Название: Ownership Economics: On the Foundations of Interest, Money, Markets, Business Cycles and Economic Development
Автор: Gunnar Heinsohn and Otto Steiger
Издательство: Routledge
Год: 2013
Формат: PDF
Размер: 44 Мб
Язык: английский / English

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.