This paper searches early Greek texts (Homer, Herakleitos, Parmenides, Plato) for the genesis of the idea of the individual mind or soul as a unitary site of consciousness, and explores the relation of this genesis to the first monetisation in history. Money simultaneously promotes the isolated autonomy of the individual and provides a model (the unification of diversity by semi-abstract substance) that shapes both the unity of individual consciousness and the presocratic conception of the cosmos as constituted by a single (...) semi-abstract substance. The argument confirms and develops the importance accorded by Alfred Sohn-Rethel to the ‘real abstraction’ of commodity-exchange in the origins of Greek philosophy. (shrink)

Why are people interested in money? Specifically, what could be the biological basis for the extraordinary incentive and reinforcing power of money, which seems to be unique to the human species? We identify two ways in which a commodity which is of no biological significance in itself can become a strong motivator. The first is if it is used as a tool, and by a metaphorical extension this is often applied to money: it is used instrumentally, in order to obtain (...) biologically relevant incentives. Second, substances can be strong motivators because they imitate the action of natural incentives but do not produce the fitness gains for which those incentives are instinctively sought. The classic examples of this process are psychoactive drugs, but we argue that the drug concept can also be extended metaphorically to provide an account of money motivation. From a review of theoretical and empirical literature about money, we conclude that (i) there are a number of phenomena that cannot be accounted for by a pure Tool Theory of money motivation; (ii) supplementing Tool Theory with a Drug Theory enables the anomalous phenomena to be explained; and (iii) the human instincts that, according to a Drug Theory, money parasitizes include trading (derived from reciprocal altruism) and object play. (Published Online April 5 2006) Key Words: economic behaviour; evolutionary psychology; giving; incentive; money; motivation; play; reciprocal altruism. (shrink)

The purpose of this paper is to discuss the role of financial practice in the development of mathematics as applied in human judgement. The basis of the paper is in historical research from the 1990s that argues that the monetisation of western commerce, which abstracted value into quantified price, was synthesised with scholastic analysis resulting in a “mathematical mechanistic world picture” that led to the widespread use of mathematics in science from the seventeenth century. An aspect of this process was (...) the quantification of chance that led to the development of mathematical probability, the branch of mathematics most relevant to judgement and the focus of this paper. Ideas from this historical research are related to the fundamental theorem of asset pricing, the foundational theory of contemporary financial mathematics. The paper observes that vestiges of medieval scholastic attitudes to financial ethics can be discerned in the FTAP, offering a novel interpretation of the mathematical theorem. The paper then considers the Dutch book argument, the most popular justification for subjective probability. The paper’s main contribution is in describing the significance of financial practice in validating the DBA and the paper explains how the FTAP addresses some criticisms of how the DBA represents beliefs. The conclusions emphasise the distinction between pure and practical reasoning and that this should be mirrored in a distinction between the mathematics of physica and practica. This point is important as mathematics is becoming more widespread in modelling, and directing, social systems. (shrink)

This paper discusses the relationship between Kantian idealism and Marxian materialism. Part I examines the reasons this relationship is misconstrued to be predominantly a matter of practical philosophy and turns to the neglected works of Alfred Sohn-Rethel and Richard Seaford to outline the importance of money for understanding Kant’s theoretical work. Part II considers an objection that Kant confuses the commodity form for the transcendental object of experience. I am ultimately concerned with defusing the accusation that the identity of the (...) commodity with a Kantian thing renders Kantian idealism “bourgeois” in the pejorative sense. Money is implicated, historically and conceptually, in the very intelligibility of metaphysics. In that case, Kantian idealism and Marxian materialism are two sides of the same coin. (shrink)

This paper uses a problematic passage at Phaedo 69a–c as a case study to explore the advantages we can gain by reading Plato in his cultural context. Socrates argues that the common conception of courage is strange: people fear death, but endure it because they are afraid of greater evils. They are thus brave through fear. He proposes that we should not exchange greater pleasures, pains, and fears for lesser, like coins, but that there is the only correct coin, for (...) which we must exchange all these things: wisdom (phronēsis). Commentators have been puzzled by the precise nature of the exchange envisaged here, sometimes labelling the coinage metaphor as inept, sometimes describing this stretch of argument as “religious” and thus not to be taken seriously. The body of the paper looks at (1) the connection between money and somatic materialism, (2) the incommensurability in Plato of financial and ethical orders, (3) financial metaphors outside Plato that connect coinage with ethics, (4) intrinsic and use values in ancient coinage, and (5) Athenian laws on coinage, weights, and measures that reflect anxiety about debased coins in the fifth and early fourth centuries. It sees the Phaedo passage as the product of a sociopolitical climate which facilitated the consideration of coinage as an embodiment of a value system and which connected counterfeit or debased currency with debased ethical types. Athenians in the early fourth century were much concerned with issues of commensurability between different currencies and with problems of debasement and counterfeiting; understanding this makes Socrates’ use of coinage metaphors less puzzling. Both the metaphor of coinage and the other metaphors in this passage of the Phaedo (painting and initiation) engage with ideas of purity, genuineness, and deception. Taken as a group, these metaphors cover a large area of contemporary popular culture and are used to illustrate a disjunction between popular and philosophical ways of looking at value. (shrink)

Se indaga la relación que se da en la República entre los dos significados de ousia: como propiedad en el sentido de posesiones y riqueza, o en el sentido de esencia o sustancia. Aparte de las relaciones económicas asociadas al préstamo, al intercambio y al interés, se examina la función que, respecto de la ousia, cumple la moneda en la economía como recurso para disociar la riqueza de las posesiones, con lo cual logra un nivel de universalidad y equivalencia equiparable (...) al del propio ser. The article inquires into the relation established in the Republic between the two meanings of ousia: property in the sense of possessions and wealth, and essence or substance. Besides the economic relations associated with loans, exchange, and interest, the paper examines the role of currency in the economy, with respect to ousia, as a means of dissociating wealth from possessions, thus achieving a degree of universality comparable to that of being itself. (shrink)

En el presente artículo se indaga acerca del conocido “mito del anillo de Giges” en el libro II de la República de Platón, en el que se lleva al límite la noción degradada de la vida justa para plantear de forma radical el problema principal de este diálogo. Imágenes y reflexiones conforman la escena de esta alusión a la inquietud universal por la capacidad de elección humana y su responsabilidad con la justicia. Cuestiones de historia, política y economía hacen parte (...) de esta construcción, con referencias a Arquíloco y Heródoto, de modo que el mito se muestra como una invitación a aceptar la responsabilidad de elegir, recordando que los hombres viven en el seno de una comunidad y tienen distintos medios para modificar la apariencia de esta presencia. (shrink)

In this paper I first aim to identify, from a perspective mindful of both analytic and Continental traditions, the central normative issues at stake in the various debates concerning commodification in law. Although there now exists a wealth of thoughtful literature in this area, I often find myself disoriented within the webs of moral criteria used to analyze the increasingly ubiquitous practice of converting legal goods into monetary values. I therefore attempt to distinguish and organize these often conflated conceptual distinctions (...) across several registers of moral analysis. Second, I formulate what I consider the most illuminating questions regarding the criteria used to evaluate commodification in law. Critiques of commodification in law face what I call problems of ideology, intractability, and hyperbole, and identifying these issues helps to explain the momentum of the law and economics movement. (shrink)

To most, myths are merely fantastic stories. But for Luc Brisson, one of the great living Plato scholars, myth is a key factor in what it means to be human – a condition of life for all. Essential and inescapable, myth offers a guide for living, forming the core of belonging and group identity. In 1999 Quebec classicist Louis-André Dorion published a series of French conversations with Brisson on the idea of myth. In Making Sense of Myth Gerard Naddaf offers (...) an extended and updated English translation of these conversations, as well as a new set of discussions between himself and Brisson. Beginning with Brisson's childhood in the village of Saint-Esprit, Quebec, through his education as a gifted child in minor seminaries starting at age eleven, and continuing with his years in Paris, first as a graduate student and later at the Centre national de la recherche scientifique (CNRS), Brisson tells the story of his escape from an all-encompassing myth – the one promulgated by the Roman Catholic Church. The philosopher situates Quebec society as inseparable from the history of the Catholic Church in Quebec, and argues that this correlation offers a perfect paradigm of myth and mythmaking. Naddaf’s introduction and afterword contextualize the conversations by discussing Brisson’s and Plato’s understanding of the origin and meaning of myth, elaborating on the role of myth in anthropogeny, in the creation of selfhood, and in multiculturalism. Making Sense of Myth promises both a philosophy of myth and a philosophy of life, one inspired by Brisson’s lifelong engagement with the great Western philosopher Plato. (shrink)

Seaford’s recent work has revived and further substantiated a line of argument that had been developed by Marxist scholars claiming a central role for money in the genesis of philosophical thought. In a nutshell, this line of argument holds that beneath the abstractions in which philosophy breathes and with which philosophy works we can trace the real abstraction of the money form as embodiment of abstract social labour. Following this perspective, I will try to demonstrate the role money plays in (...) Plato’sRepublic, focusing on Booki. (shrink)

Insisting on the status of money as a creature of both the market and the state, this article challenges dualistic understandings of capitalist imperialism as entailing two fundamentally distinct logics, one capitalist, the other territorial. In opposition to the dual-logics position, the article argues for the distinctiveness of capitalist money in terms of a complex butunitarysocio-economic logic. The social dynamism of this logic involves the spatial-territorial extension of the domain of modern value relations, embodied in fully-capitalist money. Departing from the (...) development of coinage in ancient Greece, the article proceeds to identify the 1690s in Britain as the decisive moment in the emergence of a new and distinctively capitalist form of (world) money, institutionally based upon the Bank of England, in which state debt was thoroughly integrated with private financial markets. The crucial role of the Bank of England in this new monetary system is shown to have pivoted on its capacities to finance Britain’s inter-colonial wars. Colonialism, war, slavery and dispossession underline the omnipresence of ‘blood and dirt’ (Marx) in the development and reproduction of capitalist impersonal power as expressed in world money. Undoing the impersonal power characteristic of bourgeois money thus entails undoing the economic dispossession of the labouring poor, which forms the basis of their ‘possession’ by capital. (shrink)

This article focuses on the introduction, diffusion and function of coinage in Sybaris and Metapontium, cities considered the first to mint coinage in southern Italy. In this paper, there is an effort to combine a series of numismatic data along with non-numismatic ones in order to draw broader conclusions on the introduction of coinage and its impact on the societies of these two poleis. The main argument is that coinage was introduced in order for the elite, rich landowners governing the (...) cities to profit from selling their agricultural products. Nevertheless, the demos benefited also from coinage, as the minting of fractions reveals. This group also had a certain political power in these two cities and their interests were taken into consideration by the ruling elites. The spread of the coinage of these two cities in southern Italy and other areas suggests that ultimately coinage served, already from the Archaic period, as an important tool for all kinds of economic transactions of which trade constituted the greatest part. (shrink)

This paper explores the role the Panhellenic centers played in facilitating the circulation of wisdom in ancient Greece. It argues that there are substantial thematic overlaps among practitioners of wisdom , who are typically understood as belonging to different categories . By focusing on the presence of σοφοί at the Panhellenic centers in general, and Delphi in particular, we can acquire a more accurate picture of the particular expertise they possessed, and of the range of meanings the Greeks attributed to (...) the word σοφία. This approach seeks to challenge the conventional categories of modern scholarship and to offer a broader and more inclusive interpretive framework in its stead. One such thematic overlap is the way in which many σοφοί are described as exerting an almost uncanny, yet highly conventional ability to attract listeners and enchant them with their verbal performances. There is plenty of material to support the view that σοφοό, through tapping into the repository of σοφία that Delphi constituted and by aligning themselves with its authority, were seen as themselves being a conduit for a similar type of charismatic speech. (shrink)