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)

 

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