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Freigeld
As part of the theory of Freiwirtschaft, Freigeld ('free money', ) is a monetary (or exchange) unit proposed by Silvio Gesell. Properties Freigeld has several special properties: * It is maintained by a monetary authority to be ''spending-power stable'' (no inflation or deflation) by means of printing more money or withdrawing money from circulation. * It is ''cash flow safe'' (a scheme is put in place to ensure that the money is returned into the cash flow – for example, by demurrage – requiring stamps to be purchased and periodically attached to the money to keep it valid). * It is convertible into other currencies. * It is localized to a certain area (it is a local currency). The name results from the idea that there is no incentive to store or hoard Freigeld as it will automatically lose its value after some time. It is claimed that as a result, interest rates could decrease to zero. Theory According to Gesell, all human-produced goods are subject to expensive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silvio Gesell (1895)
Johann Silvio Gesell (; 17 March 1862 – 11 March 1930) was a German-Argentine economist, merchant, and the founder of Freiwirtschaft, an economic model for market socialism. In 1900 he founded the magazine ''Geld-und Bodenreform'' (''Monetary and Land Reform''), but it soon closed for financial reasons. During one of his stays in Argentina, where he lived in a vegetarian commune, Gesell started the magazine ''Der Physiokrat'' together with Georg Blumenthal. In 1914, it closed due to censorship. The Bavarian Soviet Republic, in which he participated, had a violent end and Gesell was detained for several months on a charge of treason, but was acquitted by a Munich court after a speech he gave in his own defense. Life Silvio Gesell's mother was Walloon and his father was German, originally from Aachen, who worked as a clerk in the then-Prussian district of Malmedy, now part of Belgium. Silvio was the seventh of nine children. After visiting the public Bürgerschule in Sankt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silvio Gesell
Johann Silvio Gesell (; 17 March 1862 – 11 March 1930) was a German-Argentine economist, merchant, and the founder of Freiwirtschaft, an economic model for market socialism. In 1900 he founded the magazine ''Geld-und Bodenreform'' (''Monetary and Land Reform''), but it soon closed for financial reasons. During one of his stays in Argentina, where he lived in a vegetarian commune, Gesell started the magazine ''Der Physiokrat'' together with Georg Blumenthal. In 1914, it closed due to censorship. The Bavarian Soviet Republic, in which he participated, had a violent end and Gesell was detained for several months on a charge of treason, but was acquitted by a Munich court after a speech he gave in his own defense. Life Silvio Gesell's mother was Walloon and his father was German, originally from Aachen, who worked as a clerk in the then-Prussian district of Malmedy, now part of Belgium. Silvio was the seventh of nine children. After visiting the public Bürgerschule in Sankt ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wörgl
Wörgl () is a city in the Austrian state of Tyrol, in the Kufstein district. It is from the international border with Bavaria, Germany. Population Transport Wörgl is an important railway junction between the line from Innsbruck to Munich, and the inner-Austrian line to Salzburg. Its railway station has been designated as a ''Hauptbahnhof'' (german: main station) since 10 December 2006. European route E641 connects Wörgl with Salzburg, the routes E45 and E60 (Austrian autobahn A12) pass through Wörgl. File:Bahnhof Wörgl alt.jpg, Wörgl railway station in 1900 File:Wörgl Gare 1965.jpg, Wörgl railway station in 1965 History World War II Nearby Itter Castle was the site of one of the last European and most unusual battles of World War II. The Battle for Itter Castle was fought on 5 May 1945 by surrendered Wehrmacht troops, the United States Army, Austrian Resistance fighters and former French political prisoners against the 17th ''Waffen-SS Panzer Grenadier'' Di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demurrage (currency)
Demurrage is the cost associated with owning or holding currency over a given period. It is sometimes referred to as a carrying cost of money. For commodity money such as gold, demurrage is the cost of storing and securing the gold. For paper currency, it can take the form of a periodic tax, such as a stamp tax, on currency holdings. Demurrage is sometimes cited as economically advantageous, usually in the context of complementary currency systems. Theory While demurrage is a natural feature of private commodity money, it has at various times been deliberately incorporated into currency systems as a disincentive to hoard money and to achieve more efficient allocation of capital in society. In particular, for long-term investment financing, it affects the dynamics of net present value (NPV) calculations. Demurrage in a currency system reduces discount rates, and thus increases the present value of a long-term investment, and thus gives an incentive for such investments.Bernard L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chiemgauer
Chiemgauer is a regional local currency started in 2003 in Prien am Chiemsee, Bavaria, Germany. Named after the Chiemgau, a region around the Chiemsee lake, it is intended to increase local employment, supporting local culture, and make the local food supply more resilient. The Chiemgauer operates with a fixed exchange rate, tied to the value of the euro: 1 Chiemgauer = €1. History In 2003, Christian Gelleri, a high school teacher, started this project with his students, who are in charge of designing and printing vouchers and take care of administration, accounting, advertising, and other tasks. Chiemgauer is a member of a regional currencies' network called Regiogeld (regiomoney association). Gelleri had been inspired by the economists Silvio Gesell and Rudolf Steiner, and by the former's Freigeld. The Chiemgauer is intended for: * Employment creation: unemployed, students, and volunteers are hired to work, earning some allowances * Promotion of cultural, edu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest Rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized. The interest rate has been characterized as "an index of the preference . . . for a dollar of present ncomeover a dollar of future income." The borrower wants, or needs, to have money sooner rather than later, and is willing to pay a fee—the interest rate—for that privilege. Influencing factors Interest rates vary according to: * the government's directives to the central bank to accomplish the government's goals * the currency of the principal sum lent or borrowed * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Natural Economic Order
''The Natural Economic Order'' (german: Die natürliche Wirtschaftsordnung durch Freiland und Freigeld, in short ''NWO''; published in Bern in 1916) is considered Silvio Gesell's most important book. It is a work on monetary reform and land reform. It attempts to provide a solid basis for economic liberalism in contrast to the 20th-century trend of collectivism Collectivism may refer to: * Bureaucratic collectivism, a theory of class society whichto describe the Soviet Union under Joseph Stalin * Collectivist anarchism, a socialist doctrine in which the workers own and manage the production * Collectivis ... and planned economy.Silvio GesellNatural Economic Order T G S, 2007. The work was translated into English by Philip Pye in 1929. References External links * Full text o Freiwirtschaft 1916 non-fiction books {{econ-book-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Freiwirtschaft
(German for "free economy") is an economic idea founded by Silvio Gesell in 1916. He called it ' (natural economic order). In 1932, a group of Swiss businessmen used his ideas to found the WIR Bank (WIR). Structure Freiwirtschaft consists of three central aspects, usually summed up as the Three Fs: * ' (free money) ** All money is issued for a ''limited'' period by ''constant'' value (neither inflation, nor deflation). ** Long-term saving requires investment in bonds or stocks. * ' (free land) ** All land is commonly owned or else the property of public institutions and can only be rented from the community or from government, respectively, not purchased (''see also Georgism''). * ' (free trade) History The basic economic ideas of Freiwirtschaft were published in 1890 by the Hungarian-Austrian economist Theodor Hertzka in his novel ''Freiland - ein soziales Zukunftsbild'' (''Freeland - A Social Anticipation''). Flaws of the monetary system Freiwirtschaft claims that curre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bernard Lietaer
Bernard Lietaer (7 February 1942 – 4 February 2019) was a Belgian civil engineer, economist, author, and educator. He studied monetary systems and promoted the idea that communities can benefit from creating their own local or complementary currency, which circulate parallel with national currencies. Early life Bernard Lietaer was born on 7 February 1942 in Lauwe, Belgium. He attended College of St Paul, Godinne from 1955 to 1961. He studied engineering at the Catholic University of Leuven, in Belgium, where, later in life, he held an assistant professorship of international finance. During his engineering studies, he was a member of the debating union Olivaint Conference of Belgium. After obtaining his M.Sc. in 1967, he went on to continue his studies at the MIT until 1969. Career Lietaer's post-graduate thesis, published in 1971, included a description of "floating exchanges". The Nixon Shock of that same year eradicated the Bretton Woods system by decoupling the US doll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Local Currencies
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community currency might be local or be used for exchange within an online community. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. Such currencies may not be backed by a national government nor be legal tender. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database. Terminology Some definitions: * Complementary currency - is used as a complement to a national currency, as a medium of exchange, which is usually not legal tender. * Community currency - a complementary currency used by a group with a common bond, such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Margrit Kennedy
Margrit Kennedy (November 21, 1939, Chemnitz – December 28, 2013, Steyerberg) was a German architect, professor, environmentalist, author and advocate of complementary currencies and an interest- and inflation-free economy. In 2011, she initiated the movement Occupy Money. Career Kennedy was an architect with a master's degree in Urban and Regional Planning and a Ph.D. in Public and International Affairs from the University of Pittsburgh Graduate School of Public and International Affairs. She worked as an urban planner in Germany, Nigeria, Scotland and the United States. In 1991, she was appointed Professor of Ecological Building Technologies at the Department of Architecture, Leibniz University Hannover. Theory Margrit Kennedy is most famous for her criticism against the money system and the interest, as well as her ideas on local and complementary currencies. She has stated that her work on ecological architecture in 1982 led her to the discovery that it is "virtually impos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Momo (novel)
''Momo'', also known as ''The Grey Gentlemen'' or ''The Men in Grey'', is a fantasy novel by Michael Ende, published in 1973. It is about the concept of time and how it is used by humans in modern societies. The full title in German (''Momo oder Die seltsame Geschichte von den Zeit-Dieben und von dem Kind, das den Menschen die gestohlene Zeit zurückbrachte'') translates to ''Momo, or the strange story of the time-thieves and the child who brought the stolen time back to the people''. The book won the Deutscher Jugendliteraturpreis in 1974. Plot In the ruins of an amphitheatre just outside an unnamed city lives Momo, a little girl of mysterious origin. She came to the ruin, parentless and wearing a long, used coat. She is illiterate and cannot count, and she doesn't know how old she is. When asked, she replies, "As far as I remember, I've always been around." She is remarkable in the neighbourhood because she has the extraordinary ability to listen—really listen. By simply ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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