What is money? Part 1: Talking about money

Bringing up the topic of money often raises suspicion among the people I talk to. Sometimes, I can see in their faces how they ask themselves:

“Why is this guy so interested in money? Isn’t he just one of all the other profit-seeking followers of the free-market ideology? Doesn’t he just try to justify all the big institutions I am against?”

The distrust I am faced with in these moments hurts. Nevertheless, I feel that it is prominently fear that makes people close their eyes to how money works.

Among the Left, money has become a dirty topic that it is preferably avoided. If mentioned, then in a cynical way, but under no circumstances should money be described as something positive.

Does it make sense to approach the topic of money in this way, when there does not pass a single day – or even an hour – at which one does not rely on monetary transactions?

Money is a vital part of our society and the attempt to mask it will always mask a considerable part of the problems we are facing today and what might solve them.

Why do things like war, exploitation of people or the destruction of ecosystems happen? Whenever we ask ourselves such questions, after only about three why’s the answer will have something to do with money.

Money is something which is entirely created by humanity. And for some reason we decided that there is money in cutting down a forrest but none in protecting a wet land. That there is money in fracking but none in clearing toxic waste. That there is money in investing in student loans but none in providing basic education.

Why did we decide that money should have these destructive properties?

In my blog I outline in what regard competition and growth are built-in in our monetary system. If we want to restructure the way money works, however, it will not suffice to understand why money drives detrimental behavior.

It is critical that we become fully aware of our relationship to money. Only then, we will be in a position to incorporate our social aims and values into our monetary system.

In recent times, an enormous commoditization took place within our society. Things which have been free of charge only fifty years ago do now come with a price. Communication costs. Seeds cost. Water and air (in good quality), housework, child care and nursing cost.

It is only natural, that from this point of view money comes with a price, too. Many economist of the mainstream, therefore, consider money being a private good and do not oppose to it being produced by private institutions. But thoroughly understanding what money is requires more detailed an analysis.

What is your opinion about money? Leave a comment or write me an email!