ABSTRACT
This chapter develops an internal critique of mainstream theories of money. It shows that the central notion of mainstream theory of money, fiat money, is more an obstacle than a help in dealing with the realization of desired transactions. The chapter tries to prove the existence of what mainstream economists incorrectly think to have micro-founded – in fact they have presupposed it – "fiat money" as a non-privately produced intermediary of exchange. It demonstrates the logical necessity on the basis of three fundamental postulates of a "legal money". The chapter also shows a new type of relations between economics and other social disciplines. It explains why working along a monetary analysis may help to re-evaluate the relations between economics and the "social sciences". As money matters as the criterion of distinction between economic and non-economic relations, the connexion between economics and other fields is clearly conceived which cannot be the case with a real approach.
