Excerpt: Viviana Zelizer, Economic Lives

… people employ money as a means of creating, transforming, and differentiating their social relations. Instead of a single, fungible money that reduces social relations to a thin common denominator, they show us the integration of differentiated monies into the whole range of interpersonal ties. As a consequence, people are constantly creating new monies, and they do so by segregating different streams of legal tender into funds for distinct activities and relations. For example, people regularly distinguish between relations that are short-term or long-term, intimate or impersonal, and broad or narrow in the range of shared activities they encompass. People also mark moral boundaries among categories of money: consider the variable meanings of “dirty” money, “easy” money, or “ blood” money. People often “launder” dubious earnings by making donations to charity or other morally cleansing destinations.

Viviana Zelizer, Economic Lives: How Culture Shapes the Economy (Princeton University Press: 2011), p.89.

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