Money: a social contract or an “invisible hand” of inverted totalitarianism?
independant applied researcher
Please cite the paper as:
Raymond Aitken, (2016), Money: a social contract or an “invisible hand” of inverted totalitarianism?, World Economics Association (WEA) Conferences, No. 1 2016, Capital Accumulation, Production and Employment:, 15th May to 15th July 2016
I herein posit that money should be re-established as a corpus and apparatus of law that regulates economic production, exchange, and the equitable distribution of the economic surplus of “wealth” (thus generated through the specialised division of labour amongst the household of human society); and that such “wealth” be redefined to its original sense of individual human “well-being”, that arises from a social cohesion, based on the re-institution of the voluntary gift circuit of economic exchange. This approach conforms with the root meaning of “economics”, which is derived from two Greek words “oikos” (household as a social unit) and “nomos” (law): giving the meaning of managing the household according to law.
Money is herein redefined as an unconditionally transferable purchasing right, backed by a production obligation, which is notarised and administered as a public service, within the legal framework of an equitable social contract, through a system of a double entry social accounting, that is best carried out by an institutional architecture of transparent accountable Civil Society Organisations (CSOs).
This creative commons working paper, calls for a multidisciplinary working paper series, positing money as a phenomenon of social contract law, with a view to applying such collaborative research towards a clarification of legal positions in law, enabling a legal mobilisation of Civil Society for the implementation of Third Sector regulated special economic zones, to pilot and demonstrate an institutional architecture for a new non-partisan international monetary system for the real economy; which is not only socially equitable, and ecologically sustainable, but which is also immune from being used as an ”invisible hand” of undemocratic geopolitical power, predicated upon on a systemic process of unjust enrichment, through the illegitimate commodification of labour, land and money.