Money, democracy, and the Southern tradition (United States, Austria)

The dissertation explores the similarities in the approach taken by interpretive social science, based on philosophical hermeneutics, and writers in the Southern tradition. It uses these combined critiques of modernity to look at the history and development of American political and economic institutions. Specifically, the dissertation examines the historical development of American monetary institutions, particularly during the nineteenth century. The focus of the dissertation is on the meaning of democracy in the American context and the role that monetary institutions play in a democratic society. Two widely different views of democracy are examined. One is a centralized approach organized around the state; the other is a decentralized, community-oriented view. The dissertation argues that a decentralized view of democracy with decentralized monetary institutions as a necessary institutional component is the view of democracy most consistent with liberty.