Money as a Hierarchical System

Legal and Economic Perspectives
Thursday September 12, 2013

This seminar will examine the hierarchical power relationships generated and continuously affected by the legal and economic design of the monetary system.

Overview

This seminar will examine the hierarchical power relationships generated and continuously affected by the legal and economic design of the monetary system. Questions to be addressed include:

How have financial and legal technologies shaped our monetary system?

How do different contemporary legal and economic views on money and the monetary economy relate to each other?

What role should and/or does power play in discussions of legal and economic design of the monetary system?

Participants

Speakers:

Participant Profile

Christine Desan

Professor of Law
Harvard Law School

Christine Desan is a Professor of Law at Harvard Law School, and the co-leader with Professor Sven Beckert (FAS-History) of Harvard’s Workshop on the Political Economy of Modern Capitalism. Desan’s research centers on money and the market as a pairing of form and substance that organizes the political economy of modern liberalism. In contrast to conventional narratives that cast money as pure function for exchange between enterprising individuals, Professor Desan maps a contrasting story that explores money as a legal and political project, one that configures the market it sets out to measure. Professor Desan’s articles include “Coin Reconsidered: The Political Alchemy of Commodity Money,” Theoretical Inquiries in Law (2010), and “Beyond Commodification: Contract and the Credit-Based World of Modern Capitalism,” in Transformation of American Law II: Essays for Morton Horwitz (2009). She is currently completing a book called Making Money: Coin, Credit, and the Coming of Capitalism in the Anglo-American World.

Participant Profile

L. Randall Wray

Professor of Economics and Research Director
Center for Full Employment and Price Stability at the University of Missouri-Kansas City

L. Randall Wray, Ph.D. is a Professor of Economics and Research Director for the Center for Full Employment and Price Stability at the University of Missouri-Kansas City. He is also a Senior Scholar at the Levy Economics Institute of Bard College, New York.

Participant Profile

Perry Mehrling

Professor of Economics
Barnard College

Perry Mehrling is the Director of Education Programs for the Institute for New Economic Thinking and a professor of economics at Barnard College, where he has been since 1987. He is also a member of the Board of Directors of the Eastern Economics Association, and the Economists Forum at the Financial Times.

Participant Profile

Katharina Pistor

Michael I. Sovern Professor of Law
Columbia Law School

Katharina Pistor is the Michael I. Sovern Professor of Law at Columbia Law School, the Director of the School’s Center on Global Legal Transformation, and a member of Columbia University’s Committee on Global Thought.

Resources