Modern Money and the Rise and Fall of Capitalist Finance: The Institutionalization of Tusts, Personae and Indebtedness

Cover
Half Title
Series
Title
Copyright
Dedication
Contents
List of Figures
List of Tables
Introduction
	Persona, Property, Trusts, and Modern Money
	Money Economy Versus Credit Economy
	Structure of the Book
1 Money and Property
	1.1. Analogy
	1.2. Property was Created in the Image of Money
2 Person and Property—Mistaken Ideas
	2.1. Is Locke’s Ontological Formula of “Person-Property” a Case of the Linguistic Structure of “Subject-Predicate”?
	2.2. Locke’s Ontological Formula of “Person-Property” Creates a Peculiar Concept of Ownership Rights
	2.3. An Analogy between Property, Slavery, and Money
	2.4. Linear or Recurrent
3 The Origin of Modern Money—Modern Money as a Trust
	3.1. Bills of Exchange and the London Goldsmith Bankers’ Notes
	3.2. Methods of Maintaining a Fractional Reserve
		Permanent Indebtedness & Liquidity
	3.3. The Nature of the London Goldsmith Bankers’ Deposit-Taking
		Economists’ Understandings of Goldsmith Bankers’ Deposit-Taking
	3.4. Goldsmith Banking as a Trust
	3.5. Transforming into the Capitalist Money Economy
	3.6. Summary
4 The Political Economy of Modern Money in Early Modern Times: Indebted Personae and the Rise of Modern Money
	4.1. Modern Banking as a Trust Scheme
	4.2. Acceptance for the Payment of Tax
	4.3. Modern Politics as the Constructor of Modern Banking
	4.4. Modern Politics as a Trust Scheme
	4.5. Representative Democracy as a Trust
	4.6. Socialization of Debt
5 Shadow Banking in Neoliberalism
	5.1. Money Market Funds and Propertization
	5.2. Propertization and the Crisis of 2008
6 Person, Property, and Trusts: Revisited
	6.1. Trusts and the Person-Property Formula
	6.2. Modern Business Corporations as a Trust
		The Nature of Shares
		Social Irresponsibility and Inequality
	6.3. Quantitative Easing as a Trust
7 The Fall of the Neoliberal Form of Finance and Its Predicaments
	7.1. The Withering of Private Banking and Finance
	7.2. The Inflationary Period
	7.3. Demography and Globalization
	7.4. Global Inflation
	7.5. The Privilege of Being the World’s Reserve Currency
	7.6. Effects of Quantitative Easing
	7.7. Beggar-Thy-Neighbor and Global Inflation
	7.8. Genuine Solution?
8 What is to be Done?: Cooperative Basic Capital and the Abolition of the Hybridity
	8.1. Abolishing the Hybridity
	8.2. Basic Capital as a New Method of Wealth Redistribution
		Contemporary Proposals for Basic Capital
		Basic Capital in Ancient Times
			Plato’s Klēros
			Mencius’s Well-Field System
		Breaking Down the Dichotomy between the Private and the Public
		Cooperative Basic Capital
			Duty to use Productively: Workers’ Cooperatives
			Distinguishing Unproductive Debts from Productive Debts
			Financing Basic Capital: Social Inheritance
Index