Two models of monetary sovereignty : an interpretation based on J. R. Commons’ institutionalism
Dutraive, Véronique; Théret, Bruno (2017), Two models of monetary sovereignty : an interpretation based on J. R. Commons’ institutionalism, Journal of Economic Issues, 51, 1, p. 27-44. 10.180/00213624.2017.1287482
TypeArticle accepté pour publication ou publié
Journal nameJournal of Economic Issues
MetadataShow full item record
Triangle : action, discours, pensée politique et économique [TRIANGLE]
Institut de Recherche Interdisciplinaire en Sciences Sociales [IRISSO]
Abstract (EN)In this paper we intend to use J.R. CommonsÕ main texts in order to build a theoretical analysis of monetary sovereignty. As this author wrote extensively on sovereignty and money but did not give an explicit analysis of their relationships., it is through a work of reconstruction and interpretation that we are able to propose two models of the relation between money and sovereignty. In the first model, money can be viewed as an institution similar to law, that is as an agency of political sovereignty and an ingredient of the sovereignty characteristic of the modern state. In the second model, money is endowed with sovereignty by itself, and is potentially in competition with political sovereignty.
Subjects / KeywordsMonetary sovereignty; political sovereignty
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Between uniqueness of the unit of account and plurality of means of payment, the need for money to be instituted and a set of money-ing rules (with an illustration on the case of fiscal provincial monies in 2001-2003 Argentina fs open monetary crisis) Théret, Bruno (2009) Communication / Conférence