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This work provides a systematic sociological discussion of one of the most important of modern institutions: money. The author demonstrates the immense significance of monetary systems in modern societies and considers why social theory has been so slow to address this issue. The author considers differing conceptions of the nature of money in economics, sociology and anthropology, subjecting these to a systematic critique. The author covers some of the main debates in economic theory, but concentrates attention upon the role of money in the work of prominent social theorists, including Simmel, Parsons, Habermas and Giddens. None of these writers, Dodd concludes, offer a satisfactory account of the character or significance of money in modern societies. He therefore develops a new interpretation of the nature of monetary transactions, which he shows has far-reaching implications for social and economic analysis in general. Because of its interdisciplinary nature, this book should be of interest to those working in the fields of economics, social theory, sociology and anthropology.