Questions about the nature of money have gained a new urgency in
the aftermath of the global financial crisis. Even as many people
have less of it, there are more forms and systems of money, from
local currencies and social lending to mobile money and Bitcoin.
Yet our understanding of what money is--and what it might
be--hasn't kept pace. In "The Social Life of Money," Nigel Dodd,
one of today's leading sociologists of money, reformulates the
theory of the subject for a postcrisis world in which new kinds of
money are proliferating.
What counts as legitimate action by central banks that issue
currency and set policy? What underpins the right of
nongovernmental actors to create new currencies? And how might new
forms of money surpass or subvert government-sanctioned currencies?
To answer such questions, "The Social Life of Money" takes a fresh
and wide-ranging look at modern theories of money.
One of the book's central concerns is how money can be wrested
from the domination and mismanagement of banks and governments and
restored to its fundamental position as the "claim upon society"
described by Georg Simmel. But rather than advancing yet another
critique of the state-based monetary system, "The Social Life of
Money" draws out the utopian aspects of money and the ways in which
its transformation could in turn transform society, politics, and
economics. The book also identifies the contributions of thinkers
who have not previously been thought of as monetary
theorists--including Nietzsche, Benjamin, Bataille, Deleuze and
Guattari, Baudrillard, Derrida, and Hardt and Negri. The result
provides new ways of thinking about money that seek not only to
understand it but to change it.
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