Critical Reflection on the Phenomenon of Money

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In the video slider an interview with one of the creators of the first course

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Hand-picked for you from around the web + original articles published just on the Moral Markets site

Money and Modern Life

“The centrepiece of Simmel’s work is a conceptualisation of exchange, an act between two people that produces value, a ‘third term, an ideal concept which enters into the duality but is not exhausted by it’. This irreducibility is why value can, in the form of money, take on a life of its own, which Simmel describes as ‘the reification of exchange among people, the embodiment of pure function’. Of course, no one said exchange would always be fair: as bandits and medical insurance companies know, one will pay any price to live. Nevertheless, as acts of exchange proliferate, currencies and prices rationalise and standardise value.”

Neoliberalism Has Tricked Us into Believing a Fairytale about Where Money Comes From

“The ideology of handbag economics claims that money is to be generated only through market activity and that it is always in short supply. Request for increased public expenditure is almost invariably met with the response ‘where’s the money to come from?’ When confronted by low pay in the NHS, the British prime minister, Theresa May, famously declared, ‘there is no magic money tree’. So where does money come from? And what is money anyway?”

Philosopher Alan Watts on the Difference between Money and Wealth

“What would you do if money was no object? […] Now money is a fundamental fact of our current constructed reality, even Alan Watts understood that. Barter, exchange, value, currency and what have you – there is absolutely no feasible way around it. So leave your pipe dreams and utopian visions at the door, just entertain the question at face value for now. It’s probing for something much deeper than some cheap ideological economic fix.”

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