Pierre-Joseph Proudhon’s Credit and Social Money (1809–1865)

Nathalie Ferreira

Table of Contents


Even if experiments in social currencies occupy the forefront of the recent economic scene, these new forms of trade come from a long historical lineage of monetary experiments considered as utopian and/or socialist. By using a social currency from the 19th century (the zero-interest credit) as an instrument of monetary system reform, P. J. Proudhon seems to have proposed the theoretical bases explaining the existence of social currencies today.


  • reform of the monetary system
  • the mutual and free credit
  • the bank of exchange
  • the bank of the people
  • social currency