Philosophical Explorations
Saturday 8 September 2018
“Money’s Ontic – Part One: Monetarism and the Development of New Currencies” – Hannes Torbohm
When: Saturday 8 September 2018, 10.30 am – 12.30 pm
Please arrive a few minutes early for a prompt start at 10.30 am.
Where: The Literary & Philosophical Society (Lit & Phil), Lecture Room, 23 Westgate Rd, Newcastle upon Tyne, NE1 1SE.
Whilst in general our meetings will be held at the Lit & Phil (with a few exceptions), the room itself within the building will switch between the Lecture Room, the Loftus Room, the Small Meeting Room, and occasionally, the Reference (aka Silence) Room.
Description
In the post-2008 world we have seen a resurgence of scholarship purporting to discuss the existential situation of the modern human in an economic reality, at the same time we have seen a great development of technology in the fields of digital monies. However, so many of these scholars – be them neo-Marxists, Monetarists or avid Crypto-Traders – fail to consider what money is. Furthermore, this discrepancy becomes more problematic when their world views are built upon presuppositions, which are inherent to their understanding of money’s ontology. We will run two talks on this topic: which will both be 20-30 minute primers to the NPS Philosophical Explorations group and are aimed at beginners and people who have a general interest alike.
This talk aims to discuss monetarism and the developments from monetarist theory: specifically: a key monetarist (Friedman) and the development of a new currency (bitcoin) from this theory. This will instigate a discussion on the political and economic philosophy of the post Thatcher/Reagan governments. The talk will discuss what money is, what effects it has, and how it slots into a wider world-view.
It should be noted that this talk is not aiming at economic science, but rather economic philosophy. On top of this a deep/theoretical talk about bitcoin is not our aim and will be considered off topic if it arises.”
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Contribution towards room hire
A contribution of £2 is requested, for those attendees who can afford it, to cover the room hire costs.
Reading for the session
A note on the reading: The talk will build and explore the ‘highly recommended reading’, and thus it is crucial you get to it in some capacity. The ‘additional readings’ go into more depth for the Crypto-Currencies, but I understand that setting 60 plus pages of reading would be considered too much. If you do fail to have the time and would like to come along anyway please do, but I would greatly appreciate at least having read the chapter by Friedman at very least.
These texts are copyrighted but they are being shared under educational leniency – as the copyrighted material fulfils both the requirements of being less than 10% and only is one section: plus, it includes the copyright of the publishers if one would wish to dispute. The links to papers are open to the public, copyright is thus not a problem for promoting distribution channels.
Highly Recommended Reading:
Milton Friedman Capitalism and Freedom: (Chapter 3 only)
o https://drive.google.com/open?id=1le8HZM0V71LVCOubxO_BTz1CDJ6O6SCy
o (Contact me if the link does not work)
o If you are struggling for time just read the second section of the chapter (entitled: A Commodity Standard) – but I really would prefer if people read the whole thing.
Additional Reading:
· Satoshi Nakamoto’s White Paper: (the Intro, §’s 1, 5, 10 and 12/conclusion (about 1 A4 page in total))
o https://nakamotoinstitute.org/bitcoin/
o I am aware their language might be difficult, which is why I recommended specific sections – leave the rest, it is not necessary bar what I will mention and explain in the talk.
· Nick Szabo:
o https://nakamotoinstitute.org/shelling-out
o This one is long, which is why I put it in recommended, but I will be responding to his claims on money when I talk about crypto-currencies and post-monetarist developments.
A note about the speaker, Hannes Torbohm: I am a second/third year undergraduate at Newcastle University in the Philosophy department. I have been recognised by academic bodies for my work in economic sociology and my critiques of monetary theory. I am also running the newly founded Philosophical Economics group running from September 17th, with the funding and support of the NPS board. I should also clarify that I have no formal training in economics, but have spent the majority of my time as an undergraduate studying economic theories and related philosophies. I am not going into the realms of economic science, but rather wish to promote scholarship from outside the realms of economic departments into what we should think of money, and how it affects our lives.
Part two will a review of economic sociology and Georg Simmel (dates to be announced soon).
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