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Financial crises and the nature of capitalist money

Mutual developments from the work of Geoffrey Ingham

  • Book
  • © 2013

Overview

Editors:
  1. Jocelyn Pixley

    1. Macquarie University, Australia
      University of New South Wales, Australia
      Global Policy Institute, London Metropolitan University, UK

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  2. G. C. Harcourt

    1. University of New South Wales, Australia
      Cambridge University, UK
      University of Adelaide, Australia

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Table of contents (16 chapters)

  1. Front Matter

    Pages i-xvii
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  2. Introduction to Positive Trespassing

    • J. F. Pixley, G. C. Harcourt
    Pages 1-18

  3. Requirements of a Philosophy of Money and Finance

    • John Smithin
    Pages 19-30

  4. Ingham and Keynes on the Nature of Money

    • M. G. Hayes
    Pages 31-45

  5. Money: Instrument of Exchange or Social Institution of Value?

    • André Orléan
    Pages 46-69

  6. Group-think and the Current Financial Crisis

    • Charles Goodhart
    Pages 70-78

  7. A New Meme for Money

    • L. Randall Wray
    Pages 79-100

  8. Monetary Surrogates and Money’s Dual Nature

    • David M. Woodruff
    Pages 101-123

  9. Reforming Money to Exit the Crisis: Examples of Non-capitalist Monetary Systems in Theory and Practice

    • Luca Fantacci
    Pages 124-147

  10. The Current Banking Crisis in the UK: An Evolutionary View

    • Victoria Chick
    Pages 148-161

  11. Money and the State

    • Malcolm Sawyer
    Pages 162-177

  12. The Real (Social) Experience of Monetary Policy

    • Sheila C. Dow
    Pages 178-195

  13. Economic Policies of the New Consensus Macroeconomics: A Critical Appraisal

    • Philip Arestis
    Pages 196-215

  14. A Socioeconomic Systems Model of the Global Financial Crisis of 2007+: Power, Innovation, Ideology and Regulatory Failures

    • Tom R. Burns, Alberto Martinelli, Philippe DeVille
    Pages 216-247

  15. Credit Money, Fiat Money and Currency Pyramids: Reflections on the Financial Crisis and Sovereign Debt

    • Bob Jessop
    Pages 248-272

  16. Geoffrey Ingham’s Theory, Money’s Conflicts and Social Change

    • Jocelyn Pixley
    Pages 273-299

  17. Reflections

    • Geoffrey Ingham
    Pages 300-322

  18. Back Matter

    Pages 323-329
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Keywords

About this book

This volume is a debate about a sociology and economics of money: a form of positive trespassing. It is unique in being written by scholars of both disciplines committed to this mutual venture and in starting from the original groundwork laid by Geoffrey Ingham. The contributors look critically at money's institutions and the meanings and history of money-creation and show the cross cutting purposes or incommensurable sides of money and its crises. These arise from severe tensions and social conflicts about the production of money and its many purposes. We demonstrate the centrality of money to capitalism and consider social disorders since the 2007 crisis, which marks the timeliness and need for dialogue. Both disciplines have far too much to offer to remain in the former, damaging standoff. While we are thankful to see a possible diminution of this split, remnants are maintained by mainstream economic and sociological theorists who, after all the crises of the past 30 years, and many before, still hold to an argument that money really does not 'matter'. We suggest, to many different and interested audiences, that since money is a promise, understanding this social relation must be a joint though plural task between economics and sociology at the very least.

Editors and Affiliations

  • Macquarie University, Australia

    Jocelyn Pixley

  • University of New South Wales, Australia

    Jocelyn Pixley, G. C. Harcourt

  • Global Policy Institute, London Metropolitan University, UK

    Jocelyn Pixley

  • Cambridge University, UK

    G. C. Harcourt

  • University of Adelaide, Australia

    G. C. Harcourt

About the editors

Philip Arestis, University of Cambridge, UK Tom R. Burns, Stanford University, USA and University of Uppsala, Sweden Alberto Martinelli, University of Milan, Italy Victoria Chick, University College London, UK Philip DeVille Institute for Economic and Social Research (NIESR), UK Sheila Dow, University of Stirling, UK Luca Fantacci, Bocconi University, Italy Charles Goodhart, London School of Economics, UK Mark Hayes, Cambridge University, UK Bob Jessop, Lancaster University, UK André Orléan, EHESS Paris, France Jocelyn Pixley Malcolm Sawyer, University of Leeds, UK John Smithin, York University, Canada Richard Swedberg, Cornell University, USA David Woodruff, London School of Economics and Political Science, UK L. Randall Wray, University of Missouri-Kansas City, USA Geoffrey Ingham, Cambridge University, UK

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