Aristotle on Money and on Economy: First remarks1

Abstract

This proposed paper (being a part of a work in progress on money and on monetary/economic crises’ conceptualization) examines the institutional facet and the symbolic function of money as its diachronical qualities; this global perception of money and of monetary phenomena is integrated, thus, in the assumption that objective functions inheres in them, corresponding to respective historical conjuncture. The obvious outcome is that each historical period accentuates the different economic concepts-and their philosophical representation or their synthesis-according to the existing stage of the market’s evolution. In this methodological framework, in the first part will be examined the variable historical phases in the process of monetary integration, as far as the different characteristics of monetary globalization-in historical perspective-are specified. It is then useless to state that the “global” concept is referred not only to an interdisciplinary approach of money but equally to the diversified levels of globalization, the latest perceived as historical phases in market’s evolution. The past experience of monetary “integration” being briefly presented, in the second part of the article are depicted Aristotle’s notions on institutional characteristics and social/symbolic functions of money. Secondly, Plato’s Politeia offers to the research a systemic differentiation on parallel monetary units, i. e. the simultaneous function of local and global monetary systems. The paper investigates the question if the platonic perception of local and global currency reflects an historical reality in Athens of classic times. Although, the purpose for the use of philosophical perceptions on money is not to depict the Aristotelian and Platonic economic ideas, but to enlarge the historical concepts as regards money’s qualities.