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Market Versus SocietyThe Root of All Evil: Money, Markets, and the Prospects of Rewriting the Rules of the Game

Market Versus Society: The Root of All Evil: Money, Markets, and the Prospects of Rewriting the... [The chapter draws on Karl Polanyi’s insights on market logic and David Graeber’s analyses of debt to apply a critical perspective on the artifact of general-purpose money. It suggests that the insidious trajectories of human ideas traced by Polanyi and Graeber—and more generally by Marx—are generated by the artifact of money itself. The structural logic following from the use of conventional money inexorably generates disastrous social and ecological consequences precisely with regard to the three commodities that Polanyi deemed fictitious: labour, land, and money. Given the apparent inability of society to remedy increasing economic inequalities, ecological degradation, and financial vulnerability, the only remaining hope hinges on our capacity to identify money itself as the source of all these evils, and consequently to critically rethink the idea of universal commensurability.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Market Versus SocietyThe Root of All Evil: Money, Markets, and the Prospects of Rewriting the Rules of the Game

Part of the Palgrave Studies in Urban Anthropology Book Series
Editors: Spyridakis, Manos
Hornborg, Alf
Market Versus Society — Mar 8, 2018
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18 pages

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References (27)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2018
ISBN
978-3-319-74188-8
Pages
41 –59
DOI
10.1007/978-3-319-74189-5_3
Publisher site
See Chapter on Publisher Site

Abstract

[The chapter draws on Karl Polanyi’s insights on market logic and David Graeber’s analyses of debt to apply a critical perspective on the artifact of general-purpose money. It suggests that the insidious trajectories of human ideas traced by Polanyi and Graeber—and more generally by Marx—are generated by the artifact of money itself. The structural logic following from the use of conventional money inexorably generates disastrous social and ecological consequences precisely with regard to the three commodities that Polanyi deemed fictitious: labour, land, and money. Given the apparent inability of society to remedy increasing economic inequalities, ecological degradation, and financial vulnerability, the only remaining hope hinges on our capacity to identify money itself as the source of all these evils, and consequently to critically rethink the idea of universal commensurability.]

Published: Mar 8, 2018

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