The advent of virtual currencies such as bitcoin raises a pressing question for lawmakers, regulators, and judges: should bitcoin and other virtual currencies be classified as money or currency for legal and regulatory purposes? I examine two different approaches to answering this question—a descriptive approach and a normative approach. The descriptive approach says that bitcoin and other virtual currencies should be classified as money or currency just in case they really are money or currency, whereas the normative approach says that (...) this question of classification should be answered on the basis of substantive normative considerations. I argue against the descriptive approach and in favor of the normative approach. (shrink)

This paper is an investigation into the metaphysics of social objects such as political borders, states, and organizations. I articulate a metaphysical puzzle concerning such objects and then propose a novel account of social objects that provides a solution to the puzzle. The basic idea behind the puzzle is that under appropriate circumstances, seemingly concrete social objects can apparently be created by acts of agreement, decree, declaration, or the like. Yet there is reason to believe that no concrete object can (...) be created in this way. The central idea of my positive account is that social objects have a normative component to them, and seemingly concrete social objects have both normative and material components. I develop this idea more rigorously using resources from the Aristotelian hylomorphic tradition. The resulting normative hylomorphic account, I argue, solves the puzzle by providing a satisfying explanation of creation-by-agreement and the like, while also avoiding the difficulties facing extant accounts of social objects. (shrink)