- Copyright Page
- About the Editors
- Abbreviated Titles for Max Weber’s Texts
- Chronology of Max Weber’s Life
- Max Weber Past, Present, and Future
- Economics and Society and the Fate of Liberal Capitalism
- Max Weber’s Analysis of Capitalism
- Money, Credit, and Finance in Capitalism
- Law and the Development of Capitalism
- Is There a Future for Bourgeois Liberalism?
- Contemporary Capitalism and the Distribution of Power in Society
- Weberian Social Theory: Rationalization in a Globalized World
- Democracy, Partisanship, and Civil Society
- Nation, Nation-State, and Nationalism
- The Weberian City, Civil Society, and Turkish Social Thought
- The Modern State and Its Monopoly on Violence
- The Relevance of Weber’s Conception and Typology of <i>Herrschaft</i>
- The Supranational Dimension in Max Weber’s Vision of Politics
- Plebiscitary Politics and the Threats to Legality: Some Classical Insights on a Current Phenomenon
- Politics and Ethics, and the Ethic of Politics
- Max Weber’s Ethics for the Modern World
- Max Weber and the Late Modernization of Catholicism
- The “Disenchantment of the World” or Why We Can No Longer Use the Formula as Max Weber Might Have Intended
- The Literati and the Dao: Vernacular and Nation in China
- Class, Caste, and Social Stratification in India: Weberian Legacy
- Including Islam
- The Study on Ancient Israel and Its Relevance for Contemporary Politics
- The Rationalizations of Culture and Their Directions
- Max Weber and the Sociology of Music
- Contemporary Life Conduct and Existential Cultures
- From Occidental Rationalism to Multiple Modernities
- Max Weber and the Idea of the Occident
- Intellectuals, Scholars, and the Value of Science
- The Iron Cage in the Information Age: Bureaucracy as Tangible Manifestation of a Deep Societal Phenomenon
- Causation, Value Judgments, <i>Verstehen</i>
- Realism and Reality in Max Weber
Abstract and Keywords
The analysis of money was impaired by the disciplinary separation of economics and sociology following the Methodenstreit. Sociology abnegated responsibility for its study to economics, which treated it as a relatively unimportant “neutral veil” over the operation of the “real” economy. Weber worked to overcome the disciplinary balkanization, but ironically this has led to a neglect of his contributions to the analysis of money’s role in capitalism. For example, The Religion of China opens with an account of the underdeveloped monetary system and its inhibitory impact on the development of capitalism. Money is an essential element in the instrumental rationality in modern Western capitalism’s vast impersonal markets and rational capital accounting of profitability in the enterprise. Money prices which enable rational calculation can only be established when money is a “weapon in the struggle for economic existence” and not merely a “neutral” economic medium of exchange. Consequently, administered prices in command and socialist economies inhibit rationality and efficiency.
Geoffrey Ingham is life fellow, Christ’s College, Cambridge University. His main interests are in the historical sociology and political economy of money and finance, on which he has published widely in journals including The British Journal of Sociology, Acta Sociologica, Archives Européenes de Sociologie, and Cambridge Journal of Economics. His major recent books are The Nature of Money (2004) and Capitalism, with Postscript on the Financial Crisis (2011). In 2013, Jocelyn Pixley and Geoffrey Harcourt edited a Festschrift entitled Financial Crises and the Nature of Capitalist Money: Mutual Developments from the Work of Geoffrey Ingham.
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