Does money have a commercial or cultural meaning? (PDF)

Essay from the year 2019 in the subject Economics - Monetary theory and policy, grade: 1,0, National University of Ireland, Maynooth, language: English, abstract: This essay discusses the question if money has a commercial or cultural meaning. The main purpose of this study is to develop an understanding of how money is embedded in society and what kind of role it could play. For a better understanding of this context the essay based mainly on case studies to visualize the main arguments. The paper first is intended to give a general overview of money and to show its role in capitalism and society. Furthermore, the personal and impersonal characteristics in an expanded social context will be briefly discussed. The second part shed light on three different case studies to illustrate the importance of money or money-like commodities in non-European cultures. Thirdly, a special currency in London and the Euro will be concerned. In conclusion, the final chapter draws upon the entire topic and summarizes the discussed points.

Since the invention of money and at the latest since the invention of capitalism, everything has revolved around money. As one of the oldest technologies we have, money shapes the society we are living in and is, of course, a key player in today's economies. In other words: money can be seen "as the crucial agent of social and economic transformation" (Perry and Bloch, 1989). But how is money implemented in cultures? Is there really more than just an instrument for economic transactions? Or is money even the prerequisite for a cultural together?