When Money Changes Society: The case of Sardex money as community

199 Pages·2020·2.766 MB·English

by  Giacomo Bazzani

Wirtschaft + Gesellschaft
Giacomo Bazzani
When Money
Changes Society
The case of Sardex money as community
Wirtschaft + Gesellschaft
Series Editors
Andrea Maurer, FB IV Soziologie, Universität Trier, Trier, Germany
Uwe Schimank, SOCIUM Forschungszentrum Ungleichheit und Sozialpolitik,
Universität Bremen, Bremen, Germany
Wirtschaft und Gesellschaft ist ein wichtiges Themenfeld der Sozialwissenschaften.
Daher diese Buchreihe: Sie will zentrale Institutionen des Wirtschaftslebens wie Märkte,
Geld und Unternehmen sowie deren Entwicklungsdynamiken sozial- und gesellschaft-
stheoretisch in den Blick nehmen. Damit soll ein sichtbarer Raum für Arbeiten geschaf-
fen werden, die die Wirtschaft in ihrer gesellschaftlichen Einbettung betrachten oder aber
soziale Effekte des Wirtschaftsgeschehens und wirtschaftlichen Denkens analysieren.
Die Reihe steht für einen disziplinären wie theoretischen Pluralismus und pflegt ein
offenes Themenspektrum.
More information about this series at http://www.springer.com/series/12587
Giacomo Bazzani
When Money Changes
Society
The case of Sardex money as community
Giacomo Bazzani
Department of Statistics, Computer Science,
Applications “G. Parenti”
University of Florence
Firenze, Italy
ISSN 2626-6156 ISSN 2626-6164 (electronic)
Wirtschaft + Gesellschaft
ISBN 978-3-658-28532-6 ISBN 978-3-658-28533-3 (eBook)
https://doi.org/10.1007/978-3-658-28533-3
© Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2020
This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the
material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation,
broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage
and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or
hereafter developed.
The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does
not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective
laws and regulations and therefore free for general use.
The publisher, the authors and the editors are safe to assume that the advice and information in this book
are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the
editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors
or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in
published maps and institutional affiliations.
Planung/Lektorat: Cori Antonia Mackrodt
This Springer VS imprint is published by the registered company Springer Fachmedien Wiesbaden GmbH part
of Springer Nature.
The registered company address is: Abraham-Lincoln-Str. 46, 65189 Wiesbaden, Germany
Acknowledgements
This book is the result of research undertaken in the PhD programme in Social and
Political Change at the Universities of Turin and Florence. My supervisor was Prof.
Carlo Trigilia who accompanied the research in all its parts with passion, availability and
professionalism. The entire PhD programme board has always encouraged and followed
all the research with useful tips. In particular, I must thank Prof. Marco Bontempi who
provided constant help, support and encouragement at every stage of the research.
Thanks are due to Sardex Ltd, its founders and all the staff whose willingness and
availability made this research easier.
The research benefited from a One Year Research Grant (91660080) obtained from
the DAAD (German Academic Exchange Service) which made it possible to refine the
interpretation of the results during the 2017/2018 academic year while visiting the Max
Planck Institute for the Study of Societies in Cologne and the University of Trier. An
earlier version of the thesis was discussed at the Max Planck Institute for the Study of
Societies in Cologne and benefited from the helpful advice of the Director, Prof. Jens
Beckert, Wolfgang Streek, Fritz Scharpf, John Wilkinson, Benjamin Braun, Gregory
Ferguson as well as numerous researchers at the institute. An earlier version of the
research was also presented at Trier University and it benefited from the useful sugges-
tions of Prof. Andrea Maurer’s research group, especially Michael Anger and Clemens
Schmidt. Special thanks go to Prof. Andrea Maurer for her constant feedback which
helped identify the social mechanisms and for her enthusiasm throughout the research.
Parts of the research were also discussed at conferences and seminars at the Panteion
University of Social and Political Sciences in Athens, The New School in New York,
the University of Constance, the University of Florence, the University of Lyon 1,
Universitat Oberta de Catalunya of Barcelona, the University of Helsinki, the University
of Oslo, the University of Rome “La Sapienza” the many comments received were ben-
eficial. I had the opportunity to discuss the research and receive very useful advice from
Patrick Aspers, Delia Baldassarri, Filippo Barbera, Jérôme Blanc, Maurizio Catino,
Dimitri D’Andrea, Nigel Dodd, Alberto Gherardini, Giorgio Grossi, Peter Hedström,
Lars Mjøset, Paolo Perulli, Aaron Pitluck, Francesco Ramella, Roberta Ricucci and Akos
v
vi Acknowledgements
Rona-Tas. Useful advice also came from the two reviewers who contributed to the final
version of the text through two review rounds.
The English language manuscript editing was funded by the Inter-University Centre
for Political Sociology of the Universities of Florence, Perugia and Genoa. Jane
Ferguson Simpson has done an excellent and accurate job of translating and
proof-reading which led to the current version of the text.
This project has taken five years and I would never have been able to carry it out on
my own: I wish to thank all my family who accompanied me with trust and generosity
during this extraordinary experience.
Contents
1 Introduction ..................................................... 1
References ....................................................... 7
2 A Mechanism Approach for Money ................................. 9
2.1 The Origins of the Sociology of Money ........................... 9
2.2 The Contemporary Sociology of Money ........................... 12
2.3 An Analytical Approach to the Study of Money ..................... 17
2.4 Socio-Material Mechanisms .................................... 19
References ....................................................... 22
3 The Sardex Experience ............................................ 27
3.1 Money and Complementary Currencies ........................... 27
3.2 The Currency Forerunners to Sardex .............................. 28
3.2.1 Medieval Currencies .................................... 28
3.2.2 Wörgl: “Relieve Need, Provide Work and Bread” .............. 30
3.2.3 Wir .................................................. 31
3.3 A Brief History of Sardex ...................................... 33
3.3.1 Project Development .................................... 33
3.3.2 Launching the Company and Seeking Out Members ........... 36
3.3.3 Development Phases .................................... 37
3.3.4 The Current Configuration ................................ 40
3.3.5 Future Scenarios ........................................ 41
3.3.6 Scientific Research on Sardex ............................. 42
3.4 Sardex at Work ............................................... 43
3.4.1 Characteristics of the Sardex Currency: Interest-Free Mutual
Credit ................................................ 43
3.4.2 Sardex Members Network ................................ 45
3.4.3 The Role Played by Sardex Ltd ............................ 47
3.5 A Summary of How Sardex Works ............................... 55
References ....................................................... 56
vii
viii Contents
4 Social Mechanisms Influenced by Sardex ............................. 59
4.1 Trust ....................................................... 59
4.1.1 Selection .............................................. 63
4.1.2 Signalling ............................................. 70
4.1.3 Reciprocity ............................................ 76
4.1.4 Monitoring and Sanctioning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
4.1.5 Conclusions: Trust in Sardex .............................. 91
4.2 Cooperation ................................................. 97
4.2.1 Cooperation Mechanisms ................................. 97
4.2.2 Cooperation in Sardex ................................... 100
4.2.3 Conclusions ........................................... 107
4.3 Solidarity ................................................... 108
4.3.1 Opportunities .......................................... 110
4.3.2 Desires ............................................... 117
4.3.3 Beliefs ............................................... 126
4.3.4 Collective Action ....................................... 138
4.3.5 Conclusions: Solidarity in Sardex .......................... 148
4.4 The Generative Mechanisms of the Social and Economic
Effects of Sardex ............................................. 150
References ....................................................... 154
5 Conclusions ..................................................... 159
5.1 Sardex as an Economic Policy Tool ............................... 159
5.1.1 The Economic Effects of Sardex ........................... 159
5.1.2 Transaction Costs and Brokerage ........................... 160
5.1.3 Competition, Cooperation and Innovation .................... 164
5.1.4 Sardex Between Local Development
and Convergence Policies ................................ 167
5.2 The Social Functioning of Money ................................ 169
5.3 Performative Money: Between Individual and Society ................ 172
5.3.1 The Nature of Sardex Currency ............................ 172
5.3.2 Aspects of Monetary Policy from a Sociological Perspective ..... 175
5.3.3 Performative Money ..................................... 177
5.4 Further Research ............................................. 180
References ....................................................... 181
Appendix: Sampling and Methodologies ................................ 185
Abbreviations
F. Founder interview n°
E. Entrepreneur interview n°
CC Complementary currency
Sardex currency The circulating money expressed in Sardex
Sardex Ltd The company which founded, promotes and manages the
circulation of Sardex currency
Sardex network or network The network of companies using the Sardex currency
Sardex device All the technological and social elements involved in the
functioning of the Sardex currency
Sardex project The functioning of the Sardex currency and the economic
and political form of regulation of the economy embodied
ix