(Un)conditional Openness: Towards a Neochartalist Theory of Money and Trust

In this special episode, Rob Hawkes joins Scott Ferguson and Will Beaman to discuss his new article “(Un)conditional Openness: Towards a Neochartalist Theory of Money and Trust,” which was recently published in Money on the Left: History, Theory, Practice. The conversation traces the development of Rob’s long-standing interest in theories of trust from his doctoral research in literary studies towards an increasing fascination with the topic of money which eventually led him to MMT, neochartalism and the Money on the Left project. Rob recalls a jarring moment when, having become excited by the possibility of bringing MMT into his research on literature and trust, he realised that some neochartalists reject the idea that money is trust-based. Determined to think this relationship through in greater depth, Rob’s article reaches the conclusion that neochartalism demands a re-theorisation of the concept of trust itself. In this wide-ranging conversation, Rob, Scott, and Will work through some of the key moves the article makes, including the problematisation of barter-like theories of “calculative trust,” its consideration of the connection between trust and vulnerability, and the way trusting blurs the distinction between conditionality and unconditionality (as alluded to in the article’s title). Finally, the discussion addresses links between trust, the university (as an institution), and the uni currency proposal, and situates Rob’s work within the heterodox and heterogeneous interdisciplinary academic, para-academic, and extra-academic field that is contemporary neochartalism.

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Music by Nahneen Kula: www.nahneenkula.com