From the Origin to the Future of Money

From the Origin to the Future of Money

31.3.-2.4.2027

Institute of Philosophy and Scientific Method (JKU Linz, Austria)

Political and scientific debates about the future of money are often underpinned by diverging accounts of money’s origin. This pattern appears to be relatively stable in the history of monetary theory. Carl Menger put forward an explanation of the spontaneous emergence of money as a market phenomenon which is invoked by later members of the Austrian School in their argumentation against state intervention in the monetary system.Georg Friedrich Knapp described money as a “creature of the legal order”; Alfred Mitchell-Innes understood money as credit. Both inspired post-Keynesians and proponents of MMT to advocate for the active construction and management of monetary systems. Karl Marx based his rejection of monetary reform on his view of money as a necessary feature of capitalism which, if abolished, would spontaneously re-originate.

How to best make sense of the connection between descriptive accounts of the origin of money and normative proposals for the future of money? Do investigations into money’s origin allow insights about its “essential nature” which, in turn, has normative implications? Are positions regarding the origin, nature, and politics of money as well as the proper method of investigation embedded in distinct worldviews? Or is the supposed connection merely a result of naturalist fallacies and strategic attempts at persuasion?

Addressing these interdisciplinary questions requires joint efforts by philosophers, economists, and historians. This workshop aims to facilitate such fruitful interaction and cooperation. Topics for submission include but are not limited to:

·       Development of different schools of monetary theory and their interaction

·       Comparing and evaluating theories of the origin of money

·       “What is money”: essentialism vs. nominalism

·       Descriptive and normative aspects of monetary theory

·       Discretionary vs. rule-based monetary policy

·       Contemporary proposals for the future of money (cryptocurrencies, CBDC, MMT, etc.)

·       Methodological individualism and its discontents

·       Methodological problems of different price indices (CPI, OOHPI, …)

·       Worldviews and adversarial collaboration

Confirmed Speakers: Jan Greitens (Westfälische Hochschule), Francesco Guala (University of Milan)

Abstracts should be 300-400 words (including references, if needed) and be submitted via e-mail to [email protected], in an editable format (DOCX, ODT, etc.). All presentations are in person in Linz.

Deadline for submissions: 10.12.2026

Notification of acceptance: 23.12.2026

Scientific Committee: Alexander Linsbichler (chair) (JKU Linz, University of Vienna), Jakob Gschwandtner (JKU Linz), Reinhard Neck (Alpen Adria Universität Klagenfurt), Julian Reiss (JKU Linz), Stefan W. Schmitz (Vienna Circle Society, Oesterreichische Nationalbank)

Organising Committee: Alexander Linsbichler (chair), Robert Frühstückl, Jakob Gschwandtner, Pauline Paulik, William Peden, Julian Reiss, Jónatan Sólon, Evelin Stockinger

The workshop is organised as part of the research project “Carl Menger as a Central Banker? From the Origin to the Future of Money.”, funded by the Anniversary Fund of the Oesterreichische Nationalbank (grant-number: 19001). No conference fee.