By Jürgen von Hagen, Michael Welker
ISBN-10: 110704300X
ISBN-13: 9781107043008
The character of cash and its influence on society has lengthy students of economics, background, philosophy, legislations, and theology alike, and the hot monetary hindrance has moved those matters to the leading edge of present public debate. during this research, authors from a number of backgrounds supply a unified exam of the character and the aim of cash. Chapters disguise the commercial and social foundations of cash; the ancient origins of cash in historical Greece, China, the traditional heart East, and medieval Europe; difficulties of justice hooked up to using funds in felony platforms and felony settlements, with examples either from historical heritage and at the present time; and theological features of economic and industry trade. This stimulating interdisciplinary booklet, with its nontechnical and energetic dialogue, will entice an international readership operating within the interfaces of economics, legislations and faith.
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Additional info for Money as God?: The Monetization of the Market and its Impact on Religion, Politics, Law, and Ethics
Example text
39 This is well known from the fact that most exchanges among families or closed villages in developing countries are nonmonetary, even if they involve credit over considerable periods of time. At the other end of the spectrum is a trading system based on IOUs, credit cards, checkable asset accounts, and other financial assets than money. By definition, such assets are named. Trade based on named assets then requires comprehensive bookkeeping services keeping track of all credit relations an individual has entered into and a powerful institution enforcing credit contracts.
Diehl and P. , Karlsruhe: Braunsche Hofdruckerei und Verlag 1923, 47–62, at 61. Clower, “A Reconsideration of the Microfoundations of Monetary Theory”; and D. Gale, Money: In Equilibrium. Cambridge University Press 1982. W. Ernst, “Geld: Ein Überblick aus historischer Sicht,” in: Gott und Geld: Jahrbuch für Biblische Theologie 21, Neukirchen: Neukirchener Verlag 2006, 3–21. For the importance of standardization for the use of money, see B. Hess, “Standardization and monetization: legal perspectives,” Chapter 4 below.
Furthermore, storing wealth in physical money is costly, a point noted in Matthew 6:19 and James 5:3, which is easily extended to the disadvantages of using money as a store of value in times of inflation. The risk of theft makes money a worse store of value than land or other physical assets which are more difficult to steal (see Matthew 6:19). Using money as a unit of account in the presence of (uncertain) inflation is like using measuring rods that change size constantly, the danger of which was already alluded to in the premonetary times of Leviticus 19:35.
Money as God?: The Monetization of the Market and its Impact on Religion, Politics, Law, and Ethics by Jürgen von Hagen, Michael Welker
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