Sovereignty, Law, and Money: New Developments

Posted: 23 Oct 2019

See all articles by Bruce G. Carruthers

Bruce G. Carruthers

Northwestern University

Melike Arslan

Northwestern University

Date Written: October 2019

Abstract

Money has remained closely connected to political sovereignty even as polities changed from empires and kingdoms to dictatorships and democracies, and as money shifted from coin to paper and now to digital currency. Money constitutes a claim on value in exchange and a store and measure of value, so we consider the role law plays in these three articulations between money and value. We examine research on different instances of legal control over official currency, monetary innovations, standards of monetary measurement and valuation, counterfeiting, terror financing, and money laundering to show how the relationship between money and law has evolved in response to changes in international law, national sovereignty, and global markets.

Suggested Citation

Carruthers, Bruce G. and Arslan, Melike, Sovereignty, Law, and Money: New Developments (October 2019). Annual Review of Law and Social Science, Vol. 15, pp. 521-538, 2019, Available at SSRN: https://ssrn.com/abstract=3472505 or http://dx.doi.org/10.1146/annurev-lawsocsci-101518-042625

Bruce G. Carruthers (Contact Author)

Northwestern University ( email )

1810 Chicago Ave
Evanston, IL 60208
United States
847-467-1251 (Phone)

Melike Arslan

Northwestern University ( email )

2001 Sheridan Road
Evanston, IL 60208
United States

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