Keith Hart (London School of Economics and University of Pretoria) and Horacio Ortiz (Centre de Sociologie de l’Innovation, Paris)
There is much talk today of a financial and economic crisis comparable to the 1930s. With the threat of a currency war and the euro’s collapse looming, the specter of the Great Depression’s bloody aftermath has returned with a vengeance. Several versions of how to make human beings and build society co-existed during the Cold War, when much of the world won independence from colonial empire. Yet, discussion of humanity’s growing interdependence is today limited to a one-world capitalism driven by finance. What have anthropologists to say about that? It would seem very little. But a positive case can be made for the discipline’s contribution to public debate. We make such a case here. We review recent developments in the anthropology of money and finance, listing its achievements, shortcomings and prospects, while referring back to the discipline’s founders a century ago. Economic anthropologists have tended to restrict themselves to niche fields and marginal debates since the 1960s. We hope to reverse this trend by focusing on money’s role in shaping global society and bringing world history into a more active dialogue with ethnography.
Money and finance have been prominent in anthropology since its formation as a modern discipline. Rather than emphasize what money does, as the economists do — a medium of exchange, reserve fund or means of accounting – anthropologists can approach it as an integral part of the hierarchies and networks of exchange through which it circulates. Its multiple meanings in turn keep society together and reinforce the roles played by each member. Money’s capacity to transcend group boundaries drives the extension of society to more inclusive levels and transforms identities in the process. It is a commonplace for our discipline to show that money’s meanings and relations cannot be confined a single theory. Fieldwork-based ethnography – a commitment to joining the people where they live in order to discover what they do and think — was the principal achievement of twentieth-century anthropology; but it is insufficient for studying money (Hart 1986). The ethnographic revolution eventually removed world history from twentieth-century anthropologists’ repertoire. This is hardly conducive to the task of investigating money’s global role in our historical moment. Progress in economic anthropology depends on combining ethnography and world history within a critical perspective (Hann & Hart 2011). Continue reading ‘Money and finance: For an anthropology of globalization’ »