Bruce G. Carruthers and Laura Ariovich examine the social dimensions of money and credit at both the individual and corporate levels, from the development of personal credit in a consumer society to the role of government in the creation of money. In clear prose, they illustrate how the overall economy is governed by the financial system and the flow of capital into, and out of, firms. They also explore the social meanings of money, and how people distinguish between "dirty" and "clean" money.
This accessible and engaging book will be essential reading for upper–level students of economic sociology, and those interested in how the bills, coins, and plastic in our pockets shape the world in which we live.
Chapter 1: Introduction.
Chapter 2: A Brief History of Money.
Chapter 3: The Social Meaning of Money.
Chapter 4: Credit and the Modern Consumer Society.
Chapter 5: Credit and the Modern Corporate Economy.
Chapter 6: Conclusion.
Mark Granovetter, Stanford University
"Money and Credit offers a pithy, fast–moving introduction to the sociology of money and credit, chronicling where modern monetary systems came from, how people assign social meaning to money, how consumer and corporate credit markets developed, and how the current system of credit operates for families and Fortune–500 companies alike. Carruthers and Ariovich provide insights not only into how modern currency and credit markets work, but into why they sometimes fail to stabilize value or to ensure that credit is given only where credit is due. This lucid and engaging book should be required reading for students of economic sociology."
Frank Dobbin, Harvard University
"Few books succeed in being both scholarly studies and textbooks at one and the same time, but Money and Credit is an exception. Written in an engaging and easy style, and full of interesting and important information on money and credit from early history to the current financial crisis, this important book will appeal to a wide audience. It is also likely to become the standard work in the sociology of money and credit."
Richard Swedberg, Cornell University