Books like The Social Meaning of Money

I could easily have chosen The Power Elite, White Collar, or The Causes of World War Three; in fact, this list could have been composed of just books by Mills. Mills came along when the dominant theoretical outlook was a kind of conservative “functionalism” led by a now somewhat neglected Harvard sociologist named Talcott Parsons and his “grand theories” that could explain “everything."

These have fallen by the wayside and been replaced by Robert Merton's “theories of the middle range” and micro-theories. More powerfully, grand theory and functionalism were replaced by conflict theory; that is, we learn more about a society from its conflicts than from its harmony. But in truth, one needs both perspectives to understand society.

Jan Pahl’s work opened the ‘black box’ of the household for me, to examine how men and women in intimate relationships managed and controlled their money across cultures.

She set up a typology of separate, joint, and independent money management and control that became my starting point for researching money and families also cultures. Her work also started me thinking of the gender of money, that is how men and women use, think, and own money differently, particularly when spending on children and the home.  

Evan Stark’s book introduced me to the concept of ‘coercive control’.

It is a continued and malevolent pattern of domination and entrapment that makes family violence a human rights crime. He also noted that the perpetrator, often a man, uses gendered stereotypes to control the woman, to convince her that it is she who is at fault.

Evan Stark’s insights helped me connect the gendered cultural practices of money with family violence. When these cultural ways of dealing with money were used for entrapment and abuse, money as a medium of care became a medium of coercive control.

Nicola Sharp-Jeff’s book makes a great contribution by linking research on economic abuse to policy and practice.

She has been able to use her research to set up an important organisation, Surviving Economic Abuse, to help raise awareness of economic abuse, influence law and policy and work with industry and government to address and prevent family violence.

I recognise the book’s value because I know how difficult it is to draw on research to suggest ways forward for policymakers and industry. This is a necessary step for all researchers if they want to prevent family violence and empower women.    

Money is often thought of as a valuable thing, like gold or silver. 

This leads us to presume that it must be finite in quality due to its scarcity. Drawing on anthropological studies of objects such as Yap stones, massive stone disks found on a far-flung island in the Pacific Ocean.

Martin shows instead that money is not so much a thing but an abstract system for tracking who has what and who is entitled to what, similar to what the anthropologist Keith Hart has called a “memory bank.” By rethinking money along these lines, we might be able to rethink how we decide who gets what and who doesn’t get what in our communities.

This novel might have been published a half-century ago, but the situation—wherein beauty is currency, women’s bodies with their bleeding and their smells are betrayers, and the institution of marriage is, well, an institution—feels more than relevant today. The book’s protagonist, Sasha Davis is a former prom-queen who is aware of all the possibility that exists outside of the confines of her loveless marriage. Liberated, she makes moves to extricate herself from the relationship, but what she can't shed is the very thing that holds her back: her own womanhood. The book’s tone, a sort of “Can you believe I have to put up with this?” is rife with humor even as it lays out the fury-making double standards women had to face then (and now).

When I first met him at the University of Fribourg, Switzerland in 1969, I was immediately fascinated by Bernard Schmitt’s passion for scientific research and by his novel approach to monetary macroeconomics.

Three years later I started working with him as a teaching and research assistant and went on working as his closest collaborator until his death in 2014. The other two co-editors of this book also had the privilege to work closely with him.

Conceived as an homage to Schmitt’s legacy, this book is a collection of contributions explaining the historical origin, the analytical content, and the current relevance of Schmitt’s quantum macroeconomic analysis.

My own book title is explicitly an homage to this book, which tells the story of the sterling standard in its heyday. 

It is my dream that readers will put my book next to this one on their bookshelves, reading mine as a continuation of the story that DeCecco tells so masterfully. He is more economic historian, and I am more historian of economic ideas, so the books are different (and his original was in Italian), but they can be read as in conversation with one another. 

This is another book that I look forward to rereading, now that I know more, and engaging more deeply and systematically.

In the west, China is often perceived as a recent entrant onto the world stage.

The sweeping historical perspective of this book quickly disavows any such notion. Horesh presents evidence of the significant circulation of Chinese coins across Eurasia under the Tang dynasty (618-907). This subsequently expanded to include India and Sri Lanka and even reached East Africa under the voyages of Zheng He (1371-1453). Horesh cleverly weaves the evolving situation in China over the centuries with that of the rest of the world and so the reader ends up with much more than just a Chinese-based history.

Perhaps the biggest takeaway, however, is that a global role for China's currency in the modern era would be no more than a return to the position it occupied in past epochs.

Not only does Finance for the People offer a blend of practical personal finance tips while addressing the emotional side of money, but Paco adds over 50 illustrations to help drive her point home.

Any time a book can explain something in diverse ways–from metaphors or stories to graphics–I find them more approachable. Paco's book helps people think critically and compassionately about how their beliefs about money shape their financial choices.

This book mirrors so many of my beliefs about money, making it a frequent go-to recommendation anytime someone asks me for a personal finance resource.