ABSTRACT
The phenomena of the money economy are born primarily of that type of mental energy which is called intellect as distinguished from sentiment and feeling. Both money and intellect are indifferent to the individual peculiarities of life's contents. The money economy creates an abstract structure or system which consists of the purely economic values differentiated from objects. The differentiation between the subjective and objective aspects of mental life already referred to becomes once more manifest in modern times in the separation between subjective and objective culture. The function of money in the growing discrepancies is most important in the fields in which objective culture outruns subjective culture. Modern society is a monetary society not merely because its economic transactions are based on money, or because its manifold aspects are influenced by money, but because it is in money that the modem spirit finds its most perfect expression.
