This project will reconsider the intersection between law and economics with an emphasis on the contribution that law can make to economic conceptions of money
Professor Rosa Lastra, Sir John Lubbock Chair in Banking Law at the Centre for Commercial Law Studies, Queen Mary University of London, is Principle Investigator for the Legal and Economic Conceptions of Money project. This project is funded by Rebuilding Economics.
The project will reconsider the intersection between law and economics with an emphasis on the contribution that law can make to economic conceptions of money. This will include addressing: What are the functions of money, and how do these functions relate to each other? What is the most important function of money today? Generally, no hierarchy is postulated between the different functions of money, nor is any comprehensive theory advanced as to how money in different monetary systems might change with technology or over time. As new digital means of payment are created at an increasing pace—led by private entities—this becomes an increasing challenge for regulators and central bankers. What is the thing that functions, what role does law play in its creation, and how might understanding that help us to develop functional analysis?
Dr Jason Grant Allen (HU Berlin), Simon Gleeson (Clifford Chance), Dr Michael Kumhof (Bank of England), and Professor Saule T. Omarova (Cornell) are Co-Investigators.
Read more about the project on the Rebuilding Macroeconomics page.