The Sociology of the Sociology of Money

Abstract

I offer a discussion of Simmel’s Philosophy of Money in comparison with the analyses of money in the writings of Marx, Weber and Durkheim. Based on this analysis, I argue that Simmel’s ambiguous status as a classic can be accounted for by some of the characteristics of his approach as well as the historical (non-)reception of his work. Simmel’s relative neglect in sociology for the better part of the century as well as his recent revival with the rise of the new cultural studies and the postmodern paradigm shift hint at an important interdependence between the history and systematics of sociological theory. The theme of money has not managed to be accepted as an undisputed topic of sociological reflection because of its non-independent status in most social theories (apart from Simmel’s) as well as the factual resistance to totalizing accounts (like Simmel’s) in the history of sociology. Recent transformations in social theory, however, indicate that money may, and to some extent already has, become a more autonomous topic of inquiry. In conclusion, I argue that Simmel’s work does lend itself to be taken up in postmodern perspectives and that the sociological study of money can likewise be appropriated by the new cultural studies. However, these new perspectives will have to come to terms with the modernist resistance of Simmel and the other sociological classics’ remaining influence in contemporary sociological theory.