Journal Article

The hypostasis of money: an economic point of view

Jean Cartelier

in Cambridge Journal of Economics

Published on behalf of Cambridge Political Economy Society

Volume 31, issue 2, pages 217-233
Published in print March 2007 | ISSN: 0309-166X
Published online July 2006 | e-ISSN: 1464-3545 | DOI: https://dx.doi.org/10.1093/cje/bel022
The hypostasis of money: an economic point of view

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  • Comparative Economic Systems
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The purpose of this article is to show that money is not an entity but hic et nunc a genuine mode of circulation associated with a genuine social organisation. Criticising money hypostasis may help to to: (i) elucidate the ambivalence of monetary relations in our modern society (equivalence and subordination); (ii) criticise the idea that ‘primitive monies’ are nothing but imperfect forms of our modern money and show that exotic societies are worth studying for themselves; and (iii) relativise the knowledge we have about our societies and to develop comparative analysis. A sketchy comparison between wodani society and ours suggests that an abduction relation exists between money and society.

Keywords: Money; Wodani society; circulation; Abduction; hypostasis; A12; A13; E1; E40; P5

Journal Article.  9863 words. 

Subjects: Comparative Economic Systems ; General Economics ; General Aggregative Models ; Money and Interest Rates

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