The communicative turn in money production and central banking

Abstract

This intervention expands Stefan Eich’s analysis of the parallel between language and money in The Currency of Politics by emphasising the increasing importance of linguistic communication within processes of production. This expansion has had an impact on monetary policy and on the communicative strategies of central banks. The suggestion is to integrate Eich’s call for the politicisation of monetary design with an appraisal of post-fordiist productive processes and the importance of money creation for the valorisation of those processes. If this reading of the expansion of the logic of economic value to linguistic communication is correct, then any call for a monetary design of money that works like public speech ought to be carry forward cautiously, in light of the colonisation of the latter (speech) by market forces

Keywords

• political currency
• Locke
• Keynes
• communicative action
• central banks