Eigentum, Zins Und Geld: Ungelöste Rätsel Der Wirtschaftswissenschaft

by Gunnar Heinsohn, Otto Steiger

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.

Genres: Economics

Paperback

First published January 1, 2006

Reviews

[JW · Rating 4 out of 5]

A bit more defensive than it would need to be towards other theories, but all in all a very stable theory of property and money - the best I've found so far. Clear, structurally sound, and no hidden dusty "don't look there" corners which other such theories tend to have.

It could use some more elaboration on the workings information in the market; but that would make a separate book, I guess.

All in all, very much recommended if you're interested in this subject area.