1. IntroductionThe present article aims to examine whether a collective factor whatsoever was necessary to explain the emergence or persistence of money. Choosing Menger (1892) and Searle (1995) for this discussion has exemplary value since they are both believed to defend opposite positions. As we will see, Searle considers the presence of collective intentionality as a necessary precondition for institutions such as money to exist, while Menger bases his explanation on the sole pursuit of the agents' personal interest. However, we are justified in comparing them because, as Tieffenbach (2010, 191 – 193) points out, they both see their task as providing a logical and conceptual explanation of the way institutions emerge and take for this purpose money as their “example favorite". The intention of this article lies in the direct comparison of both primary texts, evaluate their comparability and actively search for shared bases in their concepts with the following objective: at best reveal aspects of compatibility or coincidence, but at least soften their apparent opposition . However, what motivated this article was a critical position towards Menger's hypothesis according to which it is solely the self-interest of agents that brings out money. I was convinced that there must be a collective factor à la Searle in the emergence of money. In this sense it is also a test of my impressions and a defense of Searle rather than a neutral comparison. However, in dealing with both authors, I realized that I was pushing Searle's position quite far – but still in a way that he would not have disapproved of – to make it compatible with Menger's account. In this sense, the loss of force of Searle's account through my reading allows me to...... half of the article ....... In: Philosophyand Phenomenological Research, 57 (2), 449 – 458 .SEARLE, John R. (2005): What is an institution? In: Journal of Institutional Economics, 1, 1 – 22.TIEFFENBACH, Emma (2010): Searle and Menger on money. In: Philosophy of the Social Sciences,40 (2), 191 – 212.VROMEN, Jack (2003): Collective intentionality, evolutionary biology and social reality. In: Philosophical Explorations, 6 (3), 251 – 265.WHITE, Lawrence H. (1985): Introduction to NYU Press Edition. In: MENGER, Carl (1883): Investigations into the method of the social sciences with particular reference to economics. Translated by: NOCK, Francis J. Edited by SCHNEIDER, Louis (19852). New York University Press, New York, pp. vii – xviii.WRAY, Randall L. (2000): Modern money. In: SMITHIN, John (ed.) (2000): What is money? Routledge International Studies in Money and Banking, London.