The Meaning of Modern Money and Its Relationship with Interest from Simmel's Perspective

Instrumental rationality perceives money as a merely efficient tool for maximizing individual interests, manifested in the form of interest. Zimmel, departing from technical rationality, presents a philosophical and theological understanding of money. Zimmel considers interest as a necessary aspect of pure money but does not elaborate on it in detail. In this article, using a descriptive-analytical method, we revisit the meaning of money according to Zimmel and its relationship with interest. The research findings indicate that modern money has an inherent identity relationship with interest. Money has three layers of meaning: the formal layer, the pure will layer, and the theological layer. The formal layer of money contradicts the concept of interest rates, while in the pure will layer, money stimulates the economy and establishes a bond between subject and object through interest. In the theological layer, where money replaces God, interest becomes a form of religious tribute paid to money. Due to the separation from pure existence and the real divine, humans seek self-expansion and self-enrichment through exploiting lower classes by realizing interest.