I came across a story recently which brings together a number of interesting themes to a good end: Fifth Pillar are an NGO which, tired of corrupt Indian officials screwing the poor, have printed a Zero Rupee note, which the victims can hand over to official seeking bribes. The idea has been a massive success with hundreds of stories of shamed officials panicking in the face of a 'formal' sanction.
On one level, it's a nice story of how a relatively simple idea can challenge the powerful in favour of the poor. On another level it's an unusual twist on the symbolic power of money. When academics talk of monetary symbolism, they are usually focused on the institutionalised trust that is necessary for a monetary system to work. In this case, the note is symbolic of the protests against corruption and the sanctions that may come with them. Its materiality and its liminal position is destabilising to those who thought it was something entirely different.
On one level, it's a nice story of how a relatively simple idea can challenge the powerful in favour of the poor. On another level it's an unusual twist on the symbolic power of money. When academics talk of monetary symbolism, they are usually focused on the institutionalised trust that is necessary for a monetary system to work. In this case, the note is symbolic of the protests against corruption and the sanctions that may come with them. Its materiality and its liminal position is destabilising to those who thought it was something entirely different.
