Abstract:

Following the research on social differentiation and inequality initiated by Georg Simmel， this paper attempts to examine via financial instruments’ social properties the systematic changes in credibility differentiation， interpersonal exchange adjustment， and social injustice as a result of the general development of financial instruments. From the analysis of social exchange， the paper introduces the concept of “marks of promise” and utilizes “marks of group promise” to handle financial instruments’ social properties. Thinking of the transition from marks of promise to marks of group promise and the impact of money’s nonmetal aspect on people’s ability to make valid marks of promise （i.e.， credibility） has led to the discovery of the selfsustaining and selfintensifying mechanisms for social credibility differentiation and social injustice. The author contends that the emergence of money as a basic mark of group promise has made the following very important： a social member’s position in the social structure， his/her ability to symbolize， and his/her knowledge of symbolization and its operations. Marks of different group promises are created by the supreme in the societal structure and get connected to money， thus recreating social injustice. From the angle of loans， the paper analyzes the mutual influences between credibility and social structure， and the problem of social differentiation henceforth.

Key words: marks of promises, financial instruments, credit capability