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Cambridge Journal of Economics Advance Access published online on July 20, 2006
Cambridge Journal of Economics, doi:10.1093/cje/bel022
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© The Author 2006. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.
Received October 22, 2004
Revised May 19, 2006

Article

The hypostasis of money: an economic point of view

Jean Cartelier 1 *

1 Université de Paris

* To whom correspondence should be addressed.
Jean Cartelier, E-mail: jcartel{at}club-internet.fr


  Abstract

The purpose of this article is to show that money is not an entity but hic et nunc a genuine mode of circulation associated with a genuine social organisation. Criticising money hypostasis may help to to: (i) elucidate the ambivalence of monetary relations in our modern society (equivalence and subordination); (ii) criticise the idea that ‘primitive monies’ are nothing but imperfect forms of our modern money and show that exotic societies are worth studying for themselves; and (iii) relativise the knowledge we have about our societies and to develop comparative analysis. A sketchy comparison between wodani society and ours suggests that an abduction relation exists between money and society.

Keywords: Money; Wodani society; circulation; Abduction; hypostasis.
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