Money

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Money
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Marx and Simmel

• Money as objectivation of value (which is
  subjective
• Universal equivalents banter, exchange,
  universal standards e.g. cow hides, then gold,
  then money.
• Increased abstration, also increased spanning of
  time and space

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Simmel

• Money is neither end, or intension, it is an
  abolute means. Money is a tool.
• Coordination of desire
• Centralisation of power
• Embodies possibilities. It is storable over time,
  its potential can be unleashed at any given time

4
Marx

• Value of commodities connected to the amount of
  labour put into its production
• Different forms of exchange
• 1) the simple isolated or accidental form of
  value
• x commodity A y commodity B
• 20yeards linen 1 coat

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Marx

• 2) the total or expanded form of value
• z commodity A u commodity B or v commodity C
  or w commodity D or x commodity E or etc.

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• 3) the general form of value where many
  commodities have a common denominator which
  however also is a commodity
• 1 coat
• 10 lb of tea
• 40 lb of coffee
• 1 quarter of corn
• 2 ounces of gold
• ½ ton of iron
• etc. each is 20 yards of linen

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Marx

• 4) the universal equivalent form.
• 1 coat
• 10 lb of tea
• 20 yards of linen
• 40 lb of coffee
• 1 quarter of corn
• ½ ton of iron
• etc. each is 2 ounces of gold

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• Further abstraction of universal equivalent
• Money as a medium of circulation
• Money of account
• Fiscal crisis money of account transformed into
  hard currency

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Globalisation thanks to abstractness

• Money as abstract symbolic medium
• Parsons Luhmann
• Giddens symbolic tokens, fiduciary system

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Continuing abstraction?

• Simulacrum
• but still money of account)

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Critique of the abstraction thesis

• Zelizer multiple monies with multiple meanings
• Money as a means for territorial control
• Money, trust, and networks

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Analogy to language

• One common language one genral abstarct
  symbolic system, but many ways of using this
  language, dialects, speech acts etc.
• Money as protests against globalisation.