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Silvio Gesell's Theory and Accelerated Money Experiments

Author

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  • Jérôme Blanc

    (LEFI - Laboratoire d'Economie de la Firme et des Institutions - UL2 - Université Lumière - Lyon 2)

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 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. Among the experiments that took place, several 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. "Silvio Gesell's Theory and Accelerated Money Experiments," Working Papers halshs-00119192, HAL.
    • Handle: RePEc:hal:wpaper:halshs-00119192
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00119192
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    File URL: https://shs.hal.science/halshs-00119192/document
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    Cited by:

    1. Abdullahi Ahmed Umar & Kabiru Goje & Mahadi Ahmad, 2023. "Combating Rising Energy Poverty with Sunnah-Compliant Orthodox Sukuk Finance," JRFM, MDPI, vol. 16(10), pages 1-19, October.

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