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Title: Money: An Introductory Bibliography Author: James Herod Language: en Topics: money, bibliography
A History of Money
Davies, Glyn. A History of Money: From Ancient Times to the Present Day
[1994]. Cardiff: University of Wales Press, 2003, third revised edition,
720 pages. This is an esteemed, comprehensive, scholarly, general
history.
The Nature of Money
Ingham, Geoffrey. The Nature of Money. Cambridge, UK: Polity Press,
2004, 254 pages.
Next. Ingham (together with a small group of economists clustered mostly
at the University of Missouri in Kansas City) has been revolutionizing
the study of money. They have proved that money did not originate from
barter, but was instead invented by states, as a means of collecting
taxes. This casts an entirely new light on the prospects of getting rid
of money: if you get rid of states you might be able to get rid of money
too (although they do not draw this conclusion themselves; they argue
that since money reflects the power relations in the society, if you
equalize the power, money would not be a problem -- to which I raise a
very skeptical eye.) This book presents an excellent overview of the
debate, as well as being a good introduction to various theories of
money.
This new theory of money, the State/Credit theory, is also summarized
in:
Wray, L. Randall. Understanding Money: The Key to Full Employment and
Price Stability. Northampton, Massachusetts: Edward Elgar
Publishing,1998, 198 pages.
Wray, L. Randall. Credit and State Theories of Money: The Contributions
of A. Mitchell Innes. Northampton, Massachusetts: Edward Elgar
Publishing, 2004, 288 pages.
Knapp, George Friedrich. The State Theory of Money [1905]. San Diego:
Simon Publications, 2003 (A reprint of the 1924 translation and
abridgement of the 4th German edition of 1923), 306 pages.
Other references on money:
Marx, Karl. "Money," Chapter One, pages 115-238 in the Grundrisse:
Foundations of the Critique of Political Economy. Middlesex, England:
Penguin/Pelican, 1973, 898 pages.
De Brunhoff, Suzanne. Marx on Money. New York: Urizen Books, 1976.
Bonefeld, Werner, and John Holloway. Global Capital, National State, and
the Politics of Money. London: Macmillan Press, 1995, 232 pages.
Hutchinson, Francis, Mary Mellor, and Wendy Olsen, The Politics of
Money: Towards Sustainability and Economic Democracy. London: Pluto
Press, 2002, 248 pages. This book has an extensive bibliography on
money, pages 230-241.
Smithin, John, editor. What Is Money? New York: Routledge, 2000, 276
pages. This is a collection of essays which explores various theories of
money.
Arthus, Christopher. “The Concept of Money,” Radical Philosophy, No.
134, Nov/Dec 2005. Abstract online at: <
http://www.radicalphilosophy.com/print.asp?editorial_id=19782
Hess, Moses. “The Essence of Money,” [1845], online at:
<
http://www2.cddc.vt.edu/marxists/archive/hess/1845/essence-money.htm
.
Simmel, Georg. The Philosophy of Money [1907]. London: Routledge & Kegal
Paul, 1978, 512 pages.
Money and Finance in Capitalism
Arrighi, Giovanni. The Long Twentieth Century: Money, Power, and the
Origins of Our Times [1994]. London: Verso, 2010, updated edition, 416
pages. This is an outstanding, scholarly account of the role of money
during the past five hundred years of capitalism. It covers the four
great cycles of capital accumulation, those based in Genoa, Amsterdam,
London, and New York City. Each cycle has two phases: the first based on
real production, and the second on financial speculation. This is an
absolutely essential read.
Chossudovsky, Michel. The Globalisation of Poverty and the New World
Order: Impacts of IMF and World Bank Reforms [1997]. Pincourt, Quebec:
Global Research, 2003, second expanded edition, 346 pages. This is a
thorough study of how the policies of the IMF and World Bank impoverish
the world in order to enrich the capitalist ruling class.
Marazzi, Christian. The Violence of Financial Capitalism. Los Angeles:
Semiotext(e), 2011, 136 pages.
Toussaint, Eric. The World Bank: A Critical Primer. London: Pluto Press,
2008, 314 pages.
Payer, Cherl. The World Bank: A Critical Analysis. New York: Monthly
Review Press, 1982, 414 pages.
Foster, John Bellamy, and Fred Magdoff. The Great Financial Crisis:
Causes and Consequences. New York: Monthly Review Press, 2009, 160
pages.
Hudson, Michael. Super Imperialism: The Origin and Fundamentals of U.S.
World Dominance [1972]. London: Pluto Press, 2003, second edition, 425
pages.
Harvey, David. A Brief History of Neoliberalism. Oxford: Oxford
University Press, 2005, 247 pages.
Bonefeld, Walter, and John Holloway, editors. Global Capital, National
State, and the Politics of Money. New York: St. Martin's Press, 1995,
232 pages.
MacEwan, Arthur. Debt and Disorder: International Economic Instability
and U.S. Imperial Decline. New York: Monthly Review Press, 1990, 147
pages.
Bello, Walden, with Shea Cunningham and Bill Rau. Dark Victory: The
United States, Structural Adjustment, and Global Poverty. London: Pluto
Press (with Food First!), 1994, 148 pages.
Peet, Richard. Unholy Trinity: The IMF, World Bank, and WTO. London: Zed
Books, 2003, 250 pages.
Hilferding, Rudolf. Finance Capital: A Study of the Latest Phase of
Capitalist Development [1910]. New York: Routledge, 1981, 466 pages.
Debt
The Debt Resistors' Operations Manual. By Strike Debt / Occupy Wall
Street, with Common Notions. September 2012, 122 pages.
Graeber, David. Debt: The First 5,000 Years. Brooklyn: Melville House,
2011, 534 pages.
Lazzarato, Maurizio. The Making of Indebted Man: An Essay on the
Neoliberal Condition. Los Angeles: Semiotext(e), 2012, 199 pages.
Hudson, Michael. The Bubble and Beyond: Fictitious Capital, Debt
Deflation, and Global Crisis. Dresden: Islet-Verlag, 2012, 481 pages.
Hudson, Michael. Finance Capitalism and Its Discontents: Interviews and
Speeches, 2003-2013. Dresden: Islet-Verlag, 2012, 274 pages.
Payer, Cheryl. The Debt Trap: The International Monetary Fund and the
Third World. New York: Monthly Review Press, 1974, 251 pages.
George, Susan. A Fate Worse Than Debt: The World Financial Crisis and
the Poor. New York: Grove Weidenfeld, 1990, revised and updated, 300
pages. A Food First book.
Danaher, Kevin, editor. 50 Years Is Enough: The Case Against the World
Bank and the International Monetary Fund. Boston: South End Press, 1994,
207 pages.
Hudson, Michael, editor. Debt and Economic Renewal in the Ancient Near
East. For references to many more interesting articles on money, go to
Hudson’s web site at:
[http://www.michael-hudson.com/biography.html]
Collinge, Alan Michael. The Student Loan Scam: The Most Oppressive Debt
in U.S. History – and How We Can Fight Back. Boston: Beacon Press, 2009,
167 pages.
GATT-Fly, Debt Bondage or Self-Reliance: A Popular Perspective on the
Global Debt Crisis. Toronto: 1985, 84 pages (letter-sized).
Usury
Kenneth Couesbouc, “A Short History of Lending and Borrowing Money, It’s
a Gas,” online at Counterpunch, September 21, 2007.
Local Currencies
There is a lot of action now around local or alternative currencies.
Here are several web sites dealing with this, most of which list other
resources and references. Community Currencies. online at:
[http://www.ratical.org/many_worlds/cc/]. Local Currency Resources,
online at: [http://yesmagazine.org/article.asp?ID=894]. Reinventing
Money. established by Thomas H. Greco. [http://reinventingmoney.com].
Complementary Community Currency Systems and Local Exchange Networks.
Online at: [http://www.transaction.net/money/community/index.html].
Local and Interest-Free Currencies, Social Credit, and Microcredit.
Online at: [http://www.ex.ac.uk/~RDavies/arian/local]
Douthwaite, Richard. Short Circuit: Strengthening Local Economies for
Security in an Unstable World. Devon, England: Green Books, 1996, 386
pages. This is probably the most comprehensive overview.
Greco, Jr., Thomas H. Money: Understanding and Creating Alternatives to
Legal Tender. Vermont: Chelsea Green, 2001, 295 pages.
Boyle, David. Funny Money: In Search for Alternative Cash. London:
HarperCollins, 1999, 228 pages.
Dobson, Ross V.G. Bringing the Economy Home from the Market. Montreal:
Black Rose Books, 1993, 235 pages. This is mostly about the Letsystem.
Meeker-Lowry, Susan. "The Potential of Local Currency," Z-Magazine,
July/Aug, 1995, pp. 16-23.
Witt, Susan. “Printing Money, Making Change. The Promise of Local
Currencies.” Online at:
[http://www.ratical.org/many_worlds/cc/promiseOfLC.html]
Cohen-Mitchell, Tim. “Community Currencies at the Crossroads.” Online
at:
[http://www.newvillage.net/2commcurrencies.html]
Glover, Paul. “Grassroots Economics.” Online at:
[http://context.org/ICLIB/IC41/Glover.htm]
Gifts
Graeber, David. Toward an Anthropological Theory of Value. New York:
Palgrave, 2001, 337 pages.
For those who are interested in establishing an anarchist world without
money, this is a good place to begin. Graeber tackles the question of
the how humans assign value to things (and where prices come from and
what are they based on), relying on his extensive knowledge of the
anthropological literature to help answer it. A key part of the book is
his long chapter on “Marcel Mauss Revisited” (the author of The Gift).
Thus the book is directly relevant to the current revival of interest in
the so-called "gift economy." It is an extended examination of the
“value” question in non-market situations.
Mauss, Marcel. The Gift: The Form and Reason for Exchange in Archaic
Societies [1950]. New York: Norton, 1990, 164 pages.
A lot of work is now being done on the idea of a gift economy. Here are
some references:
Graeber, David. “Give It Away,” online at:
[http://www.freewords.org/graeber.html]
This essay also includes an account of the group formed in France, of
which Graeber is a member, to build off the theories in Marcel Mauss’
The Gift.
Call, Lewis. “Anarchistic Gift Economies in Contemporary Science
Fiction,” Anarchist Studies, Vol. 10, No. 2, 2003
Leahy, Terry. “Sociological Utopias and Social Transformation:
Permaculture and the Gift Economy,” online at:
[http://www.octapod.org/gifteconomy/content/utopias.html]
See also the links on his web site at:
[http://www.octapod.org/gifteconomy/left.htm[
Brouillet, Carol. “Reinventing Money, Restoring the Earth, Reweaving the
Web of Life,” online at:
[http://www.womenswork.org/articles/reinventing.html]
Cheal, David J. Gift Economy. 1988
Vaughan, Genevieve. For-Giving: A Feminist Criticism of Exchange. 1997
Titmuss, Richard M. The Gift Relationship: From Human Blood to Social
Policy. New York: Pantheon, 1971, 339 pages.
A Moneyless Society
Nelson, Anitra, and Frans Timmerman. Life Without Money: Building Fair
and Sustainable Economies. London: Pluto Press, 2011, 256 pages.
“A World Without Money,” Socialist Standard, July 1979. Editorial
Committee.
Rubel, Maximilien, and John Crump, editors, Non-Market Socialism in the
Nineteenth and Twentieth Centuries. (St. Martin’s Press, New York, 1987,
187 pages.) "In the nineteenth century, socialists as different as Marx
and Kropotkin were agreed that socialism means a marketless, moneyless,
wageless, classless, stateless world society. Subsequently this vision
of non-market socialism has been developed by currents such as the
Anarcho-Communists, Impossibilists, Council Communists, Bordigists, and
Situationists." (from the publisher). Included are essays by Adam Buick,
Stephen Coleman, Alain Pengam, and Mark Shipway, which ferret out this
thin thread of revolutionary thought. There is a postscript describing
other resources for each of the five currents discussed, as well as a
four-page bibliography. This is a very important book.
Miscellaneous Works
Galbraith, John Kenneth. Money: Whence It Came, Where it Went. Boston:
Houghton, Mifflin, 1975, 324 pages.
Polanyi, Karl, Conrad M. Arensberg, and Harry W. Pearson, editors. Trade
and Market in Early Empires: Economies in History and Theory. Glencoe,
Illinois: Free Press, 1957, 382 pages.
Henwood, Doug. Wall Street: How It Works and For Whom. London: Verso,
1997, 372 pages.
Anarchist Economics Series, compiled by Jon Bekken. List of articles
published in the Libertarian Labor Review (which became the
Anarcho-Syndicalist Review), with additional references, plus
introductory remarks. Online at:
[http://www.syndicalist.org/theory/anarchist_economics.shtml]
Also relevant is the long standing debate over the labor theory of
value. The basic question of course is how we are to determine the value
of something, in comparison to something else, to serve as a basis for
exchange? Or is determining value even necessary for exchange? What
about gifts and mutual aid? To begin with, see:
Rubin, I.I. Essays on Marx's Theory of Value [1928]. Detroit: Black and
Red, 1972, 275 pages.
Meek, Ronald. Studies in the Labor Theory of Value. New York:
International Publishers, 1956, 310 pages.
McNally, David. Against the Market: Political Economy, Market Socialism,
and the Marxist Critique. London: Verso, 1993, 262 pages.
This is a brilliant reconstruction of the decades-long dispute between
Marx and Proudhon over the market. Marx rejected the market, McNally
claims, while Proudhon didn’t. This is an insightful book, and is very
helpful in getting a handle on so-called market socialism, of which
Proudhon's theories were the first example, McNally claims.
Caffentzis, George. “The Power of Money: Debt and Enclosure,” online at
the Commoner, No. 7, Spring/Summer 2003
]. Originally published in Altreeragioni: Saggi e documenti 4, 1995,
23-28. Reprinted in his book, In Letters of Blood and Fire: Work,
Machines, and the Crisis of Capitalism, pages 236-240. Oakland: PM
Press, 2013, 289 pages.
Birrell, Neil. “Some Notes for an Anarchist Theory of Trade,” The Raven,
No. 31, pp. 247-261. Online in Spunk Archive at:
[http://www.spunk.org/texts/pubs/freedom/raven/sp001755.html]
Two books building on the ideas of Henry George are:
Michael Hudson, et.al., A Philosophy for a Fair Society. 1994. And
J.W. Smith, Money. A Mirror of the Economy. 2006
Life Beyond the Market. Special issue of Greenpepper Magazine, out of
Amsterdam. See the web site at:
[www.greenpeppermagazine.org]
Bohannan, Paul, and George Dalton, editors. Markets in Africa: Eight
Subsistence Economies in Transition. New York: Doubleday,1965, 372
pages.
Sahlins, Marshall. Stone Age Economics. Chicago, Aldine Publishing,
1972, 348 pages.
Hacker, Andrew. Money: Who Has How Much and Why. New York: Scribner,
1997, 254 pages.
Caffentzis, George. Clipped Coins, Abused Words, and Civil Government:
John Locke's Philosophy of Money. Brooklyn: Autonomedia, 1989, 246
pages.
McMurtry, John. Value Wars: The Global Market versus the Life Economy.
London: Pluto Press, 2002, 277 pages.
Dodd, Nigel. The Sociology of Money: Economics, Reason, and Contemporary
Society. New York: Continuum, 1994, 211 pages.
Mandel, Ernest. Power and Money: A Marxist Theory of Bureaucracy.
London: Verso, 1992, 252 pages.
Perlo, Victor. The Empire of High Finance. New York: International
Publishers, 1957, 351 pages.
Greider, William. Secrets of the Temple: How the Federal Reserve Runs
the Country. New York: Simon and Schuster, 1987, 798 pages.
Douthwaite, Richard. The Ecology of Money. Devon: Green Books, 1999, 78
pages.