The Sociology of Money

Book excerpt: This is the first systematic sociological discussion of one of the most important of modern institutions: money. It demonstrates the immense significance of monetary systems in modern societies and considers why sociologists have been so slow to address this issue. Nigel Dodd, a sociologist by training, analyzes differing conceptions of the nature of money in economics, sociology, and anthropology, and subjects each of these to a systematic critique. He covers the main debates in economic theory, but concentrates special attention on the role of money in the work of such prominent social theorists as Simmel, Parsons, Habermas, and Giddens. None of these writers, Dodd concludes, offers a satisfactory account of the character or significance of money in modern societies. And so he offers a new interpretation of the nature of monetary transactions: one with far-reaching implications for social and economic analysis. Interdisciplinary in nature, The Sociology of Money will be of interest to those working in the fields of economics, social theory, sociology, and anthropology, and all those wishing to gain a better understanding of this dominant, but neglected, social institution.