Money/Habermas: The capitalist economic system owes its emergence to a new mechanism, the control medium money. This medium specializes in the overall social function of economic activity provided by the state and forms the basis for a normative context of an outgrown subsystem.
Money is a special exchange mechanism that transforms utility values into exchange values and natural economic goods traffic into goods traffic. Only with capitalism does an economic system emerge that handles both internal traffic between companies and exchanges with non-economic environments, private households and the state, via monetary channels. The institutionalization of wage labor and the tax state is just as constitutive for the new mode of production as the emergence of the capitalist enterprise. Only when money becomes an intersystemic exchange medium does it create structure-building effects. And to the extent that the exchange with the social environment is regulated via the medium of money.
Money/Habermas: Money ((s) considered by Habermas at this point as a control medium) must be able to circulate ((s) i.e. it must be temporarily in the possession of an individual). It must also be possible to deposit it and invest it according to Schumpeter's model. In a monetarised economy, there are basically four options for owning money: hoarding (withdrawing from the cycle) or spending (on goods), saving ((s) See also Saving/Rawls) or investing ((s) in means of production)._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Der philosophische Diskurs der Moderne Frankfurt 1988
Theorie des kommunikativen Handelns Bd. I Frankfurt/M. 1981
Theorie des kommunikativen Handelns Bd. II Frankfurt/M. 1981