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Freiwirtschaft
(German for "free economy") is an economic theory and proposal founded by the German-Argentine economist Silvio Gesell in his 1916 book, ''The Natural Economic Order'' (). Some of the basic economic ideas of Freiwirtschaft were also independently published in 1890 by the Hungarian-Austrian economist Theodor Hertzka in his novel ''Freiland - ein soziales Zukunftsbild'' (''Freeland - A Social Anticipation''). Structure Freiwirtschaft consists of three central aspects, usually summed up as the Three Fs: * ' ('free money') ** All money is issued for a ''limited'' period by ''constant'' value (neither inflation, nor deflation). ** Long-term saving requires investment in bonds or stocks. ** Freigeld is 'free' because it's free (libre) from hoarding and interest. * ' ('free land') ** All land is commonly owned or else the property of public institutions and can only be rented from the community or from government, respectively, not purchased (''see also Georgism''). * ' ('free tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demurrage Currency
Demurrage currency, also known as depreciating money or stamp scrip in its paper money form, is a type of money that is designed to gradually lose purchasing power at a flat constant rate. Unlike traditional money, demurrage is designed to only be a ''temporary'' store of value. Demurrage money functions primarily as a medium of exchange and unit of account. In some cases, demurrage currencies have been employed as emergency currencies, intended to keep the circular flow of income running throughout the economy during recessions and times of war, due to their faster circulation velocities. Demurrage is sometimes cited as economically advantageous, usually in the context of complementary currency systems. The German-Argentine economist, Silvio Gesell, advocated for demurrage currency as part of the Freiwirtschaft economic system. He referred to demurrage as '' Freigeld'' 'free money' — "free" because it would be freed from hoarding and interest. Gesell theorized that Freigeld ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silvio Gesell (1895)
Johann Silvio Gesell (; 17 March 1862 – 11 March 1930) was a German-Argentine economist, entrepreneur, and social reformer. He was the founder of (German for "free economy"), an economic model for market socialism. In 1900, he founded the magazine ''The Money and Land Reform'' (), but it soon closed for financial reasons. During his time in Oranienburg, Gesell started the magazine ''Der Physiokrat'' together with . In 1914, it closed due to censorship. In 1916, he published his most famous work, ''The Natural Economic Order''. Gesell is mainly known for his monetary theory. In particular, he noticed that there is an asymmetry between the durability and hoardability of money versus the fragility and depreciation of goods and services that lose value due to entropy and the passage of time. He believed that people who own or hoard money have an unfair economic advantage over people who are dependent on producing and selling decayable goods and services for their livelihoods. G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silvio Gesell
Johann Silvio Gesell (; 17 March 1862 – 11 March 1930) was a German-Argentine economist, entrepreneur, and social reformer. He was the founder of (German language, German for "free economy"), an economic model for market socialism. In 1900, he founded the magazine ''The Money and Land Reform'' (), but it soon closed for financial reasons. During his time in Oranienburg, Gesell started the magazine ''Der Physiokrat'' together with . In 1914, it closed due to censorship. In 1916, he published his most famous work, ''The Natural Economic Order''. Gesell is mainly known for his monetary theory. In particular, he noticed that there is an asymmetry between the durability and Hoarding (economics), hoardability of money versus the fragility and depreciation of goods and services that lose value due to entropy and the passage of time. He believed that people who own or hoard money have an unfair economic advantage over people who are dependent on producing and selling decayable goods ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest-free Economy
An interest-free economy or interest free economy is an economy that does not have pure interest rates. An interest free economy may use either barter, credit, or money as its medium of exchange. Historically, there has been a taboo against usury and charging interest rates across many cultures and religions. In some contexts, "interest-free economy" may refer to a zero interest-rate policy, a macroeconomic concept for describing an economy that is characterized by a low nominal interest rate. The total interest rate typically consists of four components: pure (risk-free) interest, a risk premium, expected inflation or deflation, and administrative costs. In an interest-free economy, the pure interest rate component of the total interest rate would not exist, by definition. Depending on how the economy is structured, the other three components of interest of the total interest may or may not remain, so an interest-free economy does not necessarily have to be free of all types of in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Natural Economic Order
''The Natural Economic Order'' through Free Land and Free Money (, in short ''NWO''; published in Bern in 1916) is considered Silvio Gesell's most important book. It is a work on monetary reform and land reform. It attempts to provide a solid basis for economic liberalism in contrast to the 20th-century trend of collectivism and planned economy A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, ....Silvio GesellNatural Economic Order T G S, 2007. The work was translated into English by Philip Pye in 1929. References External links * Full text o Freiwirtschaft 1916 non-fiction books Georgist publications {{econ-book-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodor Hertzka
Theodor Hertzka, or Hertzka Tivadar (July 13, 1845 – October 22, 1924) was a Jewish-Hungarian-Austrian economist and journalist. Life He studied at the universities of Vienna and Budapest, and in 1872 became a member of the editorial staff of the ''Neue Freie Presse'' of Vienna. In 1879 he founded the newspaper '' Wiener Allgemeine Zeitung'', which he edited until 1886. He was a friend of Johannes Brahms. Hertzka has been called the "Austrian Bellamy", because his novel ''Freeland: A Social Anticipation'' had a theme similar to that of Edward Bellamy's novel ''Looking Backward''. Though Hertzka was not a Zionist and his utopian vision was directed at human beings in general, Theodor Herzl Theodor Herzl (2 May 1860 – 3 July 1904) was an Austria-Hungary, Austro-Hungarian Jewish journalist and lawyer who was the father of Types of Zionism, modern political Zionism. Herzl formed the World Zionist Organization, Zionist Organizat ... acknowledged the influence of Hertzka o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation (economics)
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in real demand for goods and services (also known as demand shocks, including changes in fiscal or monetary policy), changes in available supplies such as during energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderate inflation affects economies in both positive and negative ways ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income". The borrower wants, or needs, to have money sooner, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * the term to m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Currency
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community currency might be local or be used for exchange within an online community. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. Such currencies may not be backed by a national government nor be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database. Terminology Some definitions: * Complementary currency – is used as a complement to a national currency, as a medium of exchange, which is usually not legal tender. * Community currency – a complementary currency used by a group with a Common bond of ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scrip
A scrip (or ''wikt:chit#Etymology 3, chit'' in India) is any substitute for legal tender. It is often a form of credit (finance), credit. Scrips have been created and used for a variety of reasons, including exploitative payment of employees under truck systems; or for use in local commerce at times when regular currency was unavailable, for example in remote coal towns, military bases, ships on long voyages, or military occupation, occupied countries in wartime. Besides company scrip, other forms of scrip include land scrip, vouchers, token coins such as subway tokens, IOUs, arcade tokens and tickets, and points on some credit cards. Scrips have gained historical importance and become a subject of study in numismatics and exonumia due to their wide variety and recurring use. Scrip behaves similarly to a currency, and as such can be used to study monetary economics. History A variety of forms of scrip were used at various times in the 19th and 20th centuries. Company scrip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Georgism
Georgism, in modern times also called Geoism, and known historically as the single tax movement, is an economic ideology holding that people should own the value that they produce themselves, while the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society. Developed from the writings of American economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems based on principles of land rights and public finance that attempt to integrate economic efficiency with social justice. Georgism is concerned with the distribution of economic rent caused by land ownership, natural monopolies, pollution rights, and control of the commons, including title of ownership for natural resources and other contrived Privilege (legal ethics), privileges (e.g., intellectual property). Any natural resource that is inherently limited in Supply (econ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
