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Alternative Views On Money In The First Half Of The Xx Century And Today

Author

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  • Ivars Brivers

    (BA School of Business and Finance, Latvia)

Abstract

The paper deals with the discussion on the alternative ideas on money, created by Silvio Gesell, Frederic Soddy and Karl Ballod. Particularly, the ideas of full-reserve banking, privilege of seigniorage and the principle of demurrage are discussed in the context of possible implementation of these ideas in a future economy. Large part of the paper is library-based, considering and briefly explaining the previously mentioned ideas, and supplementing them with the opinions of the modern economists. The discussion of the possible evolutionary way to implement those ideas is based on the logical analysis and conclusions, derived from the discussions of the author with academicians and financiers. The results lead to the conclusion that these ideas, which may seem unrealistic according the existing paradigm of growth, may turn out to be useful to form the basis of a new monetary and financial system within the new economic paradigm. The paper is an insight into unorthodox proposals on money, which may be useful to specialists and students, investigating monetary and financial systems.

Suggested Citation

  • Ivars Brivers, 2014. "Alternative Views On Money In The First Half Of The Xx Century And Today," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 9(4), pages 153-162, December.
    • Handle: RePEc:pes:ierequ:v:9:y:2014:i:4:p:153-162
    DOI: 10.12775/EQUIL.2014.030
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    More about this item

    Keywords

    money; fractional reserve; full-reserve banking; seigniorage; demurrage;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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