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Exploring Monetary Institutionalism

Deadline: 30 November 2018
Traduction de Roger Miller

Coordinators: Pierre Alary, pierre.alary@univ-lille1.fr

Ludovic Desmedt, ludovic.desmedt@u-bourgogne.fr

Call for Papers: Exploring Monetary Institutionalism

  • 1 Merchants, Salary-earners and Capitalism
  • 2 Violence and Money
  • 3 Private Money and the Power of Princes

The research carried out since the nineteen seventies and eighties, particularly in France, has brought a brought about a substantial renewal of ideas on monetary analysis. The origins of this theoretical renewal are to be found in the convergence of several traditions of economic thought, namely the Marxist, Keynesian, regulationist and circuitist approaches. The resulting theoretical works are rich in substance and often pluridisciplinary in nature. Many of them had a lasting impact on the field, such as Marchands, salariat et capitalisme1 (Benetti & Cartelier, 1980), La Violence de la monnaie2 (Aglietta & Orléan, 1982), Nomismata (Servet, 1984) and Monnaie privée et pouvoir des princes3 (Boyer-Xambeu, Deleplace & Gillard, 1986). This research led by economists and converging towards a conception of money which is no longer instrumental but rather institutionalist has caught the attention of a wider-based research community including history, anthropology, sociology, law, psychology and philosophy.

  • 4 Concerning “Philosophy of Money” by Georg Simmel
  • 5 Simmel and Social Norms
  • 6 The Social Construction of Confidence
  • 7 Confidence in Question
  • 8 Economic Regimes and Social Order
  • 9 Sovereign Money
  • 10 Money unveiled by its Crises
  • 11 Francophone Monetary Institutionalism in its Different Forms – Past, Future and International Persp (...)

Several directions have therefore been explored. The analytical force of Simmel has been rediscovered (À propos de “Philosophie de l'argent” de Georg Simmel4, Grenier et alii, 1993 and Simmel et les normes sociales5, Baldner and Gillard, dir., 1996). Trust has been the object of numerous studies, notably La construction sociale de la confiance6, Bernoux and Servet, dir., 1997 and La Confiance en question7, Laufer and Orillard, dir., 2000. Similarly sovereignty with regard to the way it relates to money and finance has been studied in Régimes économiques de l’ordre politique8, Théret, 1992, La Monnaie souveraine9, Aglietta and Orléan, dir., 1998 and La Monnaie dévoilée par ses crises10, Théret, dir., 2007. This research is always characterised by interdisciplinarity and is always highly dynamic. It is instigated by a considerable number of researchers and is constantly undergoing a process of redefinition, as was attested by the wealth and variety of the contributions presented at the colloquium “Institutionnalismes monétaires francophones : bilan, perspectives et regards internationaux11 which took place in Lyon in June 2016).

This call for contributions is intended to attract contemporary research works in the area of monetary institutionalism. By inviting contributions it aims to stimulate the researchers who give life to this current of thought, nourish it and transform it in order to improve understanding of the importance of money in economic practice and more generally in society in various places seen as a whole. Several lines of thought can be explored, as follows.

1. What are the conceptual bases underlying monetary institutionalism, whether they come from economic sociology, history, anthropology or philosophy? What role have these disciplines played in the development of this current of thought? To what extent can monetary institutionalism be identified with, or even be seen as being rooted in the historical schools (for example German chartalism – Müller, Knapp and Weber – extended by Keynes, and British and American neo-chartalists – Innes and Wray -, or the old American economic institutionalism – Veblen, Mitchell and Commons), or in the socio-anthropological approaches (like those of Polanyi, Mauss and Simiand), or perhaps in the philosophical perspectives (from Proudhon to Deleuze and Guattari)?

2. Is it possible to establish limits to the validity of a concept in a pluridisciplinary context? What evaluation can be made of these concepts in the context of the new areas of exploration which are coming to light (the euro zone, financialised capitalism, derivatives, the crisis, alternative and local forms of money, cryptocurrencies, etc.). In other terms, how can institutionalism be approached and how does it adapt pre-established concepts so as to analyse the diversity of observable monetary systems and regimes, including within capitalism (capitalist / commodity / social currencies, reserve / payment / account currencies, monopoly / competing / complementary currencies, single / plural currencies, violence / confidence / social trust, sovereigny / legitimacy, money / value, etc.). Is there a consensus or a convergence on these concepts and on the way they are applied or, on the contrary, does the study of new and specific areas necessarily entail the permanent renewal of concepts?

3. One major contribution of the different forms of institutionalism is to ensure that money is always linked to a political project, the establishment of a society and to a hierarchy of values. The concept of ethical confidence, for example, brings to heart of the question of money the transcendent notion whereby which the value system is a constituent part of the unity of the social body. But no analysis has yet been carried out of the types of interaction that can be created between monetary relations and/or order and political relations and/or order, depending on the society concerned. Should a project or a political compromise on which a whole social system is founded be intimately linked to a particular form of money and the honouring of debts? It would seem crucial, in an interdisciplinary institutionalist perspective, to understand these links and the ways in which they are interdependent, exert mutual influence on one another and can be hierarchically organised. The direction of causality is from politics towards money, but at the same time money is essential to the construction of social order.

Submissions

Proposals for articles should be submitted by e-mail using “Call for Papers” as the message subject. Please ensure that the length of the article does not exceed 10,000 words and conforms to the instructions of the authors of the Revue de la Régulation, as indicated here: https://journals.openedition.org/regulation/9779

Proposals should be sent to the following email adresses:

pierre.alary@univ-lille1.fr

ludovic.desmedt@u-bourgogne.fr

regulation@revues.org

Articles will be examined anonymously in accordance with the usual procedures of the review.

Deadline for submissions: 30 November 2018

Notes

1 Merchants, Salary-earners and Capitalism

2 Violence and Money

3 Private Money and the Power of Princes

4 Concerning “Philosophy of Money” by Georg Simmel

5 Simmel and Social Norms

6 The Social Construction of Confidence

7 Confidence in Question

8 Economic Regimes and Social Order

9 Sovereign Money

10 Money unveiled by its Crises

11 Francophone Monetary Institutionalism in its Different Forms – Past, Future and International Perspectives

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