A New Monetary System - Softcover

Edward Kellogg

Softcover

ISBN 10: 1314211102 ISBN 13: 9781314211108

Publisher: HardPress

Synopsis

A New Monetary System : The Only Means Of Securing The Respective Rights Of Labor And Property, And Of Protecting The Public From Financial Revulsions by Edward Kellogg presents a comprehensive critique of monetary order and its role in distributing wealth. Kellogg argues that money is not a natural form of wealth but a legal instrument with four powers: to represent, measure, accumulate by interest, and exchange value. He distinguishes actual value (produced by labor and usable goods) from legal value (represented by money and debt instruments), and contends that current monetary laws distort the rewards of labor, concentrating wealth in a small class of capital holders. The book proposes a radical reform: a national, paper-based Safety Fund currency backed by productive landed estates and funded to provide a stable, predictable income for lenders and borrowers alike. Kellogg outlines a detailed plan for a government-managed currency, a fixed rate of interest, and a funding mechanism to prevent financial revulsions and ensure that labor receives a just share of produced wealth. The work, introductory editorials, and appended materials trace the move from critique to a practicable monetary system.

Edition details

• Publisher: HardPress
• Language: English
• ISBN 10: 1314211102
• ISBN 13: 9781314211108
• Binding: Paperback