The importance of cross-fertilisation between economics and sociology to investigating monetary issues: the case of Swiss WIR currency Online publication date: Tue, 27-Nov-2018
by Guillaume Vallet
International Journal of Pluralism and Economics Education (IJPEE), Vol. 9, No. 4, 2018
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.
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