Money Fetishism

Money Fetishism

 

the worship of money and deification of it under conditions of the spontaneity and anarchism of production based on private property, a system in which people inevitably begin to treat each other as things or commodities. Money fetishism is a developed form of commodity fetishism. The socialist revolution uproots the basis of money fetishism. In the process of the construction of socialism, all elements of money fetishism disappear with the liquidation of the vestiges of capitalism.

Mentioned in ?
References in periodicals archive ?
Money fetishism is an important problem because modern growth economies are based on perpetually increasing the money supply though debt, as a means of spurring economic activity and prosperity.
Chapter 2 seeks to explain this relationship further by analyzing the shared foundation of money fetishism and religious fetishism: both are forms of idolatry, which is "fetishism of the sign" (53) and a subversion of natural teleology.