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Ownership Economics - On the Foundations of Interest, Money, Markets, Business Cycles and Economic Development (Paperback)
Loot Price: R1,708
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Ownership Economics - On the Foundations of Interest, Money, Markets, Business Cycles and Economic Development (Paperback)
Series: Routledge Frontiers of Political Economy
Expected to ship within 12 - 17 working days
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This book presents the first full-length explanation in English of
Heinsohn and Steiger's groundbreaking theory of money and interest,
which emphasizes the role played by private property rights.
Ownership economics gives an alternative explanation of money and
interest, proposing that operations enabled by property lead to
interest and money, rather than exchange of goods. Like any other
approach, it has to answer economic theory's core question: what is
the loss that has to be compensated by interest? Ownership
economics accepts neither a temporary loss of goods, as in
neoclassical economics, nor Keynes's temporary loss of already
existing, exogenous money as the cause of interest. Rather, money
is created as a non-physical title to property in a credit contract
secured by a debtor's collateral and the creditor's net worth. This
book is an edited English translation of a highly successful German
text, and offers the first book-length treatment of a theory which
has received much interest since its first appearance in articles
in the late 1970s.
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