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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] |
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] |
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] |
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] |
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] |
Entropy
Entropy is a scientific concept, most commonly associated with states of disorder, randomness, or uncertainty. The term and the concept are used in diverse fields, from classical thermodynamics, where it was first recognized, to the microscopic description of nature in statistical physics, and to the principles of information theory. It has found far-ranging applications in chemistry and physics, in biological systems and their relation to life, in cosmology, economics, sociology, weather science, climate change and information systems including the transmission of information in telecommunication. Entropy is central to the second law of thermodynamics, which states that the entropy of an isolated system left to spontaneous evolution cannot decrease with time. As a result, isolated systems evolve toward thermodynamic equilibrium, where the entropy is highest. A consequence of the second law of thermodynamics is that certain processes are irreversible. The thermodynami ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Depreciation
In accountancy, depreciation refers to two aspects of the same concept: first, an actual reduction in the fair value of an asset, such as the decrease in value of factory equipment each year as it is used and wears, and second, the allocation in accounting statements of the original cost of the assets to periods in which the assets are used (depreciation with the matching principle). Depreciation is thus the decrease in the value of assets and the method used to reallocate, or "write down" the cost of a tangible asset (such as equipment) over its useful life span. Businesses depreciate long-term assets for both accounting and tax purposes. The decrease in value of the asset affects the balance sheet of a business or entity, and the method of depreciating the asset, accounting-wise, affects the net income, and thus the income statement that they report. Generally, the cost is allocated as depreciation expense among the periods in which the asset is expected to be used. Account ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are: medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possessed intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. The money supply of a country comprises all currency in circulation (banknotes and coins currently issued) and, depending on the particular definiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hoarding (economics)
Hoarding in economics refers to the concept of purchasing and storing a large amount of a particular product, creating scarcity of that product, and ultimately driving the price of that product up. Commonly hoarded products include assets such as money, gold and Security (finance), public securities, as well as vital goods such as fuel and medicine. Consumers are primarily hoarding resources so that they can maintain their current consumption rate in the event of a shortage (Scarcity (social psychology), real or perceived). Hoarding resources can prevent or slow products or Commodity, commodities from traveling through the economy. Subsequently, this may cause the product or commodity to become scarce, causing the value of the resource to rise. A common intention of economic hoarding is to generate a profit by selling the product once the price has increased. Hence, economic Speculation#:~:text=Speculators play one of four,investors who seek profit through, speculators tend to hoar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Theory
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions (as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a public good. The discipline has historically prefigured, and remains integrally linked to, macroeconomics. This branch also examines the effects of monetary systems, including regulation of money and associated financial institutions and international aspects. Modern analysis has attempted to provide microfoundations for the demand for money and to distinguish valid nominal and real monetary relationships for micro or macro uses, including their influence on the aggregate demand for output. Its methods include deriving and testing the implications of money as a substitute for other assets and as based on explicit frictions. History Islamic Golden Age At around the sam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Socialism
Market socialism is a type of economic system involving social ownership of the means of production within the framework of a market economy. Various models for such a system exist, usually involving cooperative enterprises and sometimes a mix that includes public or private enterprises. In contrast to the majority of historic self-described socialist economies, which have substituted the market mechanism for some form of economic planning, market socialists wish to retain the use of supply and demand signals to guide the allocation of capital goods and the means of production. Under such a system, depending on whether socially owned firms are state-owned or operated as worker cooperatives, profits may variously be used to directly remunerate employees, accrue to society at large as the source of public finance, or be distributed amongst the population in a social dividend. Market socialism can be distinguished from the concept of the mixed economy because most models of m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
German Language
German (, ) is a West Germanic language in the Indo-European language family, mainly spoken in Western Europe, Western and Central Europe. It is the majority and Official language, official (or co-official) language in Germany, Austria, Switzerland, and Liechtenstein. It is also an official language of Luxembourg, German-speaking Community of Belgium, Belgium and the Italian autonomous province of South Tyrol, as well as a recognized national language in Namibia. There are also notable German-speaking communities in other parts of Europe, including: Poland (Upper Silesia), the Czech Republic (North Bohemia), Denmark (South Jutland County, North Schleswig), Slovakia (Krahule), Germans of Romania, Romania, Hungary (Sopron), and France (European Collectivity of Alsace, Alsace). Overseas, sizeable communities of German-speakers are found in the Americas. German is one of the global language system, major languages of the world, with nearly 80 million native speakers and over 130 mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Reformer
Reformism is a type of social movement that aims to bring a social or also a political system closer to the community's ideal. A reform movement is distinguished from more radical social movements such as revolutionary movements which reject those old ideals, in that the ideas are often grounded in liberalism, although they may be rooted in socialist (specifically, social democratic) or religious concepts. Some rely on personal transformation; others rely on small collectives, such as Mahatma Gandhi's spinning wheel and the self-sustaining village economy, as a mode of social change. Reactionary movements, which can arise against any of these, attempt to put things back the way they were before any successes the new reform movement(s) enjoyed, or to prevent any such successes. United Kingdom After two decades of intensely conservative rule, the logjam broke in the late 1820s with the repeal of obsolete restrictions on Nonconformists, followed by the dramatic removal of se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
