Work

Money as Res Publica

Year: 2025

Type: article

Abstract: Our current monetary system is a public-private banking hybrid dominated by private interest, often at the expense of public purpose. This article proposes a conception of money as a “common credit” res publica—“a thing of the public”—such that banker powers of money creation and allocation (through lending) are held in trust and subject to regulation or replacement. The idea of common credit underwrites the conditional legitimacy of private bank money creation and the inherent legitimacy in public banking. It supports citizen objections to private banker domination, and it excludes banker claims of regulatory domination entirely.

Source: Free & Equal A Journal of Ethics and Public Affairs

DOI: 10.16995/fe.17777

Author: Aaron John James

Institution: University of California, Irvine

Language: English

Topic: Historical Economic and Legal Thought

Subfield: Political Science and International Relations

Field: Social Sciences

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: diamond

OpenAlex ID: W4413187272

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