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Property Rights on Credit and State Control of Money: The Irrelevance of the Origin of Money

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  • Soldatos Gerasimos T.

    (American University of Athens, Emeritus, Athens, Greece)

Abstract

Looking briefly at the anthropological and sociological findings regarding the emergence of money in primordial times, and at the relationship between money and the state in historical times after the emergence of money, this article makes the point that credit money is associated with externalities justifying state intervention even if money did not emerge as debt money. The extent of state intervention is eventually a political matter given that money is needed in addition to finance public goods.

Suggested Citation

  • Soldatos Gerasimos T., 2018. "Property Rights on Credit and State Control of Money: The Irrelevance of the Origin of Money," The Economists' Voice, De Gruyter, vol. 15(1), pages 1-5, December.
    • Handle: RePEc:bpj:evoice:v:15:y:2018:i:1:p:5:n:12
    DOI: 10.1515/ev-2018-0031
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    References listed on IDEAS

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    1. Georgios Papadopoulos, 2009. "Between Rules and Power: Money as an Institution Sanctioned by Political Authority," Journal of Economic Issues, Taylor & Francis Journals, vol. 43(4), pages 951-969.
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    3. Stephen Quinn, 2008. "Securitization of Sovereign Debt: Corporations as a Sovereign Debt Restructuring Mechanism in Britain, 1694-1750," Working Papers 200701, Texas Christian University, Department of Economics.
    4. Knapp, Georg Friedrich, 1924. "The State Theory of Money," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number knapp1924.
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    6. L. Randall Wray, 1998. "Understanding Modern Money," Books, Edward Elgar Publishing, number 1668.
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    Cited by:

    1. Rakesh Shrivastava, 2021. "Free Services On The Net: Move From Barter To Money," Working papers 2021-38-08, Voice of Research.

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    More about this item

    Keywords

    Origin of money; state control of money; property rights on credit money;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General

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