Money as an 'absolute means'. On the relevance of Simmel's theory of money

Journal/Book: Berl J Soziol. 2000; 10: Postfach 300 551, D-51334 Leverkusen 3, Germany. Leske Verlag Budrich Gmbh. 301+.

Abstract: According to a rising number of critical voices, the state of both sociological and mainstream economic theories on money must be considered as deficient. The paper suggests that a more promising approach could be developed by going back to Siminel, whose thinking was not yet dominated by today's ''division of labour'' between sociology and economics. The centrepiece of Simmel's theory is his conceptualization of money as an ''absolute means''. The paper shows that Simmel's view is incompatible with the functionalist interpretations of money which today are dominating in economic sociology. At the same time it allows for a new and more accurate analytical perspective on the phenomena of ''individualization'' and ''modernization'', broadly discussed in current sociology. Moreover, Simmel's theory of money could be made fruitful for a new interpretation of contemporary problems of economic growth and innovation.

Note: Article Deutschmann C, Univ Tubingen, D-72074 Tubingen, GERMANY

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