INNOVAR. Revista de Ciencias Administrativas y Sociales ISSN: 0121-5051 [email protected] Universidad Nacional de Colombia Colombia

Tognato, Carlo Bringing culture back in: A neo-Durkheimian perspective on central banking INNOVAR. Revista de Ciencias Administrativas y Sociales, vol. 18, núm. 31, enero-junio, 2008, pp. 93- 115 Universidad Nacional de Colombia Bogotá, Colombia

Disponible en: http://www.redalyc.org/articulo.oa?id=81803109

Cómo citar el artículo Número completo Sistema de Información Científica Más información del artículo Red de Revistas Científicas de América Latina, el Caribe, España y Portugal Página de la revista en redalyc.org Proyecto académico sin fines de lucro, desarrollado bajo la iniciativa de acceso abierto innovar31.indb 93 A neo-Durkheimian perspective Mots clé Mots monétaires. études les pour retombées les seraient en quelles et point, àquel adéquate, analytiquement est monétaires tions des ques néo-durkheimienne si une lecture d´évaluer est L´objectif de de la cet point article jusqu´au transformer. la monétaire sphère percé ont religieux récits les et métaphores les paradoxale, manière de et occasionnellement Cependant, moderne. de pure rationalité la plus la l´essence de reflet le sont indépendantes centrales banques les que e estimé a l´on passées l décennies des a cours Au r t n e c e u q n a b la de àl´étude néo�durkheimienne approximation :une culturel regard un Retrouver résumé clavePalabras mo estudios netarios. los para tener puede eso asuntos implicaciones qué los y de serlo, puede punto qué hasta neo-Durkheimiana adecuada, lectura una si analíticamente es evaluar es monetarios artículo este de propósito El transformarla. hasta monetaria esfera la percolar logrado han religiosas y narrativas metáforas las y paradójicamente, sin embargo, Ocasionalmente, moderna. racionalidad la de pura más esencia la reflejan independientes centrales bancas las que considerado ha se décadas pasadas las de curso el En central banca la de estudio al neo-Durkheimiana aproximación una cultural: mirada una Recuperando resumen words Key studies. monetary upon have may it analytically is implications what and so, is affairs it extent what to monetary of suitable, reading Durkheimian a whether discuss to is paper this of purpose The it. transform monetary and the into sphere percolate narratives and metaphors religious paradoxically, quite and however, Occasionally, rationality. modern of distillates institutional purest of the one as regarded been have banks central independent decades, few past of the course the In abstract Palavras–chave monetários. assuntos os para ter pode isso implicações eque sê-lo, pode ponto que até adequada, analiticamente é monetários assuntos dos neo-durkheimiana leitura uma se é avaliar artigo deste O propósito transformá-la. até monetária esfera a penetrar têm conseguido religiosas e narrativas as metáforas e paradoxalmente, não obstante, Ocasionalmente, moderna. lidade raciona da pura mais essência a refletiam independentes centrais bancas as que considerado foi passadas décadas das curso No central banca da estudo ao neo�durkheimiana aproximação uma cultural: visão uma Recuperando resumo lombia, Ciudad Universitaria, Bogotá. Universitaria, Ciudad lombia, Correspondencia: Clasificación JEL: Bringing culture back in: : banque centrale, culture, sociologie néo-Durkheimienne, programme fort en sociologie culturelle. culturelle. sociologie en fort programme néo-Durkheimienne, sociologie culture, centrale, : banque : Central banking, culture, neo-Durkheimian sociology, strong program in cultural sociology. cultural in program strong sociology, neo-Durkheimian culture, banking, : Central on central banking : bancacentral, cultura, sociologíaneo-Durkheimiana, fuerteensociologíacultural. programa : bancacentral, cultura, neo-durkheimiana, sociologia cultural. emsociologia forte programa Carlo Tognato, Centro de Estudios Sociales, of. 512, Unidad Camilo Torres, Universidad Nacional de Co de Nacional Universidad Torres, Camilo of. 512, Unidad Sociales, Estudios de Centro Tognato, Carlo Z1, Z13 Carlo Tognato* Recibido: noviembre de 2007 de noviembre Recibido:

A probado: marzo de 2008 de marzo probado: A - - - -

*

E-mail: E-mail: Milan. University, Bocconi from Economics in BA a and University Oxford from Relations International in MPhil an Italy, Ancona, of University the from Economics in a PhD (UCLA), Angeles Los at California of sity Univer the from Science Political in PhD a holds He University. Yale at Sociology Cultural for Center the of Fellow Faculty also is He Bogotá. Colombia, of University National the of (CES) Studies Social for Center the at Researcher Associate and Sociology of Department the at Professor Associate currently is Tognato Carlo [email protected] Innovar, banking central on perspective Aneo-Durkheimian in: ture back cul Bringing (2008). C. Tognato, 18 (31), 93-116. (31), . - - 10/07/2008 16:13:15

93 innovar economía y desarrollo innovar31.indb 94 94 innovar economía y desarrollo Die Tageszeitung Die Durkheim, as Bourdieu would seem to imply, to ana imply,to to seem wouldBourdieu as Durkheim, however,it, tempting.Is applyanalytically to possible Bourdieu’stheoreticallyprovokingandare comments institutional distillates of modern rationality. It is the havecentral banks been regarded independent as one of the purestdecades, few past the of course the In 1. Introduction rev. i Religious of Forms Elementary of Durkheim thesuggest that will I paper this In upon the sociology of money and banking? have move analytical an such would implications of so,what kind age?ourif And in monetaryaffairs lyze religion.” “monetarist a upon grounded“rationalized is mythology”thata to up ing Tietmeyer,former President Hans of the German central accused bank, of hold he interview an In enon. phenom a such of notice taken have to seems dieu Bour Pierre onlyprofession, sociological the Within artificial. and inauthentic as it dismiss generally it resist who nomenon and above it all never is consensual. Those contingentphea economic sphere is the awayfrom affairs monetary of displacement symbolic The life.” social “remoralizationof the to path the into stability monetary and abyss, moral a into society, of inflation compass moral the into turn banks central result, a public sphere. the As in affairs sentationmonetary of repre the mediate redemption and sin of doctrines and fall, the of legends origin, of myths metaphors, casionally, however, quiteand paradoxically, religious generally technicalprofile.keepshighly affairs Oc a monetary on discourse public if surprising not refore 2 1 tenance of central bank independence bank centraltenancetheyof far but so relevantculturestability thatis main forognized the policya fromstandpoint. Monetary scholars have rec approach to money and central most banking relevant this –I will suggest– is what makes a neo-Durkheimian And affairs. monetary of macro-embeddedness tural cul the comprehensive acknowledgement of more a can push the sociology of money andtowards banking banking central and moneyperspective on kheimian then tent.show will I thatadoptionthe neo-Dura of ex certain a to only but right, be to seemsBourdieu words, other In does. theory sociological temporary con within tradition neo-Durkheimian growing the suitable framework to interpret monetary affairs, while ium: so did Durkheim define religion.” delir grounded fully just is Bourdieu– –says thought “Tietmeyer beim Teutates”. Teutates”. beim “Tietmeyer staerken”. zu Ruecken den Tietmeyer Bundesbankpresident dem Grund, kein is Goldreserven den nach Griff “Waigels Dieter. Rulff, nn ovar. , June 2, 1997,, June p. 10. V ol. 18, 31, No. Sueddeutsche Zeitung Sueddeutsche 1 E Life itee’ sse of Tietmeyer’s system N ERO does not provide a providenot does

A 2 JUN , October 30, 1996. , October IO D E 2008 The The ------and central banking. next in a neo-Durkheimian research agenda on money tary scholars,mone and ofI will close bygrip indicating what analytical comes the escaped far so has that culture stability of notion the overlight shed to utes contrib it why show will I argument. my pitulating In transformations. moneyman and central could banking influence such discusshow thecultural macro-embeddedness ofGer then will and euro, the introductionof the preceded that decades the underwent in affairs monetary man Ger that transformations symbolic the address will I precisely,More affairs. monetary German of analysis neo-Durkheimianapplytheframework the will to I 3 In banking. andmoney of sociology the upon neo-Durkheimianhaveperspectivea adoption can of the consequencesthat the address then will and ing ing Durkheim to the study of money and central bank paper. In this of structure the out lay will I proceeding,Before comments. tocase,one the German since spurredthis Bourdieu’s concreteness, discussI will these points with referenceof sake the For culture. stability over grip analytical an get to manage finally will scholars monetary ing, bank central and money macro-embeddednessof al cultur the with stock fully taking by that, show will I Instead, stability. monetary to leads that culture a is culture stability a is, That it. of understanding cal have not been able to move beyond a merely tautologi tion of a suitable theoretical framework that can inter generallyforidentifica themodern oflife,calls social more and sphere, monetary the of reenchantment a disenchanted modernity have made. The possibility of a of theorists many thatpredictions the defies which this, contradicts however, paradoxically sphere, tary mone the of reality The rationality.instrumental of rule totalitarian the under fall to bound be would re sphe market the that warned have they particular, spheresstrumentalIn life. rationalityall socialinto of in of march unstoppable the of result a as undergo wouldsocieties modern disenchantmentthat minent contemporary–classicaland have im announcedthe –both theorists social of variety great a decades For opportunities and banking: central limits and Analytical Using2. Durkheim make to money of sense Section Section 2 I will discuss the possibility of apply I will conclude by reca concludeby will I 4 Section Section Section ------10/07/2008 16:13:15 innovar31.indb 95 in their particular theology, is attributed with nonessential properties (like that of being a means of exchange).” of ameans being of that (like properties nonessential with attributed is theology, particular their in money, whereby oftransubstantiation, on asort insists asscientists) (disguised priesthood thethat byfact the it is confirmed Indeed, level. at a subconscious operates in any culture, acceptance, such that by fact the affected is not an point as of this validity premises The of faith. basic act its of acceptance the demanding theory, is it as facts, provable from deductions logical necessary on depending sion of money. Again, Belk and Wallendorf (1990: 35) as far as shedding light over the latent religiouspushed dimen has literature this sphere,monetary the thin wi meaning of recoverymere the with contentNot ces, and strivings.” ofsuch carriers strong anddiverse feelings, significan only food and sex are its close competitors as common life; contemporary in object meaningful emotionally most the probably is “money that (1986: 3) Krueger onmoney, Belkand Wallendorf (1990: 46) agree with money.with Following psychoanalyticthe perspective the way affect, norms and values mediate the dealings andmoney” of emotional,qualitativemoremeanings tedout thateconomicthe viewmoneyon “the misses and Wallendorf (1990: 35-36), for example, have poin nizing the monetary sphere as a reenchanted one. Belk the reality of money as one of meaning, thereby recog recoverpologicaloutsetscholarshiptomoney has on anthro and sociologicalmoney,recent of sentations repre stereotyped suchbeyond move to effort an In Aristotle to Marx, Weber, and Simmel.” from accounts influential in needle...)embodied the (thetion cameltheevil, through eyerootthe all of of transforma monetary of theories folk Western from Maurerput–towith it analysis(2006: the 19)– “away however, a new body of literature has tended to redirect modernmoney. theIn course of the past two decades, stressedactivelyoramoral thehas aspectsof immoral ofthenineteenth andtwentieth centurysocialtheory interchangeability.indefinite itsgenerally, More most money,its complete liquidity well and as divisibility as mel and his followers have stressed the homogeneity of 346).1989:Sim (Zelizer “unmeaning” of one as lity rea haveitsstressedobjectifier”“theultimate and as purely haveis instrumental. regardedMarxists money indifferent to non-pecuniary values and that its nature haveUtilitarians traditionally suggested that money is ey and banking. macro-cultural approach on has the sociology of mon neo-Durkheimiana thatimplications the to pointing concludeby then will interpretativeI framework.ter bet a providestradition neo-Durkheimian the while adequateinterpretit, to partially only is Life Religious of Durkheim culturalist the suggestthatthen will sphere.monetaryI the mentof introducingbriefly the phenomenon of the reenchant by start will I section this phenomenon.suchpretIn 3 More recently, Crump (1992: 674) has echoed Desmonde’s remark by pointing out that “monetary theory is not so much science, science, much so not is theory “monetary that out pointing by remark Desmonde’s echoed (1992: 674) has Crump recently, More The Elementary Forms of Forms Elementary The ------suggested that seems consistent with Desmonde (1962: 3-5) where he acquisitionmoney.ofuse and readingTheirmoneyof involvedthe are in that ritual andmystery myth, the are made for money, in its contaminating character, in that sacrifices the profane,in the toopposition its in authorsThe evidence find sacrednessofthe ofmoney 1915).” (Durkheim sacred considered parlance, gical treatedhighestthe respect.with socioloMoney in is, and worshipped, feared, revered, is Money meaning. oneoftenthatvenerates as moneyimbues withit and characterized been add–“has 36) (1990:Wallendorf and society”–Belk consumer “Contemporary cesses. pro ritual by societies modern within even gulated, re is profane the and sacred the between boundary credmeanings” andthat thecrossing bymoney ofthe “contemporarysa remarkedhavethatmoneyretains as as he suggested that the internal patterning of religious chanceforreenchantmentthe life moderncognize in systematicallyframeworkreto provideda Durkheim out, pointed have (2005) Alexander and Smith As operation analytically legitimate. is whethersuch as question the begs society.This dern sacredofsensemakeDurkheim to momoney within Wallendorfto(1990) and resort Belk Bourdieu, Like either for or bad purposes. good power,money charm, brings a magical whichbe used can and worn-down soiled pieces coins of green paper. ... Like these of presence the by charm magical a under placed if as bidding, our do to hasten money,people have we if Whereverconceivablego,weeverydesire. almost of tion gratifica the us to bringing talisman, miraculous a like much life everyday in function to seems money fi nance, high of rites esoteric the from Apart ... control. our at mercy are the ofmysterious children our forces beyond of happiness the and lives our that way fearful mewhat so vague, a in feeling proceedings, solemn the wonder in watchholy,we the of presence the in savages llbound spe like ... financiers and lawyers, accountants, brokers, way,cal understood and controllable only by the of magic mysti incomprehensible, an in operate to seems symbol the reality, of plane higher a in if As ritual. tribal a in cy poten vefeels magical toward sacred the relics providing primiti reverence the same awe as muchthe and of with handled us by regarded and symbol finance, high of priests a the by mainly mystery, a is money us, of many to 3 ar va o n n i revista journal ------10/07/2008 16:13:16 ------

95 innovar economía y desarrollo innovar31.indb 96 96 INNOVAR economía y desarrollo cifists, revolutionary cifists, trade-unionists, farmers, enemies salvationthe of vokednamecivilization. theof Pa- in reconstitutingnationala body. unitedA frontin-was ofcapable was Germany by war declarationof the to response in France in emergedthat effervescence ve 312-313)(2005:collecti- the Tiryakian that observes Alexander (1988: 179-180) puts it, society.center ofAs symbolic actiontowards the cial so- of displacement a towards pressures of existence therefore signal the operation of such linkages and the spheressuchshouldinto narratives and codes,phors, meta-religiouspercolation of The sacralized. get and routine the above raise center,theysuch to linkages symbolic establish life social of spheres different the theinstitutions that establish relationships it. with As and societymembers of the for legitimacy ofsource a well as the ultimate structure of reality and constitutes as identity very their definescentersacred The core. works as their “ultimate and irreducible” transcendent that centersacred a have still societies modern that societies.modern(1975), in Following Shils acceptsit notsystemdisappearedcredsocial has processesfrom 1980s the and in 1990s flourished accepts that the sa- the in emergedthat traditionneo-Durkheimian The rescue intellectual his project. to came tradition neo-Durkheimian the where and however,failed is, society.DurkheimHerewhere ted (1988:177) reenchan-the generalofputs it–a theory societythattandsetsstageAlexander andthe for –as unders-metaphorto a as religion uses that sociology sociology of religion. Rather, he put forward a religious interaction.By doing so, he did not merely elaborate a understanding of political interaction in terms of ritual an to way pavedthe he profane.And the andsacred society intowithin agonicthe opposition between the both. He showed the transformation of value conflicts tion upon the power and compulsion that characterizes weenreligiousandsocial Hedrew atten-symbols. the well. as Durkheimshed lightover homologiesthe bet- societiesmodern in organizationpermeatessocial life rev. iNNovar. vol. 18, 31, No. eNero aJUNioDe2008 4 See Tiryakian (2005), Alexander (2006), and Cladis (2005). Cladis (2006), and (2005), Alexander Tiryakian See of “religious experience” mode independent an continue experience peak of riods never are completely shut pe-the life, out of routinized by walls the experiences these While meaning. cendent trans- re-experiencing and experiencing directly of sodes life…Values social created are renewed and epi- through of interstices the in remains –always reality transcendent or religious as experienced is that level cultural purely The terror and awe of and simplified general –the symbols a reinvigorated national solidarity.reinvigoratednational a rejoinedeconomic andin dividesracial,cultural, and 9/11 when the USA managed to overcome all political, mething very also similar occurred in the aftermath of newlyreconstitutedunderthe solidarity.nationalSo- togethercome to managed priests and regime, the of social life. Finally, in modern societies social integra- socialsocieties modern in Finally,life. social routinearereflexivitytion, andconditions modern in competi- conflict, thatneglects emerge symbols cred sa- way the of perception His sphere.profane the of attention for the sacred neglects the cultural thickness univocal His life. modern situationsofroutine the in cence misses the possibility of cultural communication perience in modern societies. His emphasis on efferves- society is exaggeratedly undifferentiated to fit of social Durkheim’sviewex- acknowledgedthat also has tion modernsocieties,cred in neo-Durkheimian the tradi- sa-presencethecontinuing of the recognizing While 383) remarks, have eyes to the it. see or occasion solidarity. Evidently, it was there all along. We social just did like not something possess indeed do we that means, terrible by reminded, were we groups, disconnected or individuals disparate of nation a in live we to that believe tempted most were intellectuals, US we, when just 4 As Cladis (2005: Cladis As 10/07/2008 16:13:17 innovar31.indb 97 stage, to the audiences, to the means of symbolic production, to the social power, and to the the to power, and social the to production, symbolic of means the to audiences, the to stage, And yet, modern societies are still permeated by the by permeated still are societiesmodern yet, And beyondritual. societiesstand modern that recognizes automatic accomplishment. In other words, Alexander an not interactionare an of validity contentand the as well as other the of intentions The performance. in participate necessarily not do Audiencesroutine. theirdepartfrom performanceroles can uptake than in Actors immediacy. with experienced not are liefs Alexander societies. societiesmodernbe- in (2006)clearlyoutthat such points in shared and created is these new dramatic conditions under which meanings the reenchantment within it, must come to terms with foraccount to seeks that societymodern of sociology religiousthem.A unfold within life social of forms lic ceare the routine conditions under which the symbo- societiesto the extent to which andcontrivan- drama traditional from depart they But processes. ritual to purity. And they construct restore their solidarity toby resorting and pollution avoid to move do They de. divi-profane and sacred the themselvesalong ganize “notenough much.”too and Modernsocieties or- still is societies modern and traditional between mology remark, drawing from Durkheim a straightforward ho- (2005:Alexander26) and Smith adequate. notAs is analysis Durkheimian straightforward a life, modern explain to words,other believe.In us havewould im Durkhe- automatic as as nor broad as neither is tion 5 Alexander refers in particular to collective representations–either as background symbols or as foreground scripts, to the actors on on actors the to scripts, foreground as or symbols background as representations–either collective to particular in refers Alexander lly project meaning upon the audiences. der(2006) puts it–and wayuponthethey authentica- ofperformancea come together–or refuse, Alexan- as elementsthe way the upondepends that state fragile more much a is societies modern in reenchantment societies,traditional to Compared life. social of sions 12) refer as the vital, primordial and existential dimen- therand experience what Alexander and Mast (2006: toge-come can individualswhere and suspendedget clude spacesliminal where the rules of social structure sacred,though more in contingent ways. They in- still acquire a social or sacredor socialacquire charactera ri-usedwhen is it uglas(1967), for example, noticed has that money can primitivesocieties. within rankedDo- ritually or rally phenomenon and have documented how money is mo- thropologistshave traditionally takenstock such with an- that observes Zelizer medium.nonmarket a into turn can marketand outsidethe exist Money can re. structu- social and culture by influenced are money of quantity the and meaning the uses, the Zelizer to According morals. and marketbetweenrelations the constitutes the culmination of a decade of research on money of meaning social the on worklatestZelizer’s 1996, 2000). money as andeconomic (Zelizerlife 1979, 1985, 1994, well 2000), as Schwartz2001;2004; Eyerman Giesen tive memory (Alexander et al. 2004; Connerton 1989; sen1998; 1997), Spillman cultural traumacollec-and Gie- 1988; (Tiryakian legitimacy democratic1999), Ku 1999; Chan 1988; (Edles transitions democratic Wildawski1982),and Douglas1996b, Smith and der (Alexan- environmentalism and technology 1997), Rappoport 1996, (Jacobs ethnicity and race 1996), Smith 1990; (Garland punishment 1998), and law Ingle criminal and (Marvin symbols national 2005), violence(Wagner-Pacificiand war 1991,1986;Smith multipleonfreshinsights spheressuch life socialas of Durkheimian tradition has generated a broad range of As Smith and Alexander (2005: 14) point out, the neo- mation ofmodern monetary within societies. affairs framework analytical addressto religious the transfor- suitable more a provides him on built that tradition thereforeneo-Durkheimianand societywhythe dern is only partially adequate to interpret the reality of mo- the Durkheim of mian reading of it. In this section I have explained why suchphenomenona implicitlyby invoking Durkhei- toa reacted Bourdieu Pierre that and transformation religious a undergooccasionally can affairs monetary suggestedthat have I paper this of beginning the At The The Elementary Forms of Religious Life mise-en-scène . ar va o n n i revista 5 journal 10/07/2008 16:13:18

97 INNOVAR economía y desarrollo innovar31.indb 98 98 innovar economía y desarrollo See Helleiner (2006). Helleiner See person.” average the to national reassuring out ... to something coin says our on head Queen’s organic is]The [it feel consciousness. our to people level, arteries and gut a at identity–veins because, unpopular deeply is ... currency the with by about replaced be “Messing pound euro: the that the possibility the sentimen over a observer Such value”. English an of comment the in sentimental its reference implicit the depreciated seem it would value tal value… while monetary [money’s]that return depreciate in not did emphasized motto] [the opponents of their but removal “the transactions”, sacred, not and secular, of medium a is coin… “our that decision claimed Roosevelt’s President supported that Congressmen the removed, had order a Presidential that coins gold States United from (2005: 373-4). Gilbert in See nation.” the of symbols great the all of arrangement concentrated this in layout, the of symmetry in solemn is this There rigorous something laden with all the of insignia the officialdom. state’s ceremoniously is nonetheless foreigncurrencybetween or pa cash creditand cards currencies with special betweensucha national andas the exchange of spheres distinct the explored has (1981),Crumpstatus. amend to part, or his tually on rev. i ul atavism.” dual “resi of example an as use ritual its dismissed have and reality social a not were it if as moneyregarded (1979: llins 190) put has it,sociologists have generally money significance magical take. can yet,And Co as mic social basis of money and the symbolic sacred and extra-econo the (1934) stressed Simiand profession sociological the money.Within of fungibility of idea the challengedhavepsychologists Economic yments. 8 7 6 consolidationproductionthe national ofspacein and cadesthattherecognizedrole has played bymoney in de two past developedthe recentliterature has in A into national symbols. the sacralization of national currencies once they turn explain to frameworksuitable particularly a provides it contrary, the money. On of study macro-culturalthe to approach a preclude all at not does however, perspective, neo-Durkheimian The approach. tural micro-cul as money of sociology the of review in their classified have (1992) Jimerson and Baker what constitutes money of study the to approachZelizer’s gender and social class. wellstructure,socialby as particularfamily, by in and ted by the cultural understanding of family relations as media was 1930 and 1870 betweenwomen’s money married of use the that showed has money of aning children’sZelizer’sburial. later meworksocial the on proper allow would that money pious into figuration trans its of virtue by institutionalized got insurance Similarly,children’sdeath. life his after family his for father wouldcaring thattheorder makein provideto gesturelove last the into transformation ritual its to thanks institutionalized got insurance life particular, projectand itoutside purelya instrumentalsphere. In ture can help transform the reality of insurance money documentedstruc has social culturehowZelizerand US, the in children’sinsurance of and insurance life Zelizer (1999: 85), for example, observes that during the debate in 1908 over the proposal to restore the inscription ‘In God we Trust’ the inscription (1999: in Zelizer the to debate that 1908 during restore over the proposal 85), observes for example, of made paper,(1999: Goux to though US the that, dollar 116)is “it monument that a civil reference with has remarked example, For (1989: Zelizer in 345). Simmel Georg See nn ovar. 6 Since her earlier work on the rise of rise the on work earlier her Since V ol. 18, 31, No. E N ERO

A JUN IO D E 2008 ------a result of such transformation.suchresultof a as them to attached is that charge emotional highly rrencies into national symbols cuand has emphasized national the of transformation the stressed has ture the periphery. reference center at the in both and any other to case, man case. The same, however, could be repeated this Ger with section paradigmatic the study next to framework the analytical in apply will I clarity of sake center. the Forsuch symbolic to banking central and money of displacement the enables or restricts affairs monetary of establishing macro-embeddedness in cultural the and how society of center symbolic the identifying in interested be will banking central and money of study the approachto macro-cultural mian oftity society aresult, As codified. is aneo-Durkhei centerofitssociety ofreference where verytheiden sphere–to monetary the symbolic the is, life–that cial of the currency from a rather peripheral sphere of so zation as a consequence of displacement the symbolic sacraliitswell as as currencynational symbol intoa interprets the of affairs transformation tary a national mone of study macro-culturalneo-Durkheimian A to guide its analysis. gone as far as adopting a neo-Durkheimian framework identity. Then, I will show how the cultural macroe cultural the howshow will I identity.Then, overnationalgame a into turns centerand the to fts shi game monetary the once transformed gets king moneycentralban andGerman of meaning howthe showing by and society, German of center symbolic will start by discussing some crucial neo-components of the a I affairs. out monetary German carry of analysis to Durkheimian is section this of purpose The affairs monetary Aneo�Durkheimian3. analysis German of otr 99 Zlzr 1999). Zelizer 1999;Foster 1997,1998;Pointon1999;1994, Hewitt Helleiner1999, 2002; 1998, 1999; Helleiner and Gilbert 2005; 1999,(Gilbert it within citizens reproductionof and 7 cainly ti litera this Occasionally, 8 That said, it has not has it said, That ------10/07/2008 16:13:18 innovar31.indb 99 World War II. submissiveness cal into which it hadbeen boxed since Republic,therebystatepolitithe offrom it liberating Federalthe sovereignty for full reclaimingpretext for the conscience of the average German citizen and as a medium to expunge the a as both 1960s 1950sand the experiencedin public appealed to the economic miracle that the Federal Re has It class. middle German throughoutthe ticularly of nationalof identity inheritedpatriot ofhas formsthe constructed constructed been has identity national this it, put has 146-47) ofits socio-economic performance. Giesen As (1998: ground the on itself distinguishes that communityor a community cultural and linguistic a fate, of nity been predicated upon belonging not to a historic commu has identity Holocaust The identity. so-called Holocaust the is Republic Federal the of history the during society German of definition the contended has self-understandingthat of form alternative The economic-nationalist based self-understanding. an to them channeled has and identitycollective of havethat ism traditionallycharacterized earlier forms ac iprtvs ahr hn f ainl virtues. national of than rather imperatives dance intention into immorality. It became clearer and clearer that such terms were essentially being used in order to produce a political political a produce to order in used (1991). Habermas power.”being in to See claims essentially further to were intended moral terms a submissiveness such that transformed clearer terms” and to “coming clearer of became kind It that on immorality. into insistence intention The … repression. and obduracy for cause supposed constitutive the as mourn” to spiritually “inability an of assertion shabby the especially And used. be to not ought … “repression” the Even cudgel past. the semantic with terms” to “coming of speak to not ought we time “This point: this captures effectively unification German the of self-understanding of German society, the to over prime started has identity Holocaust the 1980s, the of Variouscourse theintellectuals in havethat,claimed sion and pride onto the constitution.pas channels that patriotism of form civic a of cise exer the second, And regime. Nazi the of horrors the with particularly and past, German the with to terms coming at citizen the of part the on effort explicit an First, particular. in practices, civic two upon pended nationalism whereby the criterion of inclusion has decivic of form open an professed has itFurthermore, called so- one–the first Republic.FederalThe the centerof symbolic thecontended have society German the of self-understandingsdifferentWorldtwo SinceWar II enables such transformations. or restricts affairs monetary German mbeddednessof 12 11 10 9 gressively marginalizing the latter from the symbolic the from latter the marginalizing gressively The following passage drawn from a lead article in the the in article lead a from drawn passage following The See Honolka (1987) and Lepsius (1989). (1987) Lepsius and Honolka See For a broader treatment of these two identities, see Giesen (1998: 145-163). Giesen see identities, two these of treatment abroader For Wehler, H.U. “Wider die falschen Apostel,” Apostel,” falschen die Wehler, H.U. “Wider Wirtschaftswunder x negativo ex 9 As Habermas has pointed out, this type Wirtschaftswunder in terms of collective avoi Angst dniyhs ifsd par diffused identity–has for the recent past from identity as a mode a as identity 46 (9 November 1990), p. 12. See in Schulze (1992: 1990), Schulze in 16). (9 p. 12. 46 See November Zeit Die 11 thereby pro that appeared at the time of the debate over over debate the of time the at appeared that Zeitung Allgemeine Frankfurter 10 ------

did never quite make it to displace the the population.” In other words, in the Holocaustroots deeperidentity without device technical rather less, cult for the constitution, which the has “remained with a traditions blood national the replacing in ceeded fellow his constitutional patriots have never quite suc and Habermas that remarked has example, 7-8), for caught off base by such events, though. Schulze (1992:been have analysts all Not nationalism. of kind new a suchbefore unprotected”consciousness republican tion of the DMark into “an object of libido that has left chubby-faced DM-nationalism” and to the transforma of flowering “first a to way pavedthe has unification monetary German-German the(1991: it,put has 84) Habermas As expectation.suchcontradicted howev has er, unification, German of process subsequent the Walland Berlin the of fall society.The centerof emergence of a new form of aggressive nationalism.aggressive of form new a emergenceof tionalmythologies that could open up the door to the publicthesphere old na within of entry stage forthe the set could unification German of process the ing dur nationalism of awakening the that concern his voiced has example,Wehler, for Ulrich Hans torian his German The it. inherentin risks denouncedthe Intellectualsunification.have German of process the wunder latentexistencethea aggressivetoof spin the is, This ways. different in though reacted, have politicians and intellectuals both which against and reminded, have to seems unification German of ess however,is,There elementfurtherproc onethe that German-German unification was there to remind it. der lid overlid aggressivethethe to spin ess of German unification that inadvertently pried the and particularly those who have championed the proc interests. forceGerman Politicians,throughto means idea that German marks have replaced the Stukas as a (1991:Habermas 85), played has part, the with his on a spin, the D-Mark.Commissioner,Europeanthe spin,Martin a etary unification one of the generative symbols of such monEuropean of process the through killing by was gaining momentum. The main strategy to achieve this identity, have also been adamant at preventing it from identity from the center of German society and the identity that has loomed on the background of ar va o n n i revista Wirtschaftwswunder Wirtschaftswun Wirtschaft journal 10/07/2008 16:13:18 12 ------

99 innovar economía y desarrollo innovar31.indb 100 100 innovar economía y desarrollo could use to overcome the repertoire of discursive resources that German citizens a provided and existential was One dimensions. of two consisted has and identity national of pillar a lic FederalRepubstitutedthe of throughout history the ikd o h smoi cne o Gra society, German of the centerwhere symbolic got the affairs to monetary linked German the that Suggesting orientationscal have pre-emptively reacted. whichvariousobservers German differentfrom politi against spin virulent, morelatent,though includeda sovereignty. full reclaimitslatter dimension also This videdseta of justifications for the Federal Republic to pro and political wasother The recentpast.their by dictatorship, the experience of World War II, the deWorlddictatorship,theexperienceof WarII,the Nazi the establishmentof the and Hitler ofpower to subsequentrise the Republic,Weimar the upon had chaos early monetary that the effects destabilizing in the 1920s, hyperinflation the of experience The and of the Deutsche Bundesbank. surface in the collective representations of the D-Mark orr ta wr prertd n h concentration the in perpetrated were that horrors the and it, with came that humiliation and struction the existentialreflectthatthe political anddimensions of layers new two added has process This meaning. in transformationlatent a undergonehave Bundesbank Deutschethe andD-Mark the thattablished,implies return and to overcome the new evils.” to take up again and again the task of preventing their nitelybanned from Europe: it updefi is to each generation been not have past the of spirits evil “the that Senate French the before argued part, his on Kohl, for the Treaty would avert “the danger of German ‘de French referendum the on Maastricht of that eve a favorable the on vote warned example, for Bangemann, rev. i etd n etme 20.” September on jected re TreatyMaastricht is the if unleashedbeing mons’ 17 16 15 14 13 22 21 20 19 18 und internationaler Verantwortung”. Speech delivered by the President of the Deutsche Bundesbank, Generalversammlung der Gör der 20/ 05/1999, p. 4. Dresden, Generalversammlung Bundesbank, res-Gesellschaft, Deutsche the of President the by delivered Speech Verantwortung”. europäischer in internationaler und “Währungspolitik Hans. 12-13; pp. 1995,Tietmeyer, 09/ 24/ Main, am Frankfurt Evening, Banking International furt In conclusion, the “Allemagne: des coups de canon contre l’ Europe”. Europe”. l’ contre canon de coups des “Allemagne: Ibid. Fleischhauer, Jan. “Der Erzbischof aus Frankfurt.” Frankfurt.” aus Erzbischof “Der Jan. Fleischhauer, Bonfante, Jordan. “A German Requiem.” Requiem.” “A German Jordan. Bonfante, See Marsh (1992: Marsh 20). See Tietmeyer, Strass, Susanne Nicolette. “Abschied vom einem stark Stück Deutschland.” Deutschland.” Stück stark einem vom “Abschied Nicolette. Susanne Strass, Barber, Lionel. “Bangemann accuses French of anti-German sentiment.” sentiment.” anti-German of French accuses “Bangemann Lionel. Barber, Bonfante, Jordan. “A German Requiem.” Requiem.” “A German Jordan. Bonfante, Medek Goldkern and Stefano Vastano. “Elegia per un Marco.” Marco.” un per “Elegia Vastano. Stefano and Goldkern Medek Wirtschaftswunder nn ovar.

Hans. “The euro: An ongoing challenge and task.” Speech delivered by the President of the Deutsche Bundesbank, Frank Bundesbank, of the Deutsche by the President delivered and Speech task.” challenge euro: An “The ongoing Hans. Wirtschaftswunder V ol. 18, 31, No. Wirtschaftswunder identity and that haveidentitythattocome and 13 Angst n Caclo Helmut Chancellor And dniy a frl es firmly was identity E N produced upon them ERO Time Magazine Time Time Magazine Time identity has con

A 14 JUN

1997, Spiegel Nr.Der 23. IO Le Figaro Le D , 06/ 07/, 06/ 1998, p. 21. , 06/ 07/, 06/ 1998, p. 21. E 2008 , 02/10/ 1995. ------L’ Espresso once put in his his in put once from JosephSchumpeter as exits turns, economicand realm the system monetary The Bundesbank. the newlayers of meanings are laid upon the D-Mark and camps get to constitute the background against which a ypo o al t states.” its all of symptom “a into and is”suffers, does,“wants, people a that thing quired for the average citizen: German ac D-Mark the that meaning existential special the Deutschethe Bundesbank, uponIssing, insists Otmar of Economist Chief formerD-Mark, the of niversary iia, cnmc n mrl un o te war”, the of ruins moral and economic litical, ticular, became “ became ticular, hc Gras ol b pod of, proud be could Germans which s n o te bsc ua rights,” human “basic the of one as referred Erhard Ludwig which to stability, monetary short,In not D-Markthe onlydid Germans thegrant WorldWar II.” of ashes the from rise Phoenix German “the helped vauntsD-Mark.”the Germany chips. electronic of manufacture the in or landscapes,ofprowess political sport,in leadership,in their of glorymemories empires,thepast live ofof off “othermay nationsit,put once Marsh, David Times, of the Nazi regime,Nazi the of atrocities the after self-esteem their back them gave dictatorship and after the tragedy of the war. of the tragedy the dictatorship after and nazi of years after men, free ourselves feelmove, to able we have stable,toa been convertible finally D-Markthat thanks is It liberty. element our of fundamental a tituted thereforeconvertible cons currency a of experience The everywhere. welcome was D-Mark, the currency, Their abroad. holidays on go to started Germans war, the after soon, Very … reconstruction. the of symbol the became therefore currency The themselves. of conscience new a covery, the so-called economic miracle, gave the Germans re economic Only conscience. state national developa could democratic new a of establishment the even not And vacuum. emotional an almost created had Nazism , 26/ 037 105-107. 1998, pp. Financial Times Financial Frankfurter Neue Press Neue Frankfurter 20 As European Editor of the Financial the EuropeanEditorof As 17) it every (1970), into Money of Nature the , 03/ 09/ 1992. 18 national symbol”, national that rescued them “from the po rescuedthethat them“from 21 In an interview an In for 50the , 20/ 06/ 1998. , 20/ 06/ 15 h DMr, n par in D-Mark, The 17 oehn that something 23 16 n nt only not and the only one only the 22 19 th and an ------10/07/2008 16:13:19 innovar31.indb 101 ernment. gov- the before Parliament, the before Constitution, the before D-Mark,” the was there principle “In II: Worldof aftermathWar the emergedorder thatin ic the foundingas nized stone of the new socio-econom- came.” beforethatnationalthe anthem nationaltheand flag point in an ocean of flux and change.”and flux of ocean an in point Bank Deutscher Länder, forerunner of the Bundesbank. See in Bähring, Bernd. “Das Panorama deutscher Währungspolitik.” Währungspolitik.” deutscher Panorama Zeitung “Das Bernd. Bähring, in See Bundesbank. the of forerunner Länder, Deutscher Bank und Informationsamt der Bundesregierung Nr. 49, p. 629-30. Bundesregierung der Informationsamt und world.” the endowmentGermans to their children, and to the peace in the main streets and goodwill in the factories:of catalogues,mail-order the in abundance glossy of sun, the holidays in “theofguarantor into turn it did 34 33 32 31 26 25 24 23 Mark.” Speech by the Federal Chancellor. Presse-und Informationsamt der Bundesregierung, 07/ 07/ Nr. 1998. 49, p. 632. Bundesregierung, der Informationsamt Presse-und Chancellor. Federal the by Speech Mark.” 30 29 28 27 bothfor those included who could enjoy it and for the ment.attributeItinto an almost turned citizenship of embodi-its it,putFrenchscientist oncepolitical a as eral Republic,the D-Mark become has its mirror, the President of the Deutsche Bundesbank, Ceremony of the Landeszentralbank Berlin-Brandenburg in occasion of the 50 the of occasion in Berlin-Brandenburg Landeszentralbank the of Ceremony Bundesbank, Deutsche the of President the of the Berliner Zentralbank, Berlin, 20/ 03/ 1999. Berlin, Zentralbank, Berliner the of Day not on the 3 the notonDay Memorial National their celebrate should “Germans ity anchordouble ity in sense.” introduced. day of the monetary reform when the D-Mark was first Frankfurter Rundschau Frankfurter D-Mark-Bürger.” “Brave See Marsh (1992: Marsh 20). See See Marsh (1992: Marsh 21). See Die Welt Die D-Mark.” der von “Abschied Weimer, Wolfram. Le Billon, Véronique and Moatti, Gérard. “Les Allemands veulent-ils vraiment de l’euro?” l’euro?” de vraiment veulent-ils Allemands “Les Gérard. Moatti, and Véronique Billon, Le Tietmeyer, Hans. “50 Jahre Deutsche Mark”. Speech delivered by the President of the Deutsche Bundesbank, 07/ 07/ Bundesbank, 1998. Presse- Deutsche the of President by the delivered Speech Mark”. Deutsche Jahre “50 Hans. Tietmeyer, “Die DM hat den Deutschen ein Stück Identität gegeben.” gegeben.” Identität Stück ein Deutschen den hat DM “Die “Der Anfang von Wirtschaftswunder.“ Wirtschaftswunder.“ von Anfang “Der “Der Anfang von Wirtschaftswunder.” Wirtschaftswunder.” von Anfang “Der See Marsh (1992: Marsh 22). See Tietmeyer, Hans. “50 Jahre Deutsche Mark in Berlin–50 Jahre Landeszentralbank in Berlin und Brandenburg.” Speech delivered by by delivered Speech Brandenburg.” und Berlin in Landeszentralbank Jahre Berlin–50 in Mark Deutsche Jahre “50 Hans. Tietmeyer, The idea of a providential phrophet crosses the following passage addressing the profi le of Wilhelm Vocke, fi rst President of the of President Vocke, profirst Wilhelm fi the of le addressing passage following the crosses phrophet providential a of idea The , 10/ 1988. 06/ 25 24 It became “the ferment of the nation, a stabil- It also gave them “a piece of identity, evenidentity, of piece “a them gave also It 28 Some have gone as far as suggesting that suggesting as far as gone have Some 29 Since theof beginning the German Fed- rd October20 the but on 26 Itestablished “one fixed Stern Stern 1998, Nr. 2, p. 26. 1998, Nr. 2, 26-27. pp. 27 It was recog-Itwas , 03/ 07/ 1990. th June,” the , 30/ 12/ 1998. 12/ , 30/ 30 or, Süddeutsche Zeitung Süddeutsche in its smoother and in its more virulent versions. In versions. virulent more its in and smoother its in excluded who would aspire to enjoy it enjoy to aspire wouldexcluded who measure themselves and will become absolute.” absoluteof way a hand their haveat They that. from rity at the summit of stabilizing offices–and fully profit exerciseautho-their fully character andcan strength Bundesbank: “Always after hard catastrophes men with Laender,Deutscheforerunnertheinstitutional ofthe the profile of the first President of the Bank Deutscher addresseshe as terms this in explicitlyreflects affairs itbecameabsolute. observermonetary An German of functionlatentexistentialof an device. resulta theas And ofit, up took it history its of course the in but institutioneconomic an as founded was Bundesbank Angst the to solutioninstitutional an into transformed got valuetial for the person thein street, the Bundesbank theD-Mark acquired Germany profounda in existen- order”1999:stablepolitical(Loedel3).andcratic As demo- the of also butcurrency the of only not tions founda- and stability soundedness,“the of guarantor the and custodian its the became BundesbankDeutsche symbol, national a into turned D-Mark the As the D-Mark.” to come will wecome,not D-Markdoes the “Ifpeat: re- to used who Germans Eastern among even gious conta- be to appeared D-Mark the towards attitude cal dimension of the of dimension cal politi-appliesthe to also linkage symbolic time,same tial tial dimension of the existen-theto monetaryanchoring affairs German of ongoing the reflect meaning in transformationsSuch almostphysical.” becamecurrency their to West theGermans mentof that pastthe produced German still her. in The , 22/ 06/ 1998; Kohl, Helmut. “50 Jahre Deutsche Deutsche Jahre “50 Helmut. Kohl, 1998; 06/ 22/ , 33 32 Andwhen the Berlin Wall fell, this L’Expansion Wirtschaftwunder Wirtschaftswunder , 21/12/1996. ar va o n n i revista identity. At the 31 identity, both . The attach- The . th journal Birthday Birthday 34 Börsen-

10/07/2008 16:13:20

101 INNOVAR economía y desarrollo innovar31.indb 102 102 innovar economía y desarrollo ded. unfol has DeutscheBundesbankthe of and D-Mark the of history whichcontextthe historical thewithin domesticaudiences have never tapped into, at least in available,thoughresourcethat, symbolic a identityis Abhängigkeiten und offene Konflikte,” Speech delivered by the President of the Deutsche Bundesbank, 44 Bundesbank, Deutsche the of President the by delivered Speech Konflikte,” offene und Abhängigkeiten Spech delivered by the President of the Deutsche Bundesbank, 44th Credit Policy Meeting of the Zeitschrift für das gesamte Kredit gesamte das für Zeitschrift the of 06/11/1998, Main, am p. 1. Meeting Frankfurt Policy wesen, Credit 44th Bundesbank, Deutsche the of President the by delivered Spech 41 40 39 38 37 36 42 Linkage to the virulent spin of the of spin virulent the to Linkage ins the into turns Bundesbank the case, former the rev. i ce World War II, WorldWar ce sin embeddedbeen hadRepublic Federal the which breaking free from the regime of semi-sovereignty into vereignty, at least within the monetary sphere, thereby so exercisefull toenabledits Germanythattrument 35 43 über Möglichkeiten und Gefahren einer deutsch-deutschen Wirtschafts- und Währungsunion.” Sendung “Frankfurter Gespraech” des des 30 the of Gespraech” 19/ celebrations 03/the of Wehnelt, 1990, pp. 1-2. (HR 1),“Frankfurter In occasion Christoph Rundfunks Sendung Hessischen Währungsunion.” und Wirtschafts- deutsch-deutschen einer Gefahren Scheid und dr.Rudolf Prof. und MdD,Möglichkeiten über Tietmeyer, Dr.Hans mit “Diskussion possible…” been never have outside from attacks which within field … is the Bundesbank of the policy “Mr. adds: ... monetary Tietmeyer, the interviewer the period, post-war in the Republic Federal of the sovereignty diminished the to pointing After respect. in that belief shared a widely question his through reveals interviewer the economic conjuncture, the unification and the success in tennis and soccer–this is really too much.” See “Diese verdammten Deut verdammten “Diese publication. the to See much.” reference any too contain not really does is Pressearchiv soccer–this and Bundesbank 17/07/1990. the schen”, in tennis document in The success the and unification the conjuncture, economic sound The Germans. the bash to fashionable again become has it “In England citizens: fellow his of many of sympathy the draw bably D-Mark Otmar Emminger proudly stressed the resistance of the Bundesbank against all internal and external pressures upon the D- Wasser.” the kalte ins upon Sprung mit begann pressures external and “‘Wirtschaftswunder’ internal all Mark. against Bundesbank the of resistance the stressed proudly Emminger Otmar D-Mark the the could not beseized. D-Mark” the “citadelof the Bundesbank the of rule re-presentingD-Markthe Bundesbanktheand accor refrainedsuchfromusing resource and therefore from pose of a new quest for world power and hegemony.and power world for quest new a of pose pur the for disposal its at has Germany thatweapon a intoresult, turned dingly.Bundesbanka the has As netrate. pe to impossible “Bundesbunker,” just formidable a Times observers.foreignThe among popular quite was there to remind that. interpretationThis has been Kreditwesens “always be the nice boys.” Conference,notcouldBrussels the at putitGermans sist foreign pressures and say no. As Willy Brandt once re powerto the regainwould Germans Bundesbank, the Through state.impotent” but “fat a as Republic Federal the see to Churchill Winston led once had In this speech, Hans Tietmeyer quotes Volkmar Muthesius in the editorial article of the first issue of the ofthe issue of first the article in editorial the Muthesius Volkmar quotes Tietmeyer Hans In speech, this Mannheimer Morgen Mannheimer Moral.” “Laxe K. Hans Herdt, See in Tietmeyer, Hans. “Währung, Banken und Gesellschaft. Erfüllte Erwartungen, spürbare Abhängigkeiten und offene Konflikte,” Konflikte,” offene und Abhängigkeiten spürbare Erwartungen, Erfüllte Gesellschaft. und Banken “Währung, Hans. Tietmeyer, in See “In the Bundesbunker.” Bundesbunker.” “In the In an interview to Hans Tietmeyer and Rudolf Scheid on the opportunities and dangers of the German economic and monetary union, and monetary of economic and the dangers German on the and Scheid opportunities In to Rudolf Hans Tietmeyer an interview The reaction that a German journalist once voiced to such interpretations, particularly on the part of British observers, would pro would observers, British of part the on particularly interpretations, such to voiced once journalist German a that reaction The “Kampf gegen die Dollar-Invasion.” Dollar-Invasion.” die gegen “Kampf Kunstlé, Marc. Kunstlé, See in McCarthie, Andrew. “The pride and potency of the Bundesbank.” The The Bundesbank.” the of potency and pride “The Andrew. McCarthie, in See Zeitschrift für das gesamte Kreditwesen gesamte das für Zeitschrift 39 nn Foreign observers, on the other hand, haveForeignotherhand,observers,notthe on , for, example, referred has to the Bundesbank as 37 ovar. And

titled titled

“Son Étage secret, il reigne sur l’ Europe”. l’ sur reigne il secret, Étage “Son has remarkedunderFigarothe that has Le V ol. 18, 31, No. Moral des Geldes des Moral 35 that very same arrangement that arrangement same very that 38 Financial Times Financial 36 The Bundesbank, in a way, E . See in Tietmeyer, Hans. “Währung, Banken und Gesellschaft. Erfüllte Erwartungen, spürbare spürbare Erwartungen, Erfüllte Gesellschaft. und Banken “Währung, Hans. Tietmeyer, in See . N Der Spiegel Der ERO , 17/07/1992, p. 18. Wirtschaftswunder , Frankfurt am Main, 06/11/1998, Main, am p. 1. , Frankfurt

A JUN , 10/05/1971. , 22/09/1966. IO Financial Financial D E 2008

Le Figaro Magazine Figaro Le ------

General-Anzeiger social body.”social individualsthethe moreto offusion theintimate the money,thebetter society. cohesionThe of the looser “the Tietmeyer, Hans says money,” the worse life: “The social of fabric moral very the into deep reach open to this interpretation when he remarks in his his book on the central German that bank in remarks he when interpretation this to open David Marsh, for example, maliciously leaves the door cile with simplehonesty.”with cile recon to hard is conditions This values.constant of terms in kept be not will they that wellperfectly ing know contracts makes Everybody truth. the speaks country,wherenobodya like is “inflation putitonce BundesbankPresident, Tietmeyer Hans (1992: 20-21), will take up, as a result, a moral connotation. As former moralization latent of the German monetary a arena. Inflation triggers society German of center symbolic reconstitutionThe atthe monetary German ofaffairs betfcto ad itnin f ua relations.” human of distention and objectification of coexistence, smoother of integration, social of ity of lax morals. lax of nomic policy that is not geared to stability is indicative agr ra f uoe hn n Gra Rih n his tory. in Reich German any than Europe of area larger a across sway holds Bundesbank the recovery,post-war Germany’s of symbol the became which currency strong as quintessential the deutschemark, the of Wehrmacht guardian the As … the institution. best-feared replaced and best-known Germany’s has Bundesbank the 40 Australian Financial Review Financial Australian

, 05/06/ 1993., 05/06/

, 20/06/1978, Bonn. Good money Good provides “a uniquepossibil 42 The effects of money are perceivedmoneyare ofeffectsto The 41 In this sense, a macroecoa sense, this In Zeitschrift fuer das gesamte das gesamte fuer Zeitschrift , 09/10/1992. th Credit Policy Meeting of of Meeting Policy Credit th anniversary of the the of anniversary - 43 ------

10/07/2008 16:13:21 innovar31.indb 103 justmentcrisis” to purify itself,to purify cross must society a tears” of “valley the Given it. to will producewill its fruit. thirst” of“path the acceptedalong sacrifices the and Deutsche Bundesbank at the Financial Symposium of the Graduate School of Management of the University of California, Berlin, 04/ 04/ Berlin, California, of University the 05/ 1991, of p. 6. Management of School Graduate the of Symposium Financial the at Bundesbank Deutsche hurt” in order to achieveorderto in suchhurt” end, Faith, Cardinal Ratzinger, the highest theologicalauhighestRatzinger, the Faith,Cardinal then Head of the Congregation for the Doctrine of the moralstatus ofeconomics echoingby remarka theby In a speech, Hans Tietmeyer vigorously thereaffirmed ster, Palmengarten, Frankfurt am Main, August 30. In In 30. August Main, am Frankfurt ster, Palmengarten, 1995: 150). ([1912] Durkheim See totem.” the is principle That cohere: it makes and it animates both principle same is The time. same logical, the at moral purely us to seemed have first at might which organization, This sympathetically. vibrating and allied parts its all with tem, and thorough and “comprehensivethe justify will end this 1998:1)and experience“remoralizationa life”socialof(Tietmeyer Rather,will merelyeconomicnew beginning. it a live not will hyperinflation a after currency new a duces intro that country a that sees he ground a such On 55 54 53 52 51 50 49 48 47 46 45 44 tober 1. tober in order to fulfil its mission will also undergo a metaundergoa also will mission its fulfil orderto in upondraw will bank centralknowledge the The that As money and monetary policy acquire a moral mean morphosis that will put it at the service of morals. of service the at it put will that morphosis moral prowess well as economic as muscle.” from “stemsauthority its Bundesbank, the to erence someobserverstechnical. haveAs remarkedref with rael,once put it. Its authority no longer will strictlybe Is of Bank the ofPresident formerHorowitz, David society, as a of compass moral the into turn and tion transforma undergoa also will bank central the ing, which that intangible substance is represented in the imagination.” See Durkheim ([1912] Durkheim 1995: See 191). imagination.” the in represented is substance intangible in that form which tangible the is totem] the ... [i.e. It them. of none to identical but beings these of each in identifiable is that force impersonal by awareness of common kinship, continuity with the past and the future, and shared affinity with the land.” See Hiatt (1969:Hiatt See land.”91). the with affinity shared and future, the and past the with continuity kinship, common of awareness by European Equity Traders Convention of the Federation of European Stock Exchanges, Frankfurt am Main, 19/06/1997. Main, am Frankfurt Exchanges, Stock European of Federation the of Convention Traders Equity European it” for it. Rather,demandpeople thata “ready it be will spir mind. in cold the from inflation” of “ghost the to tion notmonetaryofthe merelyarena will demand reaca “Das Gespenst,” Ost-West-Kurier Gespenst,” “Das Tietmeyer, Hans. “Monetary Stability–A Perpetual Challenge.” Speech delivered by the President of the Deutsche Bundesbank, 1 Bundesbank, Deutsche the of President the by delivered Speech Challenge.” Perpetual Stability–A “Monetary Hans. Tietmeyer, Knapp, H. 1991. H. ” Tränen’ Knapp, “Im ‘Tal der Hiatt agrees with Durkheim that “group symbols … are vitalized by affectivity.” They become the “tangible foci of sentiments aroused aroused of foci sentiments the “tangible They become … by that symbols are “group affectivity.” vitalized with Durkheim agrees Hiatt “... Totemism is not the religion of certain animals, certain men, or certain images; it is the religion of a kind of anonymous and and anonymous of kind a of religion the is it images; certain or men, certain animals, certain of religion the not is Totemism “... See Durkheim ([1912] 1995: 124). “By their joining, then, the people of the clan and the things classified in it form a unified sys unified a form it in classified things the and clan the of people the then, joining, ([1912]their 1995:124). “By Durkheim See Eichel, H. 1999. “Feierstunde aus Anlass des Praesidentedwechsels zum 1. September 1999,” Speech delivered by the Finance Mini by Finance the delivered 1999,” Speech zum 1. September Praesidentedwechsels des Anlass aus H. 1999. “Feierstunde Eichel, Marsh, D., Norman, P., Peel, Q. and C. Parkes, 1993. “Tietmeyer: high-priest of hard money doctrine,” doctrine,” money hard of high-priest “Tietmeyer: 1993. Parkes, C. and Q.P., Peel, D., Norman, Marsh, Reimann, Winfried. “Geldpolitik muss weh tun.” weh muss “Geldpolitik Winfried. Reimann, See Durkheim ([1912] Durkheim 1995: See 208). Neue Zürcher Zeitung Zürcher Neue Durststrecke,” langen einer Ende dem vor “Italien Tietmeyer, Hans. “The Role of the D-Mark in the New Europe.” Keynote Speech delivered by the Member of the Direktorium of the the of Direktorium the of Member the by delivered Speech Keynote Europe.” New the in D-Mark the of Role “The Hans. Tietmeyer, 47 Only then, the long march across the desert 45 purification 44 and given that “monetary policy must that will be necessarytogetbe throughthatwill 48 [ , January 5, 1960, Nr. 5. , January emphasis added emphasis Finanznachrichten-Wochenschrift für Wirtschaftspolitik für Finanznachrichten-Wochenschrift 46 the moralizationthe Börsen-Zeitung 49 ] and ad and ] Bundesministerium der Finanzen der Bundesministerium 50 ------

, 22/04/1989. becomes the object of love, fear and respect. a moral community.moral a as and logical a as both itself recognize can clan the provides a material representation of the clan whereby and the materialobjectsuchreifiestheprinciple. that and principle abstract an time same the at is totem The collectively. clan a designate to serve that things of of notion theshows, 100) ([1912]Durkheim currency. As German the 1995:of totemizationpossible a for stage the sets banking tral cen and money German of the transfiguration thatsymbolic argue now will I game, the monetary upon German have can society German of center bolic sym the to linkage that effects the discussing After that are to be approached and treated with a formality unusualor physicalplaces markedstriking byfeatures (1965: 230) adds that totems are often associated with the celebrationthe sacrednessclan.the of that for calls acontinuous struggle. and neverends that challenge perpetual a is as framed secure can stability monetary that ground moral the of conquest the example, For dimension. moral traditioncomeintoplaypreventand itslosing fromit Christian the from drawn frames narrative alization, bolic center sym of society and the undergoes a process to of mor gets game monetary German the Once (Tietmeyer 1995: 4) moral.”oftherefore butmoralism,moral contrary the a not economyis the on expertise technical the pass by to able be Church:to“A itselfholdswhich moral Catholic Roman the within Pope) the (after thority , August 5, 1997., August , p. 151. 53 Its sacralization is nothing but nothing is sacralization Its , June 26, Nr., June 26/27. totem indicates the species the indicates The ar va o n n i revista 51

Financial Times Financial 55 54 Stanner journal And it And , Oc , 52 It 10/07/2008 16:13:21 st ------

103 innovar economía y desarrollo innovar31.indb 104 104 INNOVAR economía y desarrollo ond section. of part this ofmonetary To affairs. devote issue will I this the sec- bility has to do with the cultural macro-embeddedness linkage must be available in the first place. The availa- theeffects, producesuch to linkage symbolic the For ger segments of the general public. beforecentral bank German lar-theappealof the se a deep transformation that has contributed to increa- undergonehave Bundesbank the of and D-Mark the of meanings the result, a identity.such As constitute that dimensions political ontothe and existential the grafted been have affairs monetary Germany linkage symbolic Through society. Germany of center bolic sym- the of constituent fundamental a Republic deral constituted throughout the history of the German Fe- 56 the recapitulate,To contingent accomplishment. moremuch a it make whichconditions performative stringent moremuch subjectedto is banking central and money of totemization the societies modern in cieties. One can still draw the parallel and accept that tions under which totems operate primitive within so- societies the satisfaction of the very same ritual condi- modern of case the in require notphenomenon does ever, that a neo-Durkheimian perspective upon such a reallypushingit far.too importantstress,toIt is how- is societies modern within sphereeconomic the and societies primitive within sphere be- religious the parallel tween a drawing that complain might Critics guage–economics. lan- ritual a through and ritually Bundesbank–only finally,Deutsche shrine–the approachits to able And be will one affection. and respect of particular in principle. It become will a focus of various sentiments, that ofreification the as well as principleabstract an intoself-identification.for opportunity with turn an will It Germans providing thereby nation, the of bol sym- the into turns D-Mark society.The German of center symbolic the onto lands game monetary man Ger-Bundesbanktheonce the to D-Mark and the to apply speaking– can–structurally attributesthese All constitutes avery early example of sacred language. whoseforbidden is use profane in dealings, whichand pointsout–are requiredspecial languagea tospeakin relatedceremonies–Durkheim([1912]the 1995,310) ranging from respect to reverence. And participants to rev. iNNovar. vol. 18, 31, No. eNero aJUNioDe2008 57 can society.” See Wolf (1958: Wolf See 38). society.” can and tenor the of Mexi- which through representation’ It idiom a a is, Mexico: ‘collective ultimately, about way of be talking can expressed. cultural a relationships of these provides emotions It generate. rela- they which social emotions salient the refl the It embodies ects and Mexican. life, and Indian Mexican of present; tionships independent and past colonial religion; and politics family, together The emergence and establishment in the linguistic practice of the word ‘Euroland’ might point in this direction. this in point might ‘Euroland’ word the of practice linguistic the in establishment and emergence The According to Wolf, the Virgin of Guadalupe, Mexico’s patron saint, provides such an example. “The Guadalupe symbol thus links links thus symbol Guadalupe “The example. an such provides saint, patron Mexico’s Guadalupe, of Virgin the Wolf, to According 57 Wirtschaftswunder identity has has identity 56 awarenessmovedaboutsuchlatentdi- has anchoring chaftswunder game to a virulent spin that latentis the within monetary German the of anchoring an reflects terms such in affairs monetary German re-presentation of the that out pointed have representation. I of mode however, this intoforeignobservershave tappedonly public, German the toavailable Though terms. ristic milita- in represented been occasionally have Bundes- bank the and D-Mark the suggested, earlier As lic center of society. German tapult the D-Mark and the Bundesbank to the symbo- symbolic linkages are and can be made available to ca- thereforewhatextentbe toshow possiblehowandto cro-embeddedness itmonetarywill German ofaffairs, ma- cultural the addressing By banking. central and moneyrepresentationfor possibilitiesGerman new of create as well as meaning in changes such influence macro-embeddedness of German monetary can affairs culturalconcrete the in howshow will Now,I aning. me- of layersnew acquire BundesbankDeutsche the and D-Mark thesociety, German of center symbolic as a result of a ofshift German monetary to affairs the suggestedthat,have I section this of half first the In tors must follow to trigger changes meaning. in central can take. banking And it lays out the rules ac- and money German meanings the defines It unfold. monetaryaffairs which German culturalspace within tions.Such network constitutes topographythe rela-ofthe symbolic of network a through another one to of different semantic fields that are variably connected result, they occur acultural within space that consists a As embedded.culturally are theyRather, vacuum. cultural a in unfold not do affairs monetary German dniy I ae lo tesd ht the that stressed also have I identity. Wirts- 10/07/2008 16:13:23 innovar31.indb 105 29/10/1998. her week-long tour, her [i.e. “During bombing: a carpet resultas collapse air of an that represented currencies implicitly are buildings as account llowing in a popular newspaper.British Here, exchange market looms on the background currency of the fo foreign the in downs and ups the and war experiences between parallel public the example, For general dynamics. market the way the to finding Bruegger’s and Knorr generalize well could One ket. tion among traders and between traders and the Mar that violenceconstitutes found onethatshapeshorizon interac have 2002) (2000, Bruegger and Knorr Zurich, in market exchange currency foreign the of floor trading one of studies their In sublimated. get war and violence of practices traditional sphere the a where is market financial the that news no is It netary Union. culturalpoint ofview thestep into theEuropean Mo a from justified it how and terms militaristic in bank Bundes the imagine to possible structurally it made unfold affairs monetary German which within space symbolic the of topography structural the how show now will I circumstances. whateverpragmatic under the imagine above-mentioned virulent transformation structurally impossible for German monetary toaffairs it making therebyeuro, the with it replacing by and D-Mark the with away doing by was it did they way possibilityral into might apragmatic turn reality. The structu such that chance the against action spectrum take to political the of sides different alike–from fferent German observers–intellectuals and politicians 64 63 62 61 60 59 58 ten an.” Frankfurter Al Frankfurter an.” ten “The Zoo Story.” Zoo “The Buch–Interview by Dieter Wild and Romain Leick.” Leick.” Romain and Wild Dieter by Buch–Interview 27/08/1988. it. The structural topography within which German German which within topography structural The it. is it though affairs, netary mo representationGerman of militaristic a for stage wherearewagedwars spilledbloodand out is sets the The possibility of coding financial markets as a terrain to close at 2.42 marks.” yesterday pfennigs half a and three fell POUND The raids. firestorm RAF by II War World in destroyed was that Dresden of city the visit and Berlin in Gate Brandenburg the through walk will she Germany, to Remarks by Dieter Wild and Romain Leick from Der Spiegel in their conversation with Bourdieu. Pierre Bourdieu. “Wie Maos rotes rotes Maos “Wie Bourdieu. Pierre Bourdieu. with conversation their in Spiegel Der from Leick Romain and Wild Dieter by Remarks Calle, Marie-France. “Le mark impérial.” mark “Le Marie-France. Calle, Ferguson, Niall. “This is the way to the Fourth Reich.” Reich.” Fourth the to way the is “This Niall. Ferguson, RR-iaztaskeä Ne rtset itee” etr A, emn, 91/98 “o gef dn Bundesbankpräsinden den greift “Noé 29/10/1998; Germany, AG, Reuters Tietmeyer” kritisiert Noe “RTRS-Finanzstaatsekretär Josson, Robert. “Sorry Ma’am Your Money’s no Good Here.” Here.” Good no Your Ma’am Money’s “Sorry Robert. Josson, Balk, Michael. “Euro beendet Bundesbank Ära.” Ära.” Bundesbank beendet “Euro Michael. Balk, The Guardian The itself.” unto alaw is which apower Bundesbank: “The The International Economy International The l gemeine Zeitung, 29/10/1998; Peter Normann. ‘Bonn on collision course with central banks.’ banks.’ central with course collision on ‘Bonn Normann. 29/10/1998; Peter Zeitung, gemeine 58

not enough to allow enoughto not se per Queen Elizabeth II’s Elizabeth Queen

Le Figaro Le , 17/04/1992, March/ April. , 17/04/1992, April. March/ Der Speigel Der , 03/ 10/ 1995. isaee Kurier Wiesbadener The Sunday Telegraph Sunday The ] third ] third The Sun The , 09/02/1996, Nr. 50, p. 172. This image is also used in Herlt, Rudolf. Rudolf. Herlt, in used also is image This 172. p. Nr.50, 09/02/1996, , ------cratic and absolutistic”. “pre-demo as Bundesbank the labelling by money” to Tietmeyer’s conception of the euro as “depoliticised reacted Minister, Finance as tenure Lafontaine’s kar Os during Secretary State Noé, Claus Bundesbank, racy. Does this actually apply? In a polemic against the inscribed not developed politicalfully theof horizon is within democ that institution an is Bundesbank DeutscheReichspresupposesthe German that the of experiencefieldidentifieshistoricalthatsymbolicthe theonto affairs catapultingmonetaryclarity.First, of purpose the for them of two Let’spartially.take only of attributes that the latter either do not share numberor share a banking central and money German upon etary areaffairs quite problematic because they projectmon German transfigure to attempts these view, of ers have in this respect are quite ambiguous. Reimutambiguous. quite are respect this in have ers bank central German the self-perceptions that The would allegedly set the stage. DeutscheBundesbank the whichReich”, for“Fourth a of ghost the evoking as far as gonehave they And aks uhrte a a rsin Hg Command.” “High Prussian a as authorities bank’s sented the D-Mark as an imperial reprehavecurrency. They direction. this in available symbolic linkages the mobilizing at imaginative particularly tionedabove, Frenchobservers British andhave been menReichs. German As the ofpast imperialistic the codifies thatsphere symbolic the to affairs monetary addressingdisplacementbythe start German of will I such representation manage to gel. will together,takenwhereas, affairs monetary German of representation militaristic a support to sufficient not separately,are takenthey that, show and linked, are monetaryaffairs which spacesGerman to symbolic te separa three choose here will I point, my clarify To respect. the this in determiningmore be on can hand,other embedded, are banking central and money “German Diktats.”“German registered the policy steps taken by the Bundesbank as the Bundesbank “a is power which law is unto itself.” Guardian , 04/10/1989. , 20/10/1992. , 29/07/1997; “Francfort” “Francfort” 29/07/1997; , , 12/03/1995. once insisted on this point when stating that 60 They haveregardedBundesThey the 63 The Economics Editor of rnfre Aleen Zeitung Allgemeine Frankfurter 62 From a structural point ar va o n n i revista Financial Times Financial 59 They have journal The The 64 10/07/2008 16:13:23 61 ------, ,

105 innovar economía y desarrollo innovar31.indb 106 106 innovar economía y desarrollo off the balancethethroughwithout and industryoff delay.” pay whodebtors, reliable be to history,beforeprove, up credit, both materially and metaphorically. May we taken have we Instead, full. in it haven’tfor we paid unity. German us We have immediately accepted, but offered has history enough,“Surprisingly unification: German of process the to referenceTietmeyer, with anotherface in quote byBundesbank President, Hans 1968, Nr.1968, 27, p. 6. Otto Pöhl, Schloß Bellevue, 07/05/1995, Bellevue, 1-2. pp. Schloß Pöhl, Otto interpret such a sign as butanything the visceral reac quest ral for power. It would mistake,a be however, to been occasionally misunderstood have as a sign of can a unilate goal its pursued single-mindedly has bank determinationThe whichDeutschewith the Bundes oath of 1479 taken by the Aragonese aristocracy be aristocracy Aragonese the 1479by takenof oath the pronounced Tietmeyer Hans Pöhl, Otto Karl of resignationthe of occasion in that reportsJochimsen rev. i will not.”will youobserve ourlibertieslaws.and not,But thenif we provided lord, sovereign and king our as you accept to us, than better not are who you, to swear you, as good as are HelmutSchlesinger:“We,successorwho the to allegiance ofvow a as King Castillian thefore 67 66 65 70 69 68 rence ‘The United Germany: Impact on Business and the Economy,’ Berlin, 19/10/1995, Berlin, Economy,’ the p. and 14. Business on Impact Germany: United ‘The rence established.” “inflations, much like dictatorships, that must be suggestedfought before they onceget Emminger, Otmar “Hans Tietmeyer–ein großer Präsident geht in den Unruhestand.” Speech delivered by the President of the Landeszentralbank Nordr 01/09/1999, p. 3. hein-Westfalen, Landeszentralbank the of President the by delivered Speech Unruhestand.” den in geht Präsident großer Tietmeyer–ein “Hans affairs into the symbolic space that codifies the Ger the monetary codifies that space symbolic the German into affairs catapult effectively to Second, favorin and not to the detriment of democracy. people!” wholeGerman the serve to able be will bank central an again in reunified fatherland one currency and one whencomeday the mayjustice! socialAnd and dom withGod’s help placea work of fruitful peace, in free be itcompletedsuccessfully may be and “Maybuilding this it: in engraved wish following the had Board Executive Bundesbank the Bundesbank Frankfurt-Ginnheim, the in of headquarters new the of stone foundationhistory.theexample,placing Foritswhile tional attitudes that the Bank has displayed throughout particularlyinstitu squaretheto withthatis difficult war-mongerishattribute power-thirsty. an and is This Reichs, man theDeutsche Bundesbank should appear Blessing, Karl. “Zur Grundsteinlegung für das neues Dienstgebäude der Deutschen Bundesbank-10/11/1967.” der Deutschen für das Dienstgebäude neues Karl. “Zur Blessing, Grundsteinlegung Dahrendorf, Ralph. “Ansprache.” In occasion of the dinner for the 70 the for dinner the of occasion In “Ansprache.” Ralph. Dahrendorf, “La Bundesbank veille sur le dieu Mark.” Mark.” dieu le sur veille Bundesbank “La Quoted by Jochimsen from Cees Nooteboom. “Der Umweg nach Santiago.” Frankfurt am Main, 1992, p. 307. In Jochimsen, Reimut. Reimut. 1992, p.Main, 307. am Jochimsen, In Frankfurt Santiago.” nach Umweg “Der Nooteboom. Cees from Jochimsen by Quoted Quotation from “Otmar Emminger–Kernsätze zur Währungspolitik.” Währungspolitik.” zur Emminger–Kernsätze “Otmar from Quotation Tietmeyer, Hans. “Monetary Policy and Economic Renewal.” Keynote Address by the President of the Deutsche Bundesbank, Confe Bundesbank, Deutsche the of President by the Address Keynote Renewal.” Economic and Policy “Monetary Hans. Tietmeyer, nn 67 ovar. 65 Such a peace orientation comes to the sur the orientationto peacecomes a Such On the other hand, Bundesbank President, 66 The Bundesbank,result,The a as would act V ol. 18, 31, No. E N ERO L’ Évenement du jeudi L’ du Évenement

A JUN IO D E 2008 68 ------

, 14 au 20 January 1993, p. 26. , 14 20 January au language spoken by the economy.spokenthelanguage by in Andorra, is equated by Dahrendorf with the special spoken language the i.e. Catalan, economy.And the tical authority overlooking the Bundesbank; the latter, dent regent and judge. The former represents the poli they rule from far, Andorra is ruled by a local indepen idea of Power; and the second, that of Spirit. And since continues–embodiesthefirst–Dahrendorf Urgel. The of Bishop the and France of President the i.e. lords; two of authority the under falls formally whichnees, Pyre the in state small the is that Andorra, of state the with Bundesbank the paralleled has Dahrendorf direction.thatones,contributeRalphtend they to in Bundesbankbut, when coordinatedprevious the with the of representation belligerent a establish to cient occasion Issing suggested has Otmar that one example,in move.suchFor coincidedwith tedly The very staff of the Deutsche Bundesbank has repea gory projects the Bundesbank into the religious sphere. sphere. Again, suchlinkages sphere.Again, that project German monetary affairs into the religious linkages symbolic constellationof a to resorted nally Now, participants to the monetary game have traditio public.man of the Deutsche Bundesbank, at least before the Ger representation belligerent a establish to sufficient lly past does not seem Germany’sstructura fies imperial Toalone linkage summarize, to the sphere that codi banknote on the office. wall of hanging his 1923:showsbanknoteofhe Reichsmark a billion 500 repeated”, says a Bundesbanker to a French reporter as any but one obsession: such a folly must never again be outto guard its people against: “At the Buba, we have tion to a past which the Deutsche Bundesbank has set Nr. 93, 1986, p. 8. Bundesbank Die th [ produce can upon newcomerthe bank of task central the the and prestige the environment, new the of influence oftribution competence that before,has been missing the dis the in happening Pentecostmiracle repeating tantly cons of kind a in believe to want not does one if even which may produce in one case or another surprise and and surprise another or case one in produce may which Birthday of Helmut Schlesinger und of the 65 the of und Schlesinger Helmut of Birthday t h Bundesbank the at a rnfrain f i perception his of transformation a ] do not seem suffi seemnot do se per 70 Die Die Bundesbank Dahrendorf’salle th 69 Birthday of of Birthday

, March , March ------10/07/2008 16:13:23 innovar31.indb 107 agnosticism.” life was devotedD-Mark.”thewas tolife “His point: this generallyobituariesmake Theirsion. “Bewunderter Gralshüter der Deutschen Mark.” Frankfurter Mark.” Deutschen der Gralshüter “Bewunderter licy was his life.” his was licy 15/03/1991, 7-8. pp. dogmatics”, “Vaticantheir to haveit,put criticssome or, as ideas their to committed dogmatically as Bundesbankers representationthe a offor stage the setsBundesbank the of transformation attribute religious The the belligerency. of with occurs similar quite Something terms.ristic represented,beingfromand resulta as milita ofit, in towardsReichs semanticthe ting German fieldthe of drif from affairs monetary prevents German that tes attribuwouldstructuraltherefore the weakenof one outcomeSuch expect. would one as firm as not are vedemocraticthatthe credentials Bundesbanktheof upon itself. could This make it more plausible to belie 79 78 77 76 75 74 73 72 71 Editorof the strengthens the reading of those like Claus Noe or the Churchonlytheto giance notoandother institution alle owesthat clergy a into staff its of Churchand a Such symbolic transfiguration of the Bundesbank into of the Deutsche Bundesbank at the Scientific Colloquium in occasion of the 65 the of occasion in Colloquium Scientific the at Bundesbank Deutsche the of monetarypolicy.” a Tietmeyer: is President,“He Hans Bundesbank to ce President, Karl Otto Pöhl, once observed with referen ger as “inflation’sgerKhomeini.” as Schlesin Helmut President Bundesbank to referred chmeyer Hengst & Co. partnermanaging has jokingly Muen Schroeder A fanatics. representation as their

Seuss, Wilhelm. “Ein Streiter für die Stabilität.” Stabilität.” die für Streiter “Ein Wilhelm. Seuss, Issing, Otmar. “Geldpolitik im Spannungsfeld von Politik und Wissenschaft.” Speech delivered by the Member of the Direktorium Direktorium the of Member the by delivered Speech Wissenschaft.” und Politik von Spannungsfeld im “Geldpolitik Otmar. Issing, “In memoriam Otmar Emminger.” Otmar “In memoriam An article in death of Otmar Emminger. Rudolf Herlt, 08/08/1986. Herlt, Rudolf Emminger. Otmar of death in article An Noé. Claus. “Geld ist Politik.” Politik.” ist “Geld Claus. Noé. See Willenbrock, Ernst. “Ein Gralshüter zeigt Schwächen.” Schwächen.” zeigt Gralshüter “Ein Ernst. Willenbrock, See Rexach, Alfred. “Los dioses del dinero.” dinero.” del dioses “Los Alfred. Rexach, Marsh, David. “Two true believers with tight money as their goal.” goal.” their as money tight with believers “Two David. true Marsh, Institutional Investor Institutional Pöhl.” Otto Karl of ordeal “The Kevin. Mühring. in See believer. readiness to undergo martyrdom, I will leave it Iwill open. to undergoreadiness martyrdom, includethe also shouldone case this with whether along Anyway, King. the of interests the of representative ged developChurch could alle the the ofout interestsof the chancellor,trusted his and saw how a genuine defender of Canterbury of archbishop as appointed whenhe England of II Henry of experience the with ‘Beckett-effect’ along the ‘political sponsor’. I phenomenonwould this define as of part the on indignation, even not if disappointment,

I 72

am n a itgal dvtd o hi mis their to devoted integrally as and 77 Guardian The possibility that the German cen German the that possibility The

a 74 75

bit Or, he “died the way he lived–in he way the “died he Or, Such integralism paves the way topavesway Suchintegralismthe

afraid that see the Bundesbank lawa Die Zeit Die

of 76

Börsen-Zeitung Similarly, Bundesbank him. , 29/10/1998. 73 Or,“monetarypo La Vanguardia Magazine Vanguardia La

You

need Frankfurter Allgemeine Zeitung Allgemeine Frankfurter , 05/08/1986.

a 71

bit Neue - Sonntags Allgemeines Deutsches

of ------

Presse , 22/08/1993. Financial Times Financial evils of inflation.” of evils the against battleWagnerian “a wagewould bankers nomy, and “like Teutoniceco European knights”the the German of central “Odin” the be then would yer Walhalla.”Tietme his Hans for scenario a as it used had known this place [ Wagner “if that,remarked once journalist Spanish a foreign observers have occasionally done. For example, audiences of representing them as Teutonic German forknights, as plausibility the increases D-Mark the of sibility of ofthinking the Bundesbanker as the Knights words, into the defenders of the Holy Grail. otherBundesbankersTemplarinto the or, in Knights public a new cluster of representations that transfigures of religion, it is possible to mobilize within the German projectedBundesbankthe is semantictheintosphere from the semantic sphere of the gameGerman Reichs. monetaryOnce German the separates that distance structural the cut can spherereligious the to linkage which through path further however, one is, There terms. militaristic in meaning its of twisting a to way Reichs,thethereby paving German the sphereof the toattributesprevented thatlinked getting from them religiousspheretwothe weakens theto affairs netary mo German of To linkage recapitulate,symbolic the people,his such the as Great Leap.” building by which he could pretend any absurdity from theoreticalauthoritariangenerated Maoweapons. an are “ideas thatobserves and Mao’sBook Redand do Tietmeyer’sbetweencre analogy an draws he when explicit quite point this makes Bourdieu sequences. enforcementvery oftenhas ofdogma led tosuch con fanatic the that remind to there are religions secular other of history the as well as Church the of history belligerent itcouldthatturn war-mongerish.and The possibility the to way the paves fanatic be bank tral ce that discourse need to cover for the D-Mark and D-Mark the for cover to need discourse that ce distan structural thereduces religion of field mantic the projection of German monetary intoaffairs the se cultural backbones of the Reichs.German a result,As the Wagner’sof constitutedonerevived in has work, , 17/05/1991. , 25/06/1990, p. 73. th Birthday of Prof. Dr. h.c. Norbert Kloten, Stuttgart, Stuttgart, Kloten, Norbert h.c. Dr. Prof. of Birthday , 05/08/1986. , 19/05/1991. 79 Now, the TeutonicNow,the mythology, as Blatt, Blatt, the the Bundesbank 27/08/1972; Salchow, Burkhard. 27/08/1972;Burkhard. Salchow, ar va o n n i revista ], he would have 78 The pos journal 10/07/2008 16:13:23 ------

107 innovar economía y desarrollo innovar31.indb 108 108 innovar economía y desarrollo the “bacillus.”the a “self-quarantine” might be needed as a shield against in Mexico” may turn into a serious “flu” in Europe and tion before it too late. is Frankfurter Allgemeine Zeitung Allgemeine ten.” Frankfurter Quite interestingly,Quite af monetarycatapulting German above-mentionedthe ofcoupling the Though seman “German Chivalry.” a into Bundesbank the transforming thereby terms, military metaphor knightin the recast to leadfact in can knights as Bundesbankers the ofrepresentation representedget andReichs accordingly. German The the of spheresemantic the reach to Bundesbank the rev. i hionable during hionable the Nazi during regime and in the years that fas particularly been have representations Hygienic cratic order. institution that can act beyond the reach autarchic of the moredemo a into Bundesbank the of formation trans the legitimizes inflation of medicalization the order.enforcesocialUndercircumstances, suchto in specialwith powers comes andvery often themilitary endowedare crises the manage that institutions The democracies. as function them make thatingredients and suspend, at least partially, some of the constitutive before an epidemic, democracies Commonly, resolve.shift to a showstate of must siege act that institutions ease hits, institutional response must be ready and the epidemicdis an Bundesbank.When the ligerencyof bel ofautarchy andof attributes structural the upon spherehave implications can this importantinto fairs propagationintothe infections.of turns market currency international the throughout representedofshock disease.a diffusion The as waves be to starts hygiene, medicineandsphereinflation of Once money and central banking drift to the semantic representation that in direction. that tiltnethe possibilitycan for add link the missing affairs into the semantic sphere of medicine and hygie suggest will I that theprojection monetary of German central banking into a concretely and moneylegitimate German possibility. of framing militaristic a turn to the Reichs German nothas been sufficiently curtailed sphereof semantic the and affairs monetary between German distance the plausible, more affairs netary mo of belligerentviolent orturn a spheres makes tic 80 84 83 82 81 fied to eliminate the “bacillus” 16/09/1992. Such notions have been used since the very beginning. See, for example, Blessing, Karl. “Eine ‘Dritte Inflation’ ist nicht zu befürch zu nicht ist Inflation’ ‘Dritte “Eine Karl. Blessing, example, for See, beginning. very the since used have been notions Such Süddeutsche Zeitung will.” Süddeutsche sagen uns Markt der “Was Josef. Joffe, “Den Inflationsbazillus ausmerzen” ausmerzen” Inflationsbazillus “Den Esterhazy, Yvonne. “Das Verhältnis der Briten zur Briten zur Deutschen Bundesbank ist äusserst ambivalent.” ambivalent.” äusserst ist Bundesbank Deutschen zur Briten zur Briten der Verhältnis “Das Yvonne. Esterhazy, Financial Times Financial nerves.” its steels “Bundesbank nn ovar. 82 V Abovepolicy-makers all, justi be will ol. 18, 31, No. 80 84 83 E , 07/04/1965, p. 13. N Wirtschafts Dienst–Weltarchiv Wirtschafts or the “virus” of infla ERO 81 A “lung infection“lung A

A JUN , 26/19/1992. IO D E 2008 ------, Hamburg, 01/01/1970., Hamburg, , 11/03/1995. ches On-line”: the of llowing article under the title “Bundesbank Sectionand Chur Time fo the publishedonce Zeitung Spare Allgemeine Frankfurter and Computer The religious terms. in BundesbankDeutsche the or D-Mark the casting re of possibility the restricts orembeddedness allows macro-culturalshowhowreligioussphere and the to banking central and money German of linkage bolic Wirtschaftswunder monetary to man one affairs specific dimension of the Ger anchoring of possibility the macro-embed influences dedness cultural way what in showing After such astructural possibility from the root. eliminated has Union, Monetary European the Germany join having by did politicians German as ver, howescene, the be from D-Mark the will Removing used. possibility such whether say will place will take affairs monetary German and politics German which within circumstances pragmatic the and latent Simply, place. is it take actually will it that imply not does possible structurally is German spherepublic turn such a the within that have fact The observers done. foreignrepeatedly various as terms, litaristic representedmi be publictoin sphere themfor man Ger the within possible it make unfold can affairs monetary German which within fields semantic the of topography structural specific the conclusion, In terms. militaristic monetary in affairs German plausibleof recastinga public,for German a the German Reichs, thereby setting the stage, even for tween the monetary sphere and the semantic sphere of reducebe hygienedistance even andthe will further As a result, linkage to the semantic sphere of medicine moreviolent. monetaryspherethe morebelligerentturning of and possibility the dramatically increase therefore can re sphe medical cleansing. the into affairs ethnic monetaryCatapulting and social of forms various tified jusprecededmotive has a Hygienebeenit.that has gine for Christian Internet-offers in German language. language. German in Internet-offers Christian for gine search-en a up set have Church Catholic the and lical Evange WorldWeb.Wide The the in offer church only “Pray the with Pope” in English] [original is no longer the identity, nowI will focus upon sym Handelsblatt ------, 10/07/2008 16:13:24 innovar31.indb 109 Stabilität.” Stabilität.” der. awewonand time same the at inspires outitthated guard. is deity and demon combined.”demon and deity is cludesasceticsboth such Helmut as Schlesinger have stressed that within its ranks the Bundesbank in the Faith–“all pure belief and holy rigidity” of Doctrine Congregationthe forPrefectthe of dinal r o h Acbso o Frankfurt. of Archbishop the to or Cardinal Secretary of State, almost dogmatic in his be liefs but brought up in the waters of practical politics, entity, all-powerful an as depicted been often has D-Mark The discourse. public in recurrentbeen has desbank Bun Deutsche the of and D-Mark the of figuration outsideand within Both Germanyreligiousthe trans juxtaposition. suchof sense make orderto in drawreaders can the ference the publicavailable within sphere from which Churchthe Third of Germany’ the is intertextual re as Bundesbank ‘The other. the on Bundesbank the and hand one the on Churches Evangelical the and juxtapositionthegrounds thatbetween Catholic the at operating perstructure the level of public cognition Suchseeminglya innocuous association betrays sua 96 95 94 93 92 91 90 89 86 85 88 87 German culture. German thatthere could One arethen think dedness of the D-Mark and of the Bundesbank within ligion does not only depend upon the symbolic embed German monetary to affairs the semantic sphere of re This implies that the availability of symbolic linkage of way.representedhavebeen this affairs monetary too, countries, other phenomenon. In isolated no is fairs monetaryaf German ofreligious transfiguration The of the Bundesbank either to the Pope, the to either Bundesbank the of preachers Die Woche Die Geldes.” des Kardinal “Der Peter. Glotz, Fleischhauer, Jan. “Der Erzbischof aus Frankfurt.” Frankfurt.” aus Erzbischof “Der Jan. Fleischhauer, Grunenberg, Nina. “Prediger der harten Mark.” Mark.” harten der “Prediger Nina. Grunenberg, “La Bundesbank veille sur le dieu Mark.” Mark.” dieu le sur veille Bundesbank “La See for example Grunenberg, Nina. “Prediger der harten Mark.” Mark.” harten der “Prediger Nina. Grunenberg, example for See Frankfurter Allgemeine Sontagzeitung Allgemeine Frankfurter Netz,” im Kirchen und “Bundesbank See for example Rexach, Alfred. “Los dioses del dinero.” dinero.” del dioses “Los Alfred. Rexach, example for See Münster, Winfried. “Die allmachtige Mark.” Mark.” allmachtige “Die Winfried. Münster, Spinelli, Barbara. “Le sirene sulla strada dell’Europa.” dell’Europa.” strada sulla sirene “Le Barbara. Spinelli, “E Hans lanciò la scomunica in nome dell’Euro.” dell’Euro.” nome in scomunica la lanciò Hans “E See David Marsh in Fisher, Marc. “Bundesbank: Symbol of solidity.” solidity.” of Symbol “Bundesbank: Marc. Fisher, in Marsh David See Whitney, Craig R. “Blaming the Bundesbank.” Bundesbank.” the “Blaming R. Craig Whitney, step net: …intothe h now a taken Deutsche has the Bundesbank address.Also The The text may be atvisited 89 aiu osres ae qae te Presidents the equated have observers Various 86 87 Some have suggested that “the Bundesbank “the that suggestedhave Some a God that the Bundesbank was supposedto wasBundesbank the that God a Die Rheinfalz Die 95 such Tietmeyer. Hans as , 17/08/1996; Schön, Hans Dieter. “Inflation wird wieder Trumpf.” Bayernkurierwieder wird , 17/08/1996; “Inflation Dieter. Hans Schön, ttp://www.Bundesbank.d h ttp://Christweb.d 88 Others have point have Others L’Évenement du jeudi du L’Évenement 93 Süddeutsche Zeitung Süddeutsche ial, others Finally, 90 New York Times York New e Die Zeit Die . One more or the Car the or Corriere della Sera della Corriere e 91 85 1997, Spiegel Nr.Der 23. –or –or to the , 03/04/1998. La Stampa La , 24/01/1997. 94 La Vanguardia Magazine Vanguardia La and 92 ------, 17/10/1993. , 14 au 20 January 1993, 24-25. pp. , 14 20 January au

, 07/03/1995. Die Zeit Die , June 8, 1997,, June p. 1. shares shares the attributes of a sacred cosmos. of realm The therefore it so, doing By perennial. and fixed is that order cosmic a economy, words,The otherreflects in commonly attributed to politics: that stands in marked contrast with that of thatflux is constantly attributed to the economy a quality of fixity remarked, has observershavejournalist Italian an As greater detail latest on this point. elaboratein will I clarity of purpose the spheres.For religious the and monetary the between available is derstand whether and to what extent symbolic linkage un considerationorderbroadlytointovery in affairs to take the cultural macro-embeddedness of monetary need will analystreligiouswhythe an spheres. is This and monetary the between homology the sustain to contribute also can general in economy the of butes structuralattri thesomethatof realize soon onewill however,respectiveclothes.then,Even own their up dergo a transformation of their identity when they take tions and both central bankers and priests seem to un central andbank the Church are independent institu sphere and the religious sphere. For example, both the that could ground an homology between the monetary general in field monetary the of attributes structural , 30/05/1997. The Washington Post Washington The economy. the of necessity the and politics of freedom betweenthe constituencies: two its between up opened has that tion for and competi the Maastricht, todaywith happens So them. or abolish ignore but them, cannot against himself physis, Nature, or or tyché, fatal casuality. The tragic hero necessity, affirms ananke, called are They thought. Greek classical the in evoked repeatedly are laws These nations. and of individuals possibility the limit by nature that laws the to obedience the and territory over actionsgiven a own one’s entirely control to desire the ween of necessity, that and of freedom between kingdom the despotisms–bet by only tension–overcome ancient an , 24/ 01/ 1997, Nr. 5; Öhler, Klaus Dieter. “Der Prediger der , 24/ der 01/ 1997, Prediger Nr. “Der Dieter. 5; Öhler, Klaus , December 8, 1996, p. 15. , December 96 , 22/08/1993. , 27/09/1992. , 22/01/1977. ar va o n n i revista journal - - - 10/07/2008 16:13:24 - - - -

109 innovar economía y desarrollo innovar31.indb 110 110 innovar economía y desarrollo tion of “augurs.” (2001, 78-90). pp. becomes structurally possiblesacrednessbecomesforstructurallydiffu to attribute of an the sacred order,cosmic fixity Being it intoitrequires divination separate from the profane realm of citizens. Glimpsing The fixed cosmic order that underpins the economy is ho historical the beyond time and space mythical a into catapulted are affairs monetary passage, this In from pop culture: the in appearedarticle another in reproduced again is order cosmic a such of fixity The profane. the of realm the with shares it that flux of realm the is hand, other the on politics, rev. i into sacred and time eternity breaks into aflux.” “aand rathergalaxy” and time briefer period”–irrupts suddenlytime–“ourup.Then,ownhistorical build to havecontributedordertheyeternal the of partake re therefo generations”–and thousand immemorial–“a with the order paralleled of the Jedi knights that are exist since time bankers Central present. the of rizon 103 102 101 100 99 98 97 105 104 rassicurano i mercati italiani.” italiani.” mercati i rassicurano Times nancial nancial Times nancial p. 12. “Steering between two evils: Unreliable charts are making the Bank’s job tricky amid the reefs of inflation and recession.” recession.” and inflation of reefs the amid tricky job Bank’s the making are charts Unreliable evils: two between “Steering

Lepri, Stefano. “La Banca d’Italia alla prova dei tassi.” tassi.” dei prova alla d’Italia Banca “La Stefano. Lepri, Zeise, Lucas. “Sieg des geldpolitischen Pragmatismus.” Pragmatismus.” geldpolitischen des “Sieg Lucas. Zeise, Frankfurter Allgemeine Zeitung Allgemeine Frankfurter Papiergaunerreien.” die “Wider Otmar. Issing, Warner, Jeremy. “An independent Bank is Labour’s litmus test.” test.” litmus Labour’s is Bank “An Warner, independent Jeremy. “No sense in strict 3% deficit as the magic figure for Emu. Letters to the Editor.” the to Letters Emu. for figure magic the as deficit 3% strict in sense “No Sueddeutsche Zeitung Sueddeutsche neutral.” jetzt ist DM “Die Winfried. Muenster, Galimberti, Fabrizio and Luca Paolazzi. “I guai politici francesi e tedeschi rendono meno aspra la marciaverso la moneta unica e unica moneta la marciaverso la aspra meno rendono tedeschi e francesi politici guai “I Paolazzi. Luca and Fabrizio Galimberti, Caputo has interestingly noted the religious structure of Lucas’s film saga in his essay on the “religion of Star Wars.” See Caputo Caputo See Wars.” Star of “religion the on essay his in saga film Lucas’s of structure religious the noted interestingly has Caputo Recession. Darth nasty equally the and … Inflation Darth evil the … evils two between course a plot to has it information, unreliable such with only Armed evidence. anecdotal to statistics official from ranging on, go to data precise less far has MPC the But … danger.of sign sure a is it force, living the in disturbance a senses he when that, knows tougher than the one threatening the Jedi Council. A Jedi be might MPC the for problem The be … one? to phantom a out turn it will But menace. a facing is Council, Jedi the like MPC, the Nevertheless, … period. briefer rather a for kingdom’s the prosperity ensured has (MPC) committee policy monetary England’s of Bank the laxy, Warsga and music).theme time own our Meanwhile,in Star (cue Menace Phantom the facing is Council High peace and justice throughout the galaxy. But now the Jedi For a thousand generations, the Jedi knights have ensured nn ovar. , August 7,, August 1999, p. 3. , February 24, 1997,, February p. 18. 97 V 100 ol. 18, 31, No. that borrows borrows that Times Financial 99 Il Sole 24’Ore Sole Il and calls forinterven the calls and E N ERO

, June 6, 1997, p. 11; “Logic of independent central bank. Letters to the Editor.” the to Letters bank. central independent of 1997,6, 11;“Logic p. June , A JUN IO D La Stampa La E 98 Boersen-Zeitung 2008 - - - - - The Independent The , May 31,, May 1996, p. 26. a “monetary religion” “monetary of a light the in interpreted been has stability netary and eternal damnation.” chaos,tomisery,cent perdeficitcountry condemnsa 3.1a while bliss, happinessand in liveenablesto one and fine is deficit cent per 2.9 A product!domestic gross the of deficitcent per 0.2 a is misery and ness happi between difference “The criteria: Maastricht the uphold to need the terms these in framed have the of reader a destruction.toAccording and chaos,darkness,evil plungeexistenceinto order will cosmic theRejecting who pursue it. seen an as actdemanding of faith on the of part those soon renamed the as “Maastricht commandments.” observers various that and macroeconomicallyverge con to UnionEuropean the membersof theforce to so-calledMaastrichtthe criteriathatwere introduced debateoverthe clearlyin surfaces uphold This them. introducedto are arrangements institutionalthat the commandment, of the dogma and of orthodoxy but also and price stability can gain the imperative force of the stability monetary rules, monetary only not result, a commandment,thoseof as orthodoxy.anddogma As representationsofavailable, suchbecomesrange new a fixity, of attribute the share that sphere monetary the of dimensions those into flows sacredness Once affairs unfold, and in particular upon the simultane the upon particular in and unfold, affairs to monetarywhich the within fieldcultural the pographyof upon depends linkage symbolic a of ability haveavailsuggestedsectionI the that this Earlierin rules have been equated to Monetary “religious are. sciences.” they indeed And to sphere. linked religious the get to apt be therefore would and tegory ca such within fall would stability price and netary expect that the monetary rule and thereforethe notions would of mo One nature. fixed markedly a have to appear that economy the of realms those into se , April 20, 1996. , April , December 31, 1998, p. 41. , December , April 6, 1996, p. 17., April , March 1, 1997,, March p. 23. The Financial Times Financial The 103 Financial Times Financial 102 and price stability has been has stability price and 105 , European governmentEuropean , , June 3, 1997, USA Edition, 1997,Edition, 3, USA June , 101 The Fi- The The Fi- The Mo 104 ------

10/07/2008 16:13:24 innovar31.indb 111 für den Euro.” Capital Euro.” den für tral bankerstral the as “custodians of the holy DM.” cen- German the of and Grail Holy a as Bundesbank ticulates disagreement his with the French ar- view of author the the where Glotz Peter by article an upon focus will I discussion,my of purpose the For affairs. what symbolic competence is really about in monetary concreteof examplemore a provide to me allow will generates. This it constraints very circumventingthe for resources symbolic the with provides it how and it, constrains howitlinkage, the sustainconcurs itto text,howa unfoldingplaysofthe bolic linkage out in sym- a ofembeddedness the how discuss will Now,I quences respect this in upon the monetary sphere. conse- important have can large atsphere economic etary game. Rather, the symbolic embeddedness of the mon- the embeddednessof symbolic immediatemost given symbolic linkage does not only depend upon the a ofavailability the havespheres. thatshown I Then, semanticdifferent to affairs monetary of linkage ous 110 109 108 107 106 since time immemorial. time since lasted has dynasty–that aristocratic an mething–like their lizing social function it intoby transfiguring so- theApels. pluralizationThe theeffect has of natura- Stoltenbergs, the Waigels, dynasties–the royal or tic aristocra-wayswouldonesamewith the do Glotzin by pluralized Apel–are nisters–Waigel, Stoltenberg, desbank–Tietmeyer–andFinanceMi- German theof Bun- the Presidentof the of persons The the country?” rule actually Tietmeyers the “Do monarchy. of discus- field the symbolic the onto recasting affairs monetary about sion by up opens article Glotz’s Prowse, Michael. “The power behind Greenspan’s throne.” throne.” Greenspan’s behind power “The Michael. Prowse, Calle, Marie-France. “Le mark impérial.” impérial.” mark “Le Marie-France. Calle, “Karl Otto Pöhl: Le Roi Mark.” Mark.” Roi Le Pöhl: Otto “Karl Heemann, Karen and Hubert Spegel. “Die Herren des Geldes.” Focus Geldes.” des Herren “Die Spegel. Hubert and Karen Heemann, Die Woche Die D-Mark.” der Wayne “John Peter. Glotz, Die Welt Die Draht.” Bonner am “Nicht Claus. , 1998, Nr. 2; Dertinger, Haute Finance Haute Le Figaro Le , Fall 1989,, Fall Nr. 4. , October 3, 1995. , October , September 1, 1995, p. 3. , September 106 Financial Times Financial an “imperial D-Mark.” “imperial an example, often represented currency is national as the German For terms. royal in affairs monetary sents repre-that banking central moneyand on discourse public in practice widespread more the against sible implicitly uses at point of this article his appears plau- Glotz that aristocracy and royalty of realm the and sphere monetary the between linkage symbolic The ralization. plu- from result that attributes aristocratic the of ty would taint status his and undermine the authentici- were outman a party of this calculative opportunism, zation effect pursued by the pluralization. If Tietmeyer because it reinforces the naturali- important cation is qualifi- This milieu. social but out of opportunism, of Glotz then says not that Tietmeyerman out a party is banker. And indeed, the metaphor of Thomas Bec- Thomas metaphorof the indeed, And banker. central German a imagine they when mind people’s of background the on looms which Beckett, Thomas of persona the with matcheswell very that fatalism of form grounded religiously a to points yone.”This Tietmeyer’sint an-fearnot do and motto:right “Do po- this at adds Glotz religion. of that to royalty of field symbolic the from generally moretherefore and status, religious his to status Tietmeyer’saristocratic is crucial to effect a smooth discursive from transition his question character.This Westphalian from tough-skinned or Catholicism his from resulted reaction Tietmeyer’swhether wonders important”–Glotz that Tietmeyer’s accident–“Iting notthe on comment am repor-event.After this treats Glotz particularly howinteresting is It happened. had nothing if as office his atTietmeyer stayed day thataccident, shocking Fraktion in a failed attempt.assassination Despite the Armee Rote the by work to way his on 1980s the of TietmeyerMinistry,Finance targetedendwas theat the of Secretary State as position his to Due tration. adminis- public German the within status his with do to has continues, Glotz Tietmeyer’s aristocracy, solemn. particularly of the D-Mark.” the of “Lords the are Bundesbank the of Council Bank tral are represented as “the King Mark.” King “therepresented are as “throne” 1993, Nr. 5. , February 24, 1992; Huebner, Rainer, “Krönungsmesse “Krönungsmesse Rainer, 1992;Huebner, 24, February , 110 and the ceremony of “enthronization” is is “enthronization” of ceremony the and , September 20, 1979. , September 108 The Presidents of the Bundesbank Bundesbank the Presidents of The 107 The members of the Cen- the of members The ar va o n n i revista 109 They sit on a on sit They journal 10/07/2008 16:13:26

111 INNOVAR economía y desarrollo innovar31.indb 112 112 innovar economía y desarrollo 03/ 1991, 7-8. pp. the Deutsche Bundesbank at the Scientific Colloquium in occasion of the 65 the of occasion in Colloquium Scientific the at Bundesbank Deutsche the Zeitung royalty is a typical symbolic transition in public dis public in transition symbolic typical a is royalty of that into martyrdom of figure the of nesting The wonders Glotz whether when later Tietmeyer keep will paragraphs to the traditio two just up come kett rev. i is observes that the Governor of the Italian central bank journalist German a example,for d’Italia, Banca the course on money and central banking. In an article on mankind. and Power a salvific themeaning in role of mediator between the haveto recognized been has royaltysphere and gious reli thecued rescuer has the ofsalvation orof figure tion. Structurally speaking, throughout the history the well-establisheda connecfromcultural sacreddraws manyways.royalty thetransitionin toFirst, from the it sustains that backgroundcultural a against occurs it because effective is sphere religious the to royalty discursivespheresuchtheAgain,a fromtransition of Kohl terms of in Europe’s interest. Helmut with along think to able be will he whether or independence and rigor of line Bundesbank’s nal 112 111 115 114 113 German central bankers and Thomas Beckett is a re a Beckett is Thomas bankersandcentral German self-sacrifice.and Finally, associationthe between the readinessacceptto self-denial, his signals humiliation believerthe which by tradition Christian the within not that important” is part of a cultural script available by the members of the Bundesbank themselves. tral andbanking has even been directly acknowledged currentpublicmoneycenontheme discourse andin between persona his and that of Thomas Beckett. juxtapositionimplicitauthenticitythe the increaseof to geared is whichFazio’s faith,referencereligious to the strengthenedhowever,by case, is guaranteesuch oenr ai i cpbe f eitn pltcl pres political resisting of capable is Fazio Governor ers will behaveers will like Thomas Beckett. bank central that guarantee a as used is martyrdom Sebastian pierced by arrows.Again, the acceptance of Saint exhibits that Fazio’s office in painting a to fers re warner,”uncomfortablehe of role the from away shynotCatholicdoes faith,“Fazio, strongly rooted in that observing After martyrdom. of idea by the evoking so does he And religion. of field the into course dis steers journalist policy,the monetary upon sures

Die Woche Die D-Mark.” der Wayne “John Peter. Glotz, See Van der Leuuwe in Jean-Pierre Sironneau, Sironneau, Jean-Pierre in Leuuwe der Van See Fischer, Heinz-Joachim. “Nicht die Tuer zuschlagen.” Tuer zuschlagen.” die “Nicht Heinz-Joachim. Fischer, Piller, Tobias. “In Italien was the Zentralbank bisher Kaderschmiede fuer die Elite unter den Oekonomen,” Oekonomen,” den unter Elite die fuer Kaderschmiede bisher Zentralbank the was “InItalien Piller,Tobias. Issing, Otmar. “Geldpolitik im Spannungsfeld von Politik und Wissenschaft.” Speech delivered by the Member of the Direktorium of of Direktorium the of Member by the delivered Speech Wissenschaft.” und Politik von im Spannungsfeld Otmar. “Geldpolitik Issing, like nn

, February, 17,, February, 1999, p. 31. a

ovar. monarch. V ol. 18, 31, No.

Yet, 111 Second, the statement “I am am statement“I the Second,

when

E it N

ERO comes 113

A In this specific In this JUN

to (Paris: Mouton, 1982), 38-40. Mouton, pp. (Paris: politiques religions et Sécularisation

argue IO , September 1, 1995, p. 3. , September D Frankfurter Allgemeine Zeitung Allgemeine Frankfurter 112 E

2008 that ------

aphoric association with the Biblical pronouncements. criteria within a symbolic field that supports their met Maastricht the established has unification monetary of the exegesis “difficult the Maastrichtremindscriteria the reinterpretationof the that just observesauthor An ferred. I lines the along reversal discursive cessful suc a ofexample clear providesa textfollowing The therefore it alegitimate is option. discursivethe traditionand practices Christian theof but literally!” will. and pride rather a genuine than desire to follow God’s ambitionown product his the wouldof be costs all at which Tietmeyer discerns that looking for ‘martyrdom’ Tietmeyer’s strugglewithin a conscience atendthe of productof the as martyrdom accept renounceto the haveframed couldexample,Beckett. heFor Thomas Tietmeyer/ofsanctity the ofground very the on dom martyr avoidanceof the justify to needwould Glotz of Thomas Beckett. In order to recover such an option, constitutivea is personadimensionthe of martyrdom longeravailable.noto Readiness is option This dom. undergomartyr to needTietmeyernot that does say suddenly cannot he Beckett, Thomas a Tietmeyer is by the discursive rules of the field. If Glotz suggests that bound argument,are the trajectoryof the upon tions suchfield,a and therefore any reversal of the expecta intoing the symbolic field of religion, any retreat from Once Glotz’s narrative transfers German central bank straints it sets. con very the neutralize to means the offer also can it how and linkage, symbolic a undermining, at case can constrain an attempt at establishing, embeddednessor like in this symbolic how show to text Glotz’s of part final this use will I rigorism.orthodox his aback dent of the PresiEuropean Community, as he was able office to push took he when servant, civil German conservative a was Hallstein Although Hallstein. ter tinues that Tietmeyer should be as courageous as Wal Tietmeyer.con ofGlotz case the in required” not is Beckett,Thomas with“today unlike that, martyrdom suggestsauthor the text,Glotz’s of part final this In 114 This kind of reversal is well available within within available well is reversal of kind This th Bible Birthday of Prof. Dr. h.c. Norbert Kloten, Stuttgart, 15/ Stuttgart, Kloten, Norbert Dr. h.c. Prof. of Birthday : one may read the Holy Scriptures anyway 115 In other words, the process of European , Novermber 18, 1996, p. 14. , Novermber Frankfurter Allgemenine Allgemenine Frankfurter ------10/07/2008 16:13:26 innovar31.indb 113 recapitulate my argument. foranalysis thestudythis ofstability culture andthen Deutscheimplicationsdrawthe Bundesbank,of will I the of andD-Markmacro-embeddedness the tural of cul the recovering after and affairs, monetary man After outcarrying a neo-Durkheimian analysis of Ger dependent central banking. that is crucial in the practice of the so-called art of in competencesymbolic constitutesa embedded be can or are affairs monetary which within fields semantic and the restrictions on linkage that are inherent in the linkage foropportunities the seeing of capability The generally and that apply down to the monetary sphere. attributes that characterize the economic sphere more alone but affairs etary rather because ofstructuralthe featuresstructuralmonthe cultureof because norof national given a within affairs monetary of dedness embed the becomesavailableofbecausejustage not link symbolic othersemanticspheres.a times, Other to sphere monetary the simultaneously linking after linkage that is not yet available becomes available only beddedness of monetary affairs. Some times a symbolic macro-emcultural the uponwords, other in or,fold of the cultural field which within monetary un affairs topographythe upondepends sphereferentsemantic dif a into banking central and money shift can that linkage symbolic a of availability the conclusion, In had resulted from the use of that very talk. that constraint circumventa to Bible the about talk use author can the unchangeable. Still, are they that expectation the creates association an such turn, In The German legislatureonceconsidered pos German has the The Conclusion4. the public sphere and that the central bank be required in dramatizedpossibilitythat be The monetary affairs (Wahlig 1998: 52). public and scrutinyto conflict institutionalsubjectingthe matter the on opinion public mobilizing imply would turn in which conflict,” the of ‘dramatization’ a effect to liberty at be would involved parties “the that and conflict of event the in word last the have sue. a As result, the Parliament accepted that it would is an suchregulate to rule institutional valid nerally soon acknowledged that it is impossible to design a ge has it butBundesbank, the GovernmentFederaland principlebetweenthe of conflict regulating of sibility 116 tempted to embed such possibility within the political economy literature, this article seeks to do it with relation to a more sociologi more a to relation with it do literature. to cal seeks article this literature, economy political the within possibility such embed to tempted Tognato (2005) has already hinted at the possibility that the monetary game may turn into a morality drama. While that article at article that While drama. a morality into turn may game monetary the that possibility the at hinted already (2005) has Tognato ------tentlymoralitydrama. intoa prone turn to lic opens up the possibility that monetary be laaffairs to maneuver to gain legitimacy before the general pub no h iel of ideal the into rooted is Rather,itstyle. policy a ortechnique not a just continued–is ethos–she an Such interests.” lar particu than higher itself good sees a representative of it the as politics, pluralistic of pressures the to development.immune Largelypolitical of age earlier an of ideals the incorporates Bundesbank the spects re many “in thatobserved she as it into tap to tried (1991:Kennedy 4) affairs. monetary of logic cultural overlooked the traditionally have scholars Monetary cultural macro-embeddedness of monetary affairs. the upondepend crucially will shift a such of sibility onto centersymbolicthebanking ofsociety. pos The and its supporters needwill to shift money and central bank central theidentity, and morality over game a into game monetary the transform to order in that, perspective on money and central banking will suggest identityverythesociety itself.of neo-Durkheimian A foundations of society and even more fundamentally to moral thechallenge independenceto itsa lenge to as chal a frame attemptto will bank centralwords, the prah o h suy f oeay far. n such On affairs. monetary of study the to approach neo-Durkheimian a one one–of only symbolic addresseddimension–the have I paper this in said, That one core dimension of aworking stability culture. into identity politics. This–I would suggest–constitutes matter. In other words, it transforms monetary politics identity an and moral a intothem turns and them es sacraliz profane, the above affairs elevatesmonetary turn in society,which ofcenter symbolic the to fairs af monetarydisplacement of a implies legitimacy for rules happens.this My paper has shown that the quest tantly through which channels and according to which how,impor mostquestion andgeneralis public.The beforethe legitimacy its into feeds this and service il Bundesbankthe embodiestraditional the ideal civof that say to sufficient not is It process. monetary the downhow such cultural elements play out throughout pin to us help however,not Kennedy’sanalysis,does whole.the interest ofethical the forstood class”that “universala of rank the to servants civil German ed elevat has Hegel since that tradition service civil a (Kennedy 1991: 2-3, 10-12).interests particular over Furthermore,good publicit rests uponthe enhance to supposedstateare thatthe of instruments the to nity traditionallybestowed has thatdig special theory cal Rechtstaat n it Gra politi German into and ar va o n n i revista 116 In otherIn journal 10/07/2008 16:13:26 ------

113 innovar economía y desarrollo innovar31.indb 114 114 innovar economía y desarrollo A Bibliographical references money onto the symbolic center of society. Further re displacingof possibility restrictstheenables ithowor haveshownI and embbeddedness monetaryaffairs of macro- symbolic the upon focused have I ground, a rev. i erh il ed o drs te efraie condi performative the address to need will search A A A A B B A C A C C C C lexander, lexander, lexander, lexander, lexander, lexander, lexander, lexander, lexander, lexander, lexander, lexander, aker, W. & W. aker, lexander, lexander, elk, elk, aputo, aputo, han, han, ladis, ladis, onnerton, onnerton, ollins, C der ( der U studies studies logy: Cultural studies Cultural logy: ge ge L. L. tegy. stra and ritual between performance cial ty ty n Cletv Identity Collective and ge ge 29-90). 29-90). pair: pair: and and G mance 35 (2006). (2006). of of A Psychology money. of meaning tion, cultural pragmatics, and ritual. ritual. and pragmatics, cultural tion, logie, discourse. mythical bridge: bridge: a global age. age. global a in democracy century twenty-first and im N gy P movement. student C C 383-409). (pp. Durkheim to panion bridge: bridge: can Journal of of Journal can R E nn hilip hilip ngeles: ngeles: M ultural ultural niversity niversity ambridge: ambridge: enter displacement in the 1989 the in displacement enter ew ew W & W. . iesen & iesen . (1999). R , 14 P M (6), 678-693. J U U M . . (1979).. ress. . oney. S S niversity niversity niversity niversity E J s ( ast Y J J J J J J 25 D P ovar. I (3), 337-356. P eptember 11. eptember . (2005). (2005). . . et al. ( . Durkheimian sociology: Cultural Cultural sociology: Durkheimian d.), . S . ork: ork: . . . & . n (pp. 91-114). (pp. J . (2001). . erformance, counter-performance, counter-performance, erformance, . (1989). . C C C C C C C mith ( mith Social performance: Symbolic ac Symbolic performance: Social imerson, imerson, p. 1-21). (pp. C , 251-266. J S . ( ambridge ambridge ambridge ambridge . (2006). (2006). . . (1988).. . (2006). (2006). . ., U M . S ambridge: ambridge: E J ociology. ociology. S American Behavioural Behavioural American P E R niversity of of niversity G , 11 lne W (1990). W. elanie, mith, mith, . L. L. . ds.), C tructural and symbolic citizens: citizens: and symbolic tructural ress. d.). (1988). C R outledge. iesen, iesen, E . P P E ambridge ambridge eview of the bankers. bankers. the of eview I ds.). (2004). S , 35-67. n A V B ress. ress. The Cambridge Com Cambridge The ds.), M ociology On Religion On lexander, lexander, How societies remember societies How ol. 18, 31, No. eyond solidarity? solidarity? eyond J P S ast ( ast J R effrey effrey C . (1996).. F (pp. (pp. performance ocial . (1992). . U U rom the depths of des of depths the rom N eligious eligious B ultural pragmatics: pragmatics: ultural I I Zeitschrift fuer Sozio fuer Zeitschrift C International International niversity niversity niversity niversity n . Journal of Economic Economic of Journal n C . & . ew ew E N ambridge: ambridge: C . ambridge ambridge J Durkheimian socio J ds.), ew ew U alifornia alifornia . B , 85 C effrey effrey M Y niversity niversity C erkeley and Los Los and erkeley . ork: ork: ast, ast, Cultural Cultural Trauma B R . Y A T S . , 190-194. . London and and London . ork: ork: A isk society as as society isk S lexander and and lexander he he ociology and and ociology P P G lexander, lexander, ocial perfor ocial T J ress. ress. C C ee & iesen . L. ( L. . he sacred sacred he S P ambridge ambridge . C C S U ociology ociology ress. C S D P ambrid ambrid cientist A niversi E ociolo hinese hinese Ameri urkhe ress. lexan E C C N ds.). am am S ERO B o J ------. . , .

A C C D D G D E G G G D G F E G G oster, yermann, yermann, dles, L. L. dles, rump, rump, rump, esmonde, W. esmonde, ouglas, ouglas, JUN urkheim, urkheim, ouglas, ouglas, ilbert, ilbert, ilbert, ilbert, ilbert, oux. oux. iesen, iesen, arland, arland, iesen, iesen, London: London: ney. rican Bahavioral Bahavioral rican mond mond thropology oe, tt-aig n nation-build in ing and state-making money, ( don: don: future the and S tock. Y future the and present the rencies ety, space. and time in ey B ligious life ligious Franco S B new economic criticism: Studies at the in the at Studies criticism: economic new Woodmansee and and Woodmansee and the formation of African American American African identity of formation the and ty ty ty C age. axial German a in identity Collective versity of of versity of timacy A Melanesia modernity: modernity: ciety J E ork: ork: kn & tkins tates and money: The past, the present present the past, The money: and tates erkeley: erkeley: oulder, oulder, pain: The transition to democracy after after democracy to transition The pain: ambridge: ambridge: R . T IO E E ds.), E T P P B . (1992). J B D . . (2005). M D 34 (1981). . . & . M (1999). . ress. ress. . (1999).. . (1998). . . . (2004). (2004). . N E . (1990).. J . (1998).. R D . & . (1967). . F O R . (1999). . C F ew ew . (1995). outledge. (3), 357-388. Nation- . ree ree . H (pp. 25-46). London: London: 25-46). (pp. (2001). . xford: xford: irth ( irth anada. anada. E A C R C elleiner, elleiner, C 2008 H P Y aron, aron, W. (1982). U ambridge: ambridge: J . p. 214-231). (pp. outledge & outledge ambridge: ambridge: (pp. 119-145). London: London: 119-145). (pp. o.: P ork: ork: ittsburgh ittsburgh . (1962).. M . M niversity of of niversity S K C E C ress. C h peoeo o money of phenomenon The elanesian currencies. currencies. elanesian tate and local currencies in in currencies local and tate R F aren aren oney oney as a system. ritual Intellectuals and the Nation: Nation: the and Intellectuals P Punishment and Modern Modern and Punishment d.), Symbol and ritual in the New New the in ritual and Symbol ommon cents: situating mon situating cents: ommon O ambridge ambridge S ash, check or charge? charge? or check ash, orging a national currency: currency: national a orging - - of national currencies national of The elementary forms of forms re The elementary bis ( obbins rm rup t Trauma to Triumph From P aradigm aradigm I I F xford xford tates tates and money: The past, n n rimitive rationing. rationing. rimitive S ree ree Cultural trauma: trauma: Cultural Themes in economic An economic in Themes E G E cientist E . ( . M . od we trust? trust? we od . Magic, myth, and mo and myth, Magic, central asocial as performance. banking and money approaching of direction in analysis the push will This effective. become displacement such allow that linkages symbolic the which under tions P P G E U C C . K F ress. ress of of ress ds.). (1999).ds.). Economy and and Economy ilbert & ilbert niversity niversity ambridge ambridge O ambridge ambridge C ields ( ields egan egan E P U alifornia alifornia steen ( steen ds.), ublishers. , 35 niversity niversity Risk Risk and culture P of national cur national of ittsburgh: ittsburgh: P R (6), 669-677. G T aul. outledge. E Money and and Money rans.). lencoe. P E . P ress. T ds.), H U U P ress. he legi he S I elleiner elleiner niversi niversi Nation- n ress. lavery lavery T . Lon . I Ame S I n avis R N n U The The oci S ay ew ew ni M D o ------. . . . . H H H H H H H H H K K J K K acobs, acobs, ennedy, ennedy, rueger, rueger, norr, norr, ewitt, ewitt, abermas, abermas, elleiner, elleiner, elleiner, elleiner, elleiner, elleiner, ewitt, ewitt, iatt, L. L. iatt, onolka, onolka, ( R 114-127). (pp. economics and literature of tersection ioil urnis n te Nation- the and currencies ritorial phy 17, paper Working S S identities. national P B money paper on women of ges imagination in the paper currency of the the B of currency paper the in imagination and and , 52 Critique German New DM-burghers. angry of nation unified ty–A rrencies: rrencies: re futu the and present the past, The money: don: don: S Mankind illusion. an of ture system monetary international the in Bank Central B 1272. an object of attachment: attachment: of object an ican Journal of of Journal ican rsrcue: h vrul oite o fi markets. of nancial societies virtual The crostructures: dian Journal of of Journal dian markets. financial in relations cial ciology cess phobia. phobia. cess (pp. (pp. 3-16). psychoanalysis and in psychotherapy reality and symbol a as Money taboo: C E C olitical identity and the identity olitical tate in in tate ritish ritish ritish ritish uche nach ihrer Identitaet ihrer nach uche cientist, eck. V outledge. V

. d.) R . (pp. 97-116). (pp. currencies Lon national of R . (1994).. K (1999). . , 18 D H E E . (1996).. K E . (1969). . E E . & E R (1986). . . (1991). . (1987). . . (1997). & . J eoe n Byn EMU Beyond and Before . (2002). . (1999). . N (1998). . outledge. M , 107 . (1991).. . London: . London: , 309-339. H E B ew ew useum useum N elleiner ( elleiner mpire, 1800-1960. 1800-1960. mpire, 41 ruegger, ruegger, M N B orth orth ew ew ruegger, ruegger, Y onetary space and the the and space onetary Beauty and the banknote: Ima banknote: the and Beauty (4), 905-950. , 1409-1436. ork: ork: A C The Bundesbank: T I distant view? view? distant One nation, one money. one Ter nation, One n ivil society and crisis. crisis. and society ivil Die Bundesrepublik auf der der auf Bundesrepublik Die Y otemism tomorrow: tomorrow: otemism M S A H O ork: ork: Y P D ny sces ad suc and success, oney, N ociology merica. merica. B P S et again: again: et soiiig ertra cu territorial istoricizing American Journal of of Journal American ne money, one people? people? one money, ne ress. E . U ational currencies and and currencies ational inter. runner & runner O ociology ds.), K . (2000). slo, slo, R U American Behavioral Behavioral American rueger ( rueger outledge. (2002). . E Nation- ARENA E , 25 , 84-101. Political Geogra Political uro. uro. xploring postso xploring , 7, 83-93. , G . M T 101 erman identi erman (2), 141-168. E I M I asel. I n he he market as magery and and magery n d.), unich: unich: S Germany’s Germany’s G P . 5, 1238- (5), E . London: London: . . London: London: . tates and and tates . oa mi lobal . The last last The C T N G rowley rowley Cana Amer he fu he S ation- ilbert ilbert C tate S . H o ------. . 10/07/2008 16:13:27 innovar31.indb 115 Lepsius, m. r. (1989).so- Lepsius, national des erbe das (1999). a. ku, Lincoln, b. (1989). b. Lincoln, hl, . (1975). e. shils, (2000). b. schwartz, Schulze, H. (1992). German unifi cation in the the in unification German (1992). H. Schulze, (1997). L. rappaport, in g. m. (1998).pointon, nationalism. and money marsh, d. (1992).d. marsh, simiand, f. (1934). La monnaie, réalité sociale. sociale. réalité monnaie, La (1934).f. simiand, money. of anthropology the (2006). b. maurer, (1998). W. d. ingle, & c. marvin, ches. in m. haller (ed.), haller m. in ches. rei- ‘grossdeutschen des chfolgestaaten na- der kultur politische die und zialismus sphere frankfurt am main: campus. main: am frankfurt sity of chicago press. chicago of sity memory of forge national dies Review dies history. european of context press. university relations German Jewish- and identity Memory, Holocaust: press. university manchester manchester: 254). (ed.), cubitt, 36. sity press. sity society of tion presses universitaires de france. de universitaires presses paris: 1-86). (pp. sociologiques Annales press. chicago Macrosociology in Anthropology of Review Annual press. university flag American the and rituals Totem Nation: fithe and ce books. york: times . aldershot: ashgate. . aldershot: Narrative, Politics and the Public Public the and Politics Narrative, Center and periphery. Essays Essays periphery. and Center , 15 The most powerful bank powerful most The Discourse and the construc- the and Discourse p. 229- (pp. nations Imagining . new york: oxford univer- oxford york: new . . cambridge: cambridge cambridge cambridge: . , 7-20. Jews in Germany after the the after Germany in Jews Abraham Lincoln and the the and Lincoln Abraham . cambridge: cambridge cambridge cambridge: . . chicago: university of of university chicago: . Kultur und Nation und Kultur . chicago: univer- . chicago: German Stu- German lo sacri- Blood , 35 . new new . 15- , . tiryiakian, e. a. (2005). durkheim, solidarity and solidarity e. a. (2005). durkheim, tiryiakian, ma- to durkheim from (1998). a. e. tiryiakian, spillman, L. (1997). L. spillman, the introduction: (2005). a. jeffrey, & p. smith, smith, p. (2003). narrating the guillotine: punish- p. guillotine: smith, the narrating (2003). tietmeyer, h. (1998). h. tietmeyer, and totemism (1965). W.h. e. stanner, religion, iml g (1978). g. simmel, smith, p. (1996). executing executions: aesthet- executions: p. (1996).executing smith, Smith, P. Smith, confl(1991). and Codes ict. philip smith (eds.), smith philip and 11. alexander c. jeffrey september in press. versity 44-65). uni- cambridge new york cambridge: and (pp. studies Cultural sociology: (ed.), alexander c. jeffrey in revivals. religious as revolutions nagua: main. Kreditwesen de crediticia cambridge university press. university cambridge 1-37).(pp. cambridge: to Durkheim panion Com- Cambridge The (eds.), smith philip & alexander c. jeffrey in durkheim. new ory, Culture and society and ory, Culture as myth and ment symbol. technology gus and robertson press. robertson and gus Australia in man Aboriginal berndt g. c. & m. r. in symbolism. press. university cambridge cambridge: society ritual. punishment capital of narratives problematic the and identity ics, ebn, 44 bun- desbank, deutsche del presidente del curso Konfl offene ikte und Abhängigkeiten spürbare Erwartungen, Erfüllte sellschaft. society paul. &kegan routledge London: , 25 , 20 , 103-138. , 235-261. , noviembre 6, frankfurt am am frankfurt 6, noviembre , th Nation and commemoration and Nation reunión sobre la política política la sobre reunión Zeitschrift für das gesamte gesamte das für Zeitschrift h piooh o money of philosophy The Währung, Banken und Ge- und Banken Währung, The Cambridge com- Cambridge The , 20 , 27-51. sde: an- sydney: . Durkheimian Durkheimian Theory and and Theory Theory and and Theory (eds.) . dis- . The- , . . Zelizer, V. (1999). Offi cial standardization vs. vs. standardization Official (1999). V. Zelizer, Wagner-Pacifi ci, R. (1986). R. Wagner-Pacifici, zelizer, v. (1979). Wolf, e. (1958). a of mexi- the virgin guadalupe: bun- the between relations (1998). b. Wahlig, zelizer, v.(1994).zelizer, Tognato, C. effi (2005). Is institutional in ciency in- zelizer, v.zelizer, (1985). zelizer, v. (1996). payments and social ties. ties. social and v.(1996).payments zelizer, zelizer, v. (2000). the purchase of intimacy. intimacy. of zelizer, v. purchase the (2000). zelizer, v. (1989). the social meaning of money: money: of meaning v.social (1989).zelizer, the rrencies future the and present the helleiner e. (eds.), and gilbert e. in money. uses of americans’ in differentiation social (42), 117-134. tes Sta- United the in insurance life of lopment Folklore symbol. national can cmillan. Bundesbank (eds.) pringle r. and frowen s. in government. federal the and desbank press. play ty tive matter? matter? tive communica- a banking central dependent press. university cambridge bridge: cam- 305-321). (pp. Durkheim to panion ciological Forum ciological new york: basic books. york:new basic & social Inquiry & social ciology monies. special children books. york: basic of value social changing . new york: columbia university press. university york:. new columbia Nation-states and money: The Nation-states past, , 95 . chicago: university of chicago chicago of university chicago: . , 71 (pp. 82 - 96). London: routledge. -96). London: 82 (pp. , 342-377. , 34-39. Morals and markets: The deve- markets: and Morals Pricing the priceless child: The The child: priceless the Pricing The social meaning of money of meaning social The (pp. 45-55). houndmills: ma- houndmills: 45-55). (pp. Cuadernos de Economía de Cuadernos ar va o n n i revista , 25 , 11 American Journal of so- of Journal American (3), 817-848. , 481-495. Journal of American American of Journal h mr morali- moro The of national cu- national of journal Inside the the Inside . new new . Law Law , so- 24 10/07/2008 16:13:30 .

115 INNOVAR economía y desarrollo