Late Wittgenstein’s money
This essay examines the contemporary discourse on inflation through the lens of Wittgenstein’s late work on language games. Using his concept of hinge propositions – beliefs upon which language games depend – I offer a novel perspective on the public good that is price stability. In particular, I fi...
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| Format: | Article |
| Language: | English |
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Cambridge University Press
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| Series: | Finance and Society |
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| Online Access: | https://www.cambridge.org/core/product/identifier/S205959992400027X/type/journal_article |
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| Summary: | This essay examines the contemporary discourse on inflation through the lens of Wittgenstein’s late work on language games. Using his concept of hinge propositions – beliefs upon which language games depend – I offer a novel perspective on the public good that is price stability. In particular, I first consider the inflation hypothesis as a derivative of the commodity theory of money and therefore inherently linked to a purely quantitative regime of monetary management. I then argue that, based on the hinge proposition that money is a creature of law, money’s value might instead be grasped and engaged on the basis of its political and qualitative dimensions. |
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| ISSN: | 2059-5999 |