• Money, Institutions, and Social Groups | J. P. Smit

  • Jul 28 2024
  • Length: 1 hr and 9 mins
  • Podcast

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Money, Institutions, and Social Groups | J. P. Smit

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  • Summary

  • What is the nature of social institutions? Is Searle correct that collective agreement is the key to understanding social phenomena, or should we pursue a different theoretical framework?


    Smit argues for a different understanding of institutions, which relies on the notion of a coordination game.


    Read Smit's publications here: https://philpeople.org/profiles/j-p-smit


    [00:00] Introduction and Guest Welcome


    [00:15] Thought Experiment: Prison Economy


    [01:29] The Nature of Money: Abstract vs. Physical


    [02:12] Searle's Explanation of Money


    [03:45] Philosophical Debates on Institutional Objects


    [05:02] Game Theoretical Account of Money


    [08:08] Analogy: Chess and Money


    [20:06] Critique of Complex Theories of Money


    [24:18] Coordination Games and Social Phenomena


    [35:36] Exploring Social Facts and Ontology


    [36:46] Human Existence and Social Phenomena


    [38:03] Borders and Incentives


    [41:47] Dormant Laws and Institutions


    [45:41] Legal Definitions and Descriptive Tasks


    [53:27] The Nature of Companies and Legal Entities


    [01:02:14] Social Groups and Identity


    [01:08:17] Concluding Thoughts
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