The Currency of Politics: The Political Theory of Money from Aristotle to Keynes

The book "The Currency of Politics" explores the intellectual history of money, showing how it is not just a medium of exchange but also a central institution of political rule. It examines six crucial episodes of monetary crisis and argues that informed public debate about money requires a better appreciation of the diverse political struggles over its meaning.

Format: Paperback / softback
Length: 344 pages
Publication date: 22 August 2023
Publisher: Princeton University Press

In the realm of political thought, the significance of money has spanned centuries, from ancient Greece to the Great Inflation of the 1970s. However, despite its central role in economic systems, it remains challenging to fully comprehend its democratic potential and limitations. In the aftermath of the 2008 financial crisis, a renewed focus has emerged on money, highlighting its pivotal role in market economies. While money has been the subject of intense political battles, it remains difficult to articulate its democratic possibilities and constraints.

The Currency of Politics, a comprehensive exploration of money's intellectual history, delves into the multifaceted nature of money as both a medium of exchange and a fundamental institution of political rule. Written by Stefan Eich, the book takes readers on a journey from ancient Greece to the present, drawing upon the insights of key political philosophers to shed light on the complex relationship between money and democracy.

One of the book's central arguments is that money appears to be beyond the grasp of democratic politics, but this perception is deceptive. Even when the politics of money is impossible to ignore, discerning its proper democratic role can be challenging. Stefan Eich examines six crucial episodes of monetary crisis, delving into the neglected political theories of money in the thought of figures such as Aristotle, John Locke, Johann Gottlieb Fichte, Karl Marx, and John Maynard Keynes. Through these historical lenses, he demonstrates how these crises have shaped our understanding of money and argue that informed public debate about money requires a deeper appreciation of the diverse political struggles over its meaning.

The Currency of Politics aims to reclaim foundational ideas at the intersection of monetary rule and democratic politics. By recovering these forgotten theories, the book seeks to provide a framework for articulating more democratic conceptions of money. It emphasizes the importance of greater awareness of the historical limits of monetary politics in order to move towards more inclusive and equitable economic systems.

In conclusion, The Currency of Politics is a valuable contribution to the field of political thought, offering a comprehensive and insightful exploration of money's role in history and politics. By delving into the neglected political theories of money and examining the historical crises that have shaped our understanding of it, the book provides a framework for reimagining money's democratic potential and limitations. As we navigate the complex terrain of economic systems, it is essential to have a deeper understanding of the role of money and the diverse political struggles surrounding it.

Weight: 598g
Dimension: 155 x 235 x 28 (mm)
ISBN-13: 9780691235431