The reality of money : the metaphysics of financial value

What is money and how does it acquire its value? How do we assign a measurable monetary value to human goods that do not seem quantifiable? What role does money play in the structure of society? Is money an illusion or is it real? Despite the enormous impact of money on the structure of human society, as well as its effect on our daily decision-making, surprisingly little philosophical work has been done on money to date. This book examines the metaphysical foundations of money as well as the power structures that characterize the world of finance, connecting the ontology of money to considerations about inequality and other real-life issues. By throwing light on the metaphysical structure of money and financial value, Eyja M. Brynjarsdóttir seeks to further the philosophical discussion of money and contribute to a broader critique of the monetary system. Contents Acknowledgments Introduction Part I: The Ontology of Money 1 What Is Money? The Question Posed Commodity Theory, State Theory, and Credit Theory Collective Acceptance? Alternatives to Collective Acceptance Theories Psychology Conclusion 2 On Monetary Value Exchange Value Aristotle and the True Function of Money Locke and Silver Another View on Intrinsic Value Conclusion 3 Is It Real? Different Senses of “Real” The Relevant Sense of “Subjective” Subjective Properties as Euthyphronic Contingency on the Actual Non-Idealized Subjects Egalitarianism or Elitism? Secundum Quid and Extrinsic Rarely Entirely Subjective Money as an Interactive and Subjective Kind Conclusion Part II: Money in the World 4 Money as a Measuring Device Exchanging One Thing for Another Measuring Things Measuring People Money and Work Commodification Conclusion 5 Inequality and Money The Problem of Inequality Inequality and Poverty Inequality and Power Relations Justice and Rights Conclusion 6 Women and Money Unpaid and Owned by Others Housework, Caregiving, and Other Unpaid Work Women and Inequality Climate Change and Gender Conclusion Conclusion Notes Bibliography Index A metaphysical investigation of money and monetary value, exploring money as a social phenomenon, the metaphysics of financial value, materialism and measurement