BEHAVIOURAL AND SOCIAL IMPLICATIONS OF THE CENTRAL BANKS
BEHAVIOURAL AND SOCIAL IMPLICATIONS OF THE CENTRAL BANKS

Summary/Abstract: The term ‘social institution’ is somewhat unclear both in ordinary language and in the philosophical literature. However, contemporary sociology is somewhat more consistent in its use of the term. Typically, contemporary sociologists use the term to refer to complex social forms that reproduce themselves such as governments, the family, human languages, universities, hospitals, business corporations, and legal systems. The central bank have been empowered with economic and social powers as a result of the collective assignment to it of status functions. In this article we provide a theoretical framework regarding the social character of money and the central bank as a social institution.

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