Movement meaning of money: Monetary mobilization in Hong Kong’s prodemocracy movement

The resource mobilization (RM) theory has long discovered the significance of money for protests; yet can this insight be applied to nowadays’ decentralized movements, characterized by the absence of organizational leadership and more creative and spontaneous participation from below? While the RM perspective is anchored in a political economy of organizational fundraising, it is time to bring in Viviana Zelizer’s economic sociology to understand how participants utilize the role of donors, consumers, savers, and investors for the movement purpose. Focusing on Hong Kong’s prodemocracy movement, this article theorizes the full panoply of ‘monetary mobilization’ to revise RM’s narrow conception. By offering a safer and anonymous channel of expression, monetary mobilization emerges as a substitute for in-person participation for risk-averse citizens with financial means. Money is always loaded with symbolic meanings and ethical considerations so that it also functions as a vehicle of the moral outrage and utopian aspirations. Participants are keen to establish a proper relationship between sponsors and beneficiaries by exercising diligent oversight to prevent its corruption. Contrary to the instrumentalist conception, money is per se not a fully fungible and all-purpose resource.