What is Money?

“Money is not a “mere voucher for unspecified utilities”, which could be altered at will without any fundamental effect on the character of the price system as a struggle of man against man. “Money” is, rather, primarily a weapon in this struggle, and prices are expressions of the struggle; they are instruments of calculation only as estimated quantifications of relative chances in this struggle of interests.” (Max Weber)

Weber, Max. 1978. Economy and Society: An Outline of Interpretive Sociology. University of California Press. (p. 108)

Police officers stand guard in front of the Charging Bull sculpture as protesters take part in the Flood Wall Street, September 2014 (photo by REUTERS)


Join the
Economic Sociology and Political Economy community via
Facebook / Twitter / LinkedIn / Google+ / Instagram / Tumblr

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s