banking the unbanked. Constitutive rules and the institutionalization of mobile payment systems in Nigeria," Journal of Business Research, Elsevier, vol. 163(C).

    More about this item

    Keywords

    Ontology; Money; Status function;
    All these keywords.

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