Document Type : Original Article
Authors
1 PhD Student in Private Law at UT, Tehran, Iran
2 Prof., Faculty of Law & Political Science, University of Tehran, Tehran, Iran
3 LLM Student in Common Law at University of Montreal, Montreal, Canada
Abstract
The creation of money among people is one of the most complex questions in history. In this article, the authors seek to answer the question of how something in society comes to be accepted as money. Using an analytical-descriptive method and relying on library sources, the study concludes that money, as a social construct, emerges from the collective abstraction of humans who possess sufficient motivation to attribute a functional status to it. However, this abstract concept of money requires a tangible, externally verifiable counterpart to facilitate its entry into the most material aspect of human life—economic activity. This quasi-religious belief that upholds the existence of money did not emerge suddenly; rather, it has been repeatedly challenged, dismantled, and reestablished even more firmly over time. Moreover, the intermingling of money’s abstract nature with its external representations has often led to confusion, giving rise to diverse perspectives on its fundamental nature. Therefore, in the present study, different theories regarding the nature of money are examined in depth across four sections.
Keywords
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