Title: The importance of cross-fertilisation between economics and sociology to investigating monetary issues: the case of Swiss WIR currency

Authors: Guillaume Vallet

Addresses: University of Grenoble Alpes-CREG, 1221 Rue des Résidences 38400, Saint Martin D'Hères, France

Abstract: This paper illustrates the fruitful cooperation between economics and sociology, the latter being considered the science of human association (namely, social interactions), in order to explore monetary issues, with the aim of implementing public policies. Using the case of the Swiss local currency, the WIR, I emphasise that money requires cooperation between economics and sociology for three main reasons. First, economic linkages related to social interactions makes money evolve as a process. Second, bankers' attitude is key to making money an organic institution. Finally, banks, especially ethical banks, should be associated with the private commons. From these three reasons, I derive recommendations for public policies that are twofold: to promote the development of local currencies; and to change banking law to account for the status of private commons for banks.

Keywords: money; economics; sociology; WIR; Switzerland; local currencies; cross-fertilisation.

DOI: 10.1504/IJPEE.2018.096397

International Journal of Pluralism and Economics Education, 2018 Vol.9 No.4, pp.406 - 424

Received: 06 Sep 2017
Accepted: 13 Jul 2018
Published online: 27 Nov 2018 *

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