Levy-Bard-College-Money-Power-and-Monetary-Regimes
Pavlina R. Tcherneva Levy Economics Institute of Bard College 26 pages
Money, in this paper, is defined as a power relationship of a specific kind, a stratified social debt relationship, measured in a unit of account determined by some authority. A brief historical examination reveals its evolving nature in the process of social provisioning. Money not only predates markets and real exchange as understood in mainstream economics but also emerges as
a social mechanism of distribution, usually by some authority of power (be it an ancient religious authority, a king, a colonial power, a modern nation state, or a monetary union). Money, it can be said, is a “creature of the state” that has played a key role in the transfer of real resources between parties and the distribution of economic surplus.
'http://truevaluemetrics.org/DBpdfs/Money/Levy-Bard-College-Money-Power-and-Monetary-Regimes.pdf'
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