This chapter summarizes the case for considering money as a legal institution. The Western liberal tradition …, represented here by John Locke’s iconic account of money, describes money as an item that emerged from barter before the state … existed. Considered as an historical practice, money is instead a method of representing and moving resources within a group …

In the modern lexicon, money is pure instrumentality, a colorless medium that transparently expresses real value …. Contrary to that trope, however, we can get “inside” money: we can reconnoiter it as a structure entailing value that is … engineered by certain societies. Taking a “constitutional approach” to money reveals its internal design, the architecture that …

The first attempt in the human history to consciously create money ended in a collapse in 1720, well-known as the money … mania. This unfortunate start raises doubt on money creation as a whole such that today there are still voices questioning … created money even though it is now indispensible for the world economy. But this misfortune also has the bright side in that …

The modern approach to the market as a place with autonomy depends on a certain view of money. According to that view …, money is a neutral technology that expresses individual choices made about real goods and services. But the controversies … over money that regularly arise in political communities reveal that money is far from a transparent medium. It is a legal …

rapidly increasing acceptance, so far the affirmation of cryptocurrency as better money has been thwarted by dramatic … achieved by dynamically rebasing the outstanding amount of money: the number of cryptocurrency units in every digital wallet is … Money, so named from the Nobel Prize-winning economist: a good money standard providing stable prices for a new economic era …

itself in the creation of money, the manipulation of interest rates, the changing of exchange rates, the reappraisal of the … the State can – create money and with redefine and defend the State …

The Covid-19 crisis has revived an old heated debate on whether significant increases in the money supply -such as the … to the quantity theory of money for that purpose, sometimes in a misleading way in our view. Against this background …, this paper seeks to clarify several aspects of the quantity theory of money and the so-called "monetarist" approach to it …

(MMT) and traces back its intellectual origins to the writings on money of Georg F. Knapp and on fiscal policy of Abba P …