Heterogeneous reciprocal gifts injected with money’s character resemble purchase

Evidence

If A does something for B and trusts B to reciprocate in the future, this establishes an expectation in A and an obligation on the part of B. This obligation can be conceived as a credit slip held by A for performance by B. If A holds a large number of these credit slips, for a number of persons with whom A has relations, then the analogy to financial capital is direct. These credit slips constitute a large body of credit that A can call in if necessary-unless, of course, the placement of trust has been unwise, and these are bad debts that will not be repaid. — Coleman, SocialCapitalCreation-1988, 82 (#corroborates, via linked claim)

The general acceptance of money, its ease of transport, its eventual sublimation into cashless transactions in bank drafts and bills of exchange—all these allow the effects of money to extend into unboundable distances, and ultimately to engender from the whole civilized world a single economic circle with interpenetrating interests, complementary sectors of productivity, and similar practices. In the other line of development, money causes an enormous individualization of the participant in the economy. The form of cash wages makes the worker infinitely more independent than does any kind of payment in the primitive economy. The possession of money gives a man previously unheard of freedom of movement. The liberal norms that are regularly associated with the cash economy set each individual in a free competitive struggle with every other. And finally, no less than the dilation of the economic circle, this competition compels a specialization of function that would not otherwise come into question, one whose extremes of compartmentalization are made possible only by accommodations in the framework of a very large circle. — Georg Simmel, on individuality and social forms_…, 664 (#corroborates, via linked claim)

Categorization

• XREF: connects to: Trust-based reciprocal favors operate like financial capital — Coleman, SocialCapitalCreation-1988, 82; Economic value emerges through the distance exchange creates between self and object — Georg Simmel, on individuality and social forms_…, 250; Trust-based obligations function as exchangeable credit within social relationships. (+3 more)

Related

• Trust-based reciprocal favors operate like financial capital (similarity 0.88)
• Trust-based obligations function as exchangeable credit within social relationships. (similarity 0.79)

Broader Connections

• Trust-based reciprocal favors operate like financial capital #corroborates (0.85) — Coleman, SocialCapitalCreation-1988, 82
• Trust-based obligations function as exchangeable credit within social relationships. #corroborates (0.80)
• Money expands economic circles and individualizes participants simultaneously #corroborates (0.78) — Georg Simmel, on individuality and social forms_…, 664
• Economic value emerges through the distance exchange creates between self and object #qualifies (0.72) — Georg Simmel, on individuality and social forms_…, 250