Money Has No Value

"The provocative, counterintuitive title challenges us to think as deeply as Sam Chambers has done in Money Has No Value. In doing so, we see how meticulous scholarship and relentless logic can take us to a new level of understanding beyond the confused debates that have dogged the theory of money for centuries."

? Geoffrey Ingham, Professor Emeritus at Cambridge University, author of The Nature of Money

"Money, Chambers shows in this important book, is at heart always a social relation of credit. But what would it mean for a credit theory of money to take seriously the role of the state as one of the primary sites of capitalist production? Building on a powerful re-reading of early-twentieth century theories of credit, Money Has No Value offers a seminal intervention in foundational debates over the nature of money and carves out an original place for a novel conception of credit money. Chambers questions not just received orthodox wisdom but also deftly challenges recent revisionist understandings of money. Brilliant, elegant, and written with revisionist verve, Money Has No Value is an essential contribution for theorists, historians, and students of contemporary money alike."

? Stefan Eich, Georgetown University, author of The Currency of Politics: The Political Theory of Money from Aristotle to Keynes

"Chambers takes on an immense and dual task: recalibrate the immensely complicated scholarship on money in order to rethink the tangled web of assumptions we hold about it. That he does so with such originality, rigor, and clarity is even more impressive. The stakes for understanding money have never been higher, and this book - one of the most important of its kind - rises to the challenge."

? Jacob Swanson, Georgetown University