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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.
"synopsis" may belong to another edition of this title.
Gunnar Heinsohn is Professor Emeritus at the University of Bremen, Germany.
Otto Steiger, who passed away in 2008, was a Professor at the University of Bremen, Germany.
Frank Decker is an economist based in Sydney, Australia.
"About this title" may belong to another edition of this title.
Book Description Taylor & Francis, 2016. Paperback. Condition: Brand New. reprint edition. 224 pages. 9.21x6.14 inches. In Stock. Seller Inventory # __1138241288
Book Description Routledge, 2016. Paperback. Condition: NEW. 9781138241282 This listing is a new book, a title currently in-print which we order directly and immediately from the publisher. For all enquiries, please contact Herb Tandree Philosophy Books directly - customer service is our primary goal. Seller Inventory # HTANDREE01224286