PHILOSOPHY OF MONEY AS FOUNDATIONAL FRAMEWORK FOR THE CONCEPTUAL ORDER OF THE INTERNATIONAL MONETARY AND FINANCIAL SYSTEM

Abstract

This article delves into the foundational philosophy of money, exploring its pervasive influence on the conceptual framework of the global financial and monetary systems. Tracing philosophical attitudes towards money from ancient to modern times, it critically examines the moral and ethical tensions inherent in the relationship between money and truth. The analysis begins with classical antiquity, where philosophers like Plato and Aristotle juxtaposed the pursuit of truth with the economic functions of money, viewing it as a morally corrupting influence that impedes the genuine search for wisdom. The narrative progresses through history, highlighting how subsequent philosophers have consistently mirrored this scepticism towards the monetisation of human values.

The discussion extends into modern philosophical interpretations, notably Georg Simmel’s “Philosophy of Money,” which articulates money’s dual role as both a disruptor and an integrator within society. Simmel’s analysis portrays money as a fundamental mediator in social relations, yet also a catalyst for alienation and reification, reflecting a deeper philosophical inquiry into the nature of value and the ethical implications of economic interactions. By engaging with these philosophical discourses, the article aims to provide a comprehensive understanding of how money has been perceived and theorised as a force that shapes societal structures and human interactions. It invites readers to reconsider the ethical dimensions of economic practices and the profound impact of monetary philosophy on the fabric of modern society, advocating for a critical reassessment of the values that govern our financial and social systems. Through this exploration, the article contributes to a deeper intellectual discourse on the role of money in shaping not only economic but also cultural and ethical landscapes.