Lockean money, indigenism and globalism

Canadian Journal of Philosophy

Volumn 29, Issue , 1999, Pages 31-53

  Zack, Naomi ^a  

^a NONE

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EID: 79251633761     PISSN: 00455091     EISSN: 19110820     Source Type: Journal    
DOI: 10.1080/00455091.1999.10716829     Document Type: Note

References (44)

1. There are several reasons why scholars and activists now find ‘indigenist’ preferable to ‘native.’ The term ‘native’ may be too broad insofar as anyone born in a nation could be called ‘native.’ If ‘native’ is used to specifically designate pre-contact natives, it carries derogatory connotations imposed by invading groups. The term ‘indigenist’ seems to best connote the land-based ethos of many contemporary inhabitants of dependent sovereign states. (See note 39, below, and the discussion of land-based economic issues in Section III of the text of this article.)
2. Rogers, J., and Creighton, W., eds. Locke's Philosophy: Content and Context See James Tully, ‘Rediscovering America: The Two Treatises and Aboriginal Rights,’ in ed. G.A. Peden (Lewiston, NY: Edwin Mellen Press, 1995). (Oxford: Clarendon Press, 1994); Naomi Zack, ‘Locke and the Indians,’ in The Social Power of Ideas, ed. Yeager Hudson
3. Canadian Journal of Philosophy John Douglas Bishop, ‘Locke's Theory of Original Appropriation and the Right of Settlement in Iroquois Territory,’ 27:3 (September 1997): 311–37.
4. MacPherson, C. B., 1962. The Political Theory of Possessive Individualism Oxford: Oxford University Press. MacPherson generally interprets Locke as having projected seventeenth-century English market conditions onto the state of nature. As will soon be evident, I agree with him that Locke located money in the state of nature. But the question that interests me in this paper is what Locke means by money. I will show in Section II that Locke's ideas about money in seventeenth-century England rest on the same principles of natural law that apply in his description of the state of nature. The philosophical examination of these principles means that Locke did not so much project conditions of his time onto a presumably earlier state of nature; rather he thought that the same principles governed both the state of nature and seventeenth-century culture. See 197–222, 233–35.
5. Two Treatises of Government References and quotes are from John Locke, ed. Peter Laslett (Cambridge: Cambridge University Press, 1991).
6. 1996. Bachelors of Science: Seventeenth Century Identity, Then and Now Philadelphia: Temple University Press. See Naomi Zack, 194–97.
7. In Euro-American terms, this would be the position of ‘deep ecology,’ although respect for the intrinsic worth and right to be left alone of non-human natural entities has been an integral part of cultural practices and beliefs among indigenous people for eons.
8. 1980. The Death of Nature New York: Harper and Row. John Ray, the naturalist, writing in 1691, believed that God had provided enough gold and silver to make trade possible. See Carolyn Merchant, 238, 246–48.
9. 1981. Theory and Practice of Money 12London: William Heinemann Ltd. On the gold standard and its demise, see: Jennie Hawthorne, 191–95; Jack Weatherford, The History of Money (New York: Three Rivers Press, 1997), chaps. 7–12, esp.
10. Two Treatises A general example of Locke's reliance on natural law in this way is his claim that men have life, liberty, and property according to natural law and that their consent is therefore required for the existence of civil government (see in particular: II, VIII, 119–22 and II, XI, 134 and 138).
11. Locke on Money Vol. 1, 1–39. For biographical discussion of Locke's political and economic posts and his involvement in monetary policy, see John Locke, ed. Patrick Hyde Kelly (Oxford: Oxford Clarendon Press, 1991), vol.
12. Locke on Money As in the discussion of Locke's economic posts, I am here mainly relying on Kelly's See 39–67. See also Sir John Craig, Newton at the Mint (Cambridge: Cambridge at the University Press, 1941).
13. Some Considerations of the Consequences of the Lowering of Interest and Raising the Value of Money Vol. 1, John Locke, in Locke on Money, vol.
14. Further Considerations Concerning Raising the Value of Money Vol. 2, in Locke on Money, vol.
15. Further Considerations Concerning Raising the Value of Money Wherein Mr Lowndes's Arguments for it concerning An Essay for the Amendment of the Silver Coins, are particularly Examined, 1695 Vol. 2, 418–19. in Locke on Money, vol.
16. Locke on Money Vol. 2, 367–69. John Locke, ‘A Paper Given to Sir William Trumbull Which was Written At His Request September 1695,’ in vol.
17. Locke on Money 369 Locke believed that the solution to the currency shortage and the crimes that caused it were the same. “There is therefor no sure way to put an End to Clipping but by makeing Clipping unprofitable and so it will be as soon as your money goes only for as much as it weights.
18. Some Considerations Vol. 1, 323–28. For Locke's free market views, see in Locke on Money, vol. and ‘Guineas,’ in Locke on Money, vol. 2 363–64; for Kelly's analysis of the immediate situation of depressing the guinea price, see Locke on Money, vol. 1 33–34
19. Locke. Some Considerations Vol. 1, 233 in Locke on Money, vol.
20. Some Considerations Vol. 1, 233–34. in Locke on Money, vol.
21. Murray, H., ed. The Oxford English Dictionary: A New Dictionary on Historical Principles See ed. James A. (Oxford: Oxford Clarendon Press, 1933), s.v. quantity, intrinsic
22. Locke. Some Considerations Vol. 1, 213 in Locke on Money, vol.
23. Locke. Some Considerations Vol. 1, 212 in Locke on Money, vol.
24. Some Considerations Vol. 1, 267–69. See in Locke on Money, vol., and Further Considerations, in Locke on Money, vol. 2 420–22. Locke generally does not seem to have considered that credit, in the form of guaranteed promissory notes or bills of exchange, could and did function as money in circulation: For noething will pay debts but mony or monys worth, which three or fower lines writ in paper cannot be, for if they have an intrinsick value and can serve instead of mony, why doe we not send them to market instead of our cloth lead and tin? (Locke, Final MS draft of Some Considerations, in Locke on Money, vol. 2, 521)
25. 1994. Mercantilism: The Shaping of an Economic Language London: Routledge. See Lars Magnusson, esp. on Locke, 128–30.
26. Locke. Some Considerations Vol. 1, 231 in Locke on Money, vol.
27. 1989. Clipped Coins, Abused Words and Civil Government: John Locke's Philosophy of Money Vol. 1, 39–67. NY: Autonomedia: (Brooklyn. For economic and historical explanations of these events, see: Constantine George Caffentzis, 17–44; Locke on Money, vol.
28. Locke. Further Considerations, Locke on Money Vol. 2, 428–55. vol.
29. Locke. Further Considerations, Locke on Money Vol. 2, 410 vol.
30. Locke. Further Considerations Vol. 2, 410–25. in Locke on Money, vol.
31. Locke. Further Considerations Vol. 2, 415 in Locke on Money, vol.
32. Locke. Further Considerations Vol. 2, 416 in Locke on Money, vol.
33. Locke. Some Considerations Vol. 1, 223–24. in Locke on Money, vol.
34. example, S., “ Herbert Frankel on the issues introduced by John Maynard Keynes, in Frankel ”. In Money: Two Philosophies: The Conflict of Trust and Authority 71–72. Twentieth-century fiat money is not backed up by precious objects but merely proclaimed to be money by government decree. However, there is an uncanny inversion between Locke's explanation of the intrinsic value of gold and silver and what fiat money apologists have said about intrinsic value. Locke claimed that gold and silver money has intrinsic value because it is pure quantity, whereas the chartalists have claimed that no money has intrinsic value because all money is pure quantity. Thus, the real issues in both cases have been whether certain equations ought to be changed or not. In Locke's day it was an issue of whether the equations between units of precious metals and money ought to be changed; in our century it has been a question of whether the equations between units of money and units of goods—which is to say, prices—ought to be changed by changing the money supply. (For discussion of these issues, see for [Oxford: Basil Blackwell, 1977], 57–85, esp.)
35. 1997. Gene Wars: The Politics of Biotechnology New York: Seven Stories Press [The Open Media Pamphlet Series]. Loss of land because the surplus produced on it is not enough to finance other necessities of life or to finance the market value of the land (which is borrowed when the land is mortgaged) could be a case in which farmers do not own their land to begin with, or have miscalculated in putting that ownership at risk. What would Locke have said about farmers in present “third-world” countries who lose land, livelihood, and even life because their governments first allow imports of foodstuffs at cheaper prices than can be offered domestically and can neither compensate the farmers after the imports rise in price nor buy enough imported foodstuffs to feed their populations? For a quick overview on present free trade agreements and their effects on small agricultural producers, see Kristin Dawkins
36. 1997. The Racial Contract Ithaca: Cornell University Press. See, for instance, Charles Mills, 9–40.
37. 1996. “ 12 ”. In Bachelors of Science: Seventeenth Century Identity, Then and Now Philadephia: Temple University Press. Colonialism and the slave trade were well underway before the biological concept of race had been developed. See Naomi Zack, chap.
38. Marxism and Native Americans See Ward Churchill, ‘Introduction,’ 1–16, and ‘Marxism and the Native American,’ 183–203, in ed. Ward Churchill (Boston: South End Press, 1983).
39. Marxism and Native Americans Russell Means, ‘The Same Old Song,’ in 19–33.
40. Marxism and Native Americans Vine Deloria, Jr., ‘Circling the Same Old Rock,’ in 113–36.
41. Marxism and Native Americans Frank Black Elk, ‘Observations on Marxism and Lakota Tradition,’ in 137–57.
42. Black Elk, ‘Observations,’ 144.
43. The Theory of Social and Economic Organization Max Weber, trans. A.M. Henderson and Talcott Parsons (New York: Oxford University Press, 1947), 211–12.
44. This might be easier to do insofar as contemporary Western money no longer has the form of otherwise precious objects, nor purports to represent such objects. Although, even when it was in such such form or symbol, it was unlikely to be as highly valued within indigenist cultures as it was in the West. Thus, Frank Black Elk writes: I mean, consider the implications of a tradition which compels its people to march across half a continent, engage in a major war to steal the land from my people, engage in genocide in order to preserve their conquest, and all primarily so they can dig gold out of a small portion of that land, transport it back across the continent, and bury it again at Ft. Knox! The virulence of the disease Sitting bull spoke of is truly staggering. (‘Observations,’ 145)