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Rethinking money

In: A Modern Guide to Rethinking Economics

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  • Jean- François Ponsot

Abstract

This chapter shows that money is more than a purely economic instrument and has consequences for the whole of society. It identifies three perspectives that better reflect the complexity of money: a macroeconomic perspective, based on the post-Keynesian endogeneity of money; an institutionalist perspective identifying money as a social link; a political-economy perspective treating money as an instrument of power and conflicts. Highlighting this three-dimensional nature of money allows us to understand the proliferation of monetary innovations and contestations in the recent past (local currencies, crypto-currencies and so on) that have emerged to challenge the established monetary order and try to reappropriate money.

Suggested Citation

  • Jean- François Ponsot, 2017. "Rethinking money," Chapters, in: Louis-Philippe Rochon & Sergio Rossi (ed.), A Modern Guide to Rethinking Economics, chapter 6, pages 114-128, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16503_6
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    Keywords

    Economics and Finance;

    Statistics

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