As my economics training began in the Institutionalist tradition, I was exposed from the start to the view that money is not a ‘thing’ but rather an institution. This meant more than the obvious fact that most of our ‘money supply’ is issued by private bank ‘institutions’. Institutionalists define institutions broadly to include socialized patterns of behaviour or even thought. Dudley Dillard was foremost among Institutionalists for emphasizing that money is an institution. However, I have to admit that exactly what is meant by the phrase ‘money is a social relation’ was left rather hazy.
- Government Spending
- Dynamic Stochastic General Equilibrium
- Public Purpose
- Tribal Society
- State Money
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.