Published: 2019-06-30

The 2008 global financial crisis – its genesis and consequences. Simmel’s inspirations

Dariusz Prokopowicz
Academic Journal of Sociology
Section: Articles
https://doi.org/10.21697/ucs.7333

Abstract

The article analyzes the causes and effects of the global financial crisis that appeared in 2008 in the context of considerations undertaken by Georg Simmel in the Philosophy of Money. The German philosopher living at the turn of the 19th and 20th centuries described the important role of money in social processes and its impact on shaping social relations. He pointed out the unfair practices in trade that were at the root of financial crises. For this reason, he can be considered a precursor of what is now called ethics and corporate social responsibility and sustainable development, as well as a criticism of excessive market liberalism. In his work, Simmel raised many socio-economic problems, many of which are still relevant today.

Keywords:

socio-economic relations, money functions, global financial crisis, business ethics, state intervention, monetary policy

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Citation rules

Prokopowicz, D. (2019). The 2008 global financial crisis – its genesis and consequences. Simmel’s inspirations. Academic Journal of Sociology, 24(1), 9–17. https://doi.org/10.21697/ucs.7333

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