IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-02380131.html
   My bibliography  Save this paper

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

Author

Listed:
  • Jérôme Blanc

    (CALW - Centre Auguste et Léon Walras - UL2 - Université Lumière - Lyon 2 - CNRS - Centre National de la Recherche Scientifique)

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.

Suggested Citation

  • Jérôme Blanc, 1998. "Free Money for Social Progress: Theory and Practice of Gesell's Accelerated Money," Post-Print halshs-02380131, HAL.
  • Handle: RePEc:hal:journl:halshs-02380131
    DOI: 10.1111/j.1536-7150.1998.tb03376.x
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Cordelius Ilgmann & Martin Menner, 2011. "Negative nominal interest rates: history and current proposals," International Economics and Economic Policy, Springer, vol. 8(4), pages 383-405, December.
    2. Moon Soo Kim & Jee Yong Chung, 2018. "Sustainable Growth and Token Economy Design: The Case of Steemit," Sustainability, MDPI, vol. 11(1), pages 1-12, December.
    3. Roman N. Bozhya-Volya & Alina S. Rybak, 2019. "Why Should Money Lose Value With Time: Boosting Economy In The Era Of E-Money," HSE Working papers WP BRP 207/EC/2019, National Research University Higher School of Economics.
    4. Yannick Lung & Matthieu Montalban & Leo Malherbe, 2019. "Between territorial and virtual proximities. The digitalization process of the French ecosystem of complementary local currencies," Post-Print hal-03148426, HAL.
    5. Blanc, Jérôme, 2002. "Formes et rationalités du localisme monétaire," L'Actualité Economique, Société Canadienne de Science Economique, vol. 78(3), pages 347-369, Septembre.
    6. Jérôme Blanc, 2009. "Contraintes Et Choix Organisationnels Dans Les Dispositifs De Monnaies Sociales," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 80(4), pages 547-577, December.
    7. Horst Treiblmaier, 2022. "Do cryptocurrencies really have (no) intrinsic value?," Electronic Markets, Springer;IIM University of St. Gallen, vol. 32(3), pages 1749-1758, September.
    8. Martin Menner, 2011. ""Gesell Tax" and Efficiency of Monetary Exchange," Working Papers. Serie AD 2011-26, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    9. Frédéric A Hayek & Pascal Lafourcade & Ariane Tichit, 2023. "Generic and Universal Local Cryptocurrency: LCoin," Post-Print hal-04176704, HAL.
    10. Degens, Philipp, 2013. "Alternative Geldkonzepte - ein Literaturbericht," MPIfG Discussion Paper 13/1, Max Planck Institute for the Study of Societies.
    11. Alessandro Lanteri, 2010. "The Economic Ethics of Ezra Pound," ICER Working Papers 25-2010, ICER - International Centre for Economic Research.
    12. Ilgmann, Cordelius, 2011. "Silvio Gesell: 'a strange, unduly neglected' monetary theorist," CAWM Discussion Papers 23, University of Münster, Münster Center for Economic Policy (MEP).
    13. Mark S. Peacock, 2006. "The Moral Economy of Parallel Currencies," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(5), pages 1059-1083, November.
    14. Jérôme Blanc, 2006. "A quoi servent les monnaies sociales ?," Post-Print halshs-00085785, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:halshs-02380131. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.