This article was originally published in the
January-March, 2011 edition of 'Elements'. Translated from French by Tom Sunic.
MONEY
by Alain de Benoist
Of course, everybody prefers to have a little bit more than
a little bit less. “Money does not buy happiness, but it does contribute
to happiness” — as the saying goes. We need to find out, however, what
happiness means. Max Weber wrote in 1905: “A man by ‘his nature’ does not
want to earn more money; he only wants to live as he is accustomed to live and
earn as much as it is necessary for him.”
Numerous investigations have pointed out a relative contrast
between the rising standard of living and the level of satisfaction among
individuals. Past a certain threshold, having more money does not mean more
happiness. In 1974, in his studies, Richard Easterlin established that
the average level of satisfaction expressed by the population has remained virtually
unchanged since 1945, despite spectacular increase in wealth in developed
countries. (This “Easterlin paradox” has been recently confirmed.)
The failure of indices to measure material growth, such as the GDP, in order to
assess the level of real well-being, is also well noted — especially at the
level of a given community. There is no such service for undisputed choices
that would be able to compute individual preferences in terms of social
preferences.
It is tempting to see money as a power tool. Unfortunately,
the old project of radical separation between power and wealth (one is either
rich or powerful) will continue to be a dream. Once upon a time man was wealthy
because he was powerful; today he is powerful because he is wealthy. The
accumulation of money has rapidly become not the means for market expansion (as
some believe), but the goal for the production of commodities. Capitalism has
no goal other than boundless profit and endless accumulation of money. The
skill to accumulate money obviously gives discretionary power to those who have
it. Speculation with money dominates global governance. Speculative banditry
remains the preferred method of capitalist hoarding of wealth.
Money should not be confused with currency. The birth of
currency can be explained by the development of mercantile exchange. It is only
through trade exchange that objects acquire their economical
dimension. And it is also through exchange that the economic value
is obtained with complete objectivity, given the fact that exchanged goods must
skirt the subjective side of a single actor — so that goods can be
measured in terms of the relationship between different actors.
As a general equivalent, currency is intrinsically a factor
of unification. Reducing all goods to one common denominator automatically
makes all exchanges homogeneous. Aristotle already observed: “All
things that are traded must be somehow comparable. For this purpose currency
was invented, which later became, in a way, an intermediary. It is a measure of
all things.” By setting up a perspective from which the most diverse
things can be evaluated through single numbers, currency makes all things “equal” ; it
therefore, reduces all mutually distinguishing qualities to a simple logic of “more
and less.” Money is the universal standard which ensures the
abstract equivalence of all commodities. As a general equivalent it reduces all
quality to sheer quantity. The market value is only capable of a quantitative
differentiation.
But at the same time exchange also equalizes the
personalities of those who are in the “business” of trade. By showing
the compatibility of their offer and their demand, it establishes the
interchangeability of actors’ desires. Ultimately, any exchange leads to the
interchangeability of all human beings, who thus become objects of their own
desires.
The Monotheism of the Market
“The rule of money, writes Jean-Joseph Goux, is the
reign of the unique measure from which all things and all human
activities can be assessed…. What we observe here is the ‘monotheistic mindset’
regarding the notion of value as a general equivalent for all things. This
money rationality, based on a single standard of value, is fully consistent
with “theological univalence.” This can be called the rule of ‘market
monotheism.’ Money, writes Marx, is as a commodity, which leads to total
alienation because it produces global alienation of all other commodities.”
Money is much more than just money — and it would be a big
mistake to believe that money is “neutral.” No less than science, no
less than technology or language, money cannot be neutral. Twenty-three
centuries ago, Aristotle observed that “human need is insatiable.” Well,
“insatiable” is the right word here; there is never enough of it. And yes,
because there is never enough of it, there cannot be a surplus of it either.
The desire for money is a desire that can never be satisfied because it feeds
on itself. Any quantity of it whatsoever must be increased to the point
that better must always mean more.
The thing, of which one can always have more, one will
never have enough of. That is the reason why ancient European
religions continuously warned against the passion for money:
All these were the consequences of the
lust for money (the “Rheingold Curse“).
“We are running the risk,” Michael Winock wrote a
few years ago, “of seeing money and financial success become the only
standard of social prestige, the only purpose of life.” This is where we
are now. Nowadays, everybody craves money all over the world. The Rightwing has
been for ages its most devout servant. The institutional Left, under the guise
of “realism,” espoused the principles of the market economy — that is
to say, the liberal management of capital. The language of economics has become
ubiquitous. Money has become an obligatory rite of passage in all forms of
desires that express themselves on the trade register.
The money system, though, will not last long. Money will be
destroyed by money — by hyperinflation, bankruptcy and
hyper-debt. Probably, one will grasp by then that one can only be
rich by what one gives to others.
(Source)
Alain de Benoist is a philosopher residing in France.
His websites are: http://www.alaindebenoist.com/ and http://www.revue-elements.com/.
(Source)
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