The Currency of Politics : The Political Theory of Money From Aristotle to Keynes

Money in the history of political thought, from ancient Greece to the Great Inflation of the 1970s In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies—money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule. Money appears to be beyond the reach of democratic politics, but this appearance—like so much about money—is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning. Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money. "Money in the history of political thought, from ancient Greece to the Great Inflation of the 1970s. In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies-money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule.Money appears to be beyond the reach of democratic politics, but this appearance-like so much about money-is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning.Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money"-- Provided by publisher

Money in the history of political thought, from ancientGreece to the Great Inflation of the 1970s In the wake ofthe 2008 financial crisis, critical attention has shifted from theeconomy to the most fundamental feature of all marketeconomies-money. Yet despite the centrality of political strugglesover money, it remains difficult to articulate its democraticpossibilities and limits. The Currency of Politics takesreaders from ancient Greece to today to provide an intellectualhistory of money, drawing on the insights of key politicalphilosophers to show how money is not just a medium of exchange butalso a central institution of political rule. Money appears to bebeyond the reach of democratic politics, but this appearance-likeso much about money-is deceptive. Even when the politics of moneyis impossible to ignore, its proper democratic role can bedifficult to discern. Stefan Eich examines six crucial episodes ofmonetary crisis, recovering the neglected political theories ofmoney in the thought of such figures as Aristotle, John Locke,Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. Heshows how these layers of crisis have come to define the way welook at money, and argues that informed public debate about moneyrequires a better appreciation of the diverse political strugglesover its meaning. Recovering foundational ideas at the intersectionof monetary rule and democratic politics, The Currency ofPolitics explains why only through greater awareness of thehistorical limits of monetary politics can we begin to articulatemore democratic conceptions of money.

"The financial crisis of 2008 prompted a renewed critical interest in the moral limits and the sense of justice inherent in the market economy. But while the valuable pursuits of political theorists have enabled them to speak more directly to the economic dimension of our lives, they only rarely touch on the political roots of the central institution of all market economies-money. In The Currency of Politics, political theorist Stefan Eich responds to this blind-spot by offering an intellectual history of money, as the concept was developed over time through the insight of some key political philosophers. Showing the ways in which money is an inherently political institution, Eich examines six key moments of monetary crisis and the political reflection they elicited, from Aristotle and the invention of coinage to the "Great Inflation" of the 1970s and the subsequent disappearance of discussions of money from political theory. What ties the moments together, he argues, is a set of recurring concerns with monetary politics that unfold as a conversation across time, constantly offering revisionist assessments of prior crises. Whether we know it or not, these layers of crisis have come to define the way we look at money, and they continue to reverberate today. In surveying the history Eich responds to the most pressing political questions about money which arise from within the long history of political thought and maps out several possible paths for thinking politically about the governance of money"-- Provided by publisher In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies-money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. The Currency of Politics takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule.0Money appears to be beyond the reach of democratic politics, but this appearance-like so much about money-is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. Stefan Eich examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. He shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning.0Recovering foundational ideas at the intersection of monetary rule and democratic politics, The Currency of Politics explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money In the wake of the 2008 financial crisis, critical attention has shifted from the economy to the most fundamental feature of all market economies—money. Yet despite the centrality of political struggles over money, it remains difficult to articulate its democratic possibilities and limits. This book takes readers from ancient Greece to today to provide an intellectual history of money, drawing on the insights of key political philosophers to show how money is not just a medium of exchange but also a central institution of political rule. Money appears to be beyond the reach of democratic politics, but this appearance—like so much about money—is deceptive. Even when the politics of money is impossible to ignore, its proper democratic role can be difficult to discern. The book examines six crucial episodes of monetary crisis, recovering the neglected political theories of money in the thought of such figures as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. The book shows how these layers of crisis have come to define the way we look at money, and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning. Recovering foundational ideas at the intersection of monetary rule and democratic politics, the book explains why only through greater awareness of the historical limits of monetary politics can we begin to articulate more democratic conceptions of money.