Skip to Main content Skip to Navigation
Journal articles

Free Money for Social Progress: Theory and Practice of Gesell's Accelerated Money

Abstract : Silvio Gesell (1862-1930) proposed a system of stamped money in order to accelerate monetary circulation and to free money from interest. This was part of a global socialist system intended to free the economy from rent and interest. In the 1930s, Irving Fisher, who proposed the system to President Roosevelt, and John Maynard Keynes rendered homage to Gesell's monetary proposals in the context of the economic depression. Several experiments took place that were based on his ideas, notably in the Austrian town of Wörgl and in the United States. These experiments were always local and never lasted more than a few months. This article shows that trust is the main issue of this kind of monetary organization; and therefore, that such experiments can only take place successfully on a small scale.
Document type :
Journal articles
Complete list of metadata

Cited literature [35 references]  Display  Hide  Download

https://halshs.archives-ouvertes.fr/halshs-02380131
Contributor : Jérôme Blanc <>
Submitted on : Friday, November 29, 2019 - 7:45:31 PM
Last modification on : Friday, January 24, 2020 - 2:03:25 AM

Links full text

Identifiers

Collections

Citation

Jérôme Blanc. Free Money for Social Progress: Theory and Practice of Gesell's Accelerated Money. American Journal of Economics and Sociology, Wiley, 1998, 57 (4), pp.469-483. ⟨10.1111/j.1536-7150.1998.tb03376.x⟩. ⟨halshs-02380131⟩

Share

Metrics

Record views

59