Monday 6 June 2011

Glasman’s critique of the commodity does not originate with Polanyi, and it predates socialism. The critique of the commodity first appeared in the West as a critique of the idolatry of money; a critique of the belief that money can produce things of itself, and thus in particular a critique of usury (and it is worth noting that one of Glasman’s campaigns with London Citizens was for a cap on interest). That critique can be found in Aristotle (one of Glasman’s common reference points). Aristotle wrote of wealth creation that "The most hated sort and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural object of it”. This criticism overlaps with a religiously inspired critique of the belief that money can create something out of nothing (a power reserved only for divinity). Or, as Glasman puts it, “the pressure of commodification violates a fundamental notion of the sacred common to all the Abrahamic faiths concerning the integrity of the human being, the divine status of nature and the limits of money…”.

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