Debt as Money

Understanding the economics of QWERTY: the necessity of history

Tony Lawson

Cambridge Journal of Economics, 2018, vol. 42, issue 4, 1165-1181

Abstract: Money is positioned bank debt. This is a thesis I have previously defended in this journal. In the current paper, I elaborate the thesis and provide further grounding for it, especially in the light of criticism by others. In so doing, I examine how positioned bank debt as money works and how, in one case at least, it originally emerged

Keywords: Money; Credit/debt; Social ontology; Social positioning; Means of payment; Purchasing power; Legal tender; Liquidity; Rights; Obligations (search for similar items in EconPapers)
Date: 2018
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