By Gunnar Heinsohn
This booklet offers the 1st full-length clarification in English of Heinsohn and Steiger's groundbreaking thought of cash and curiosity, which emphasizes the function performed by means of inner most estate rights.
Ownership economics supplies an alternate rationalization of cash and curiosity, providing that operations enabled by means of estate result in curiosity and cash, instead of alternate of products. like all different method, it has to respond to monetary theory's middle query: what's the loss that needs to be compensated via interest?
Ownership economics accepts neither a short lived lack of items, as in neoclassical economics, nor Keynes's transitority lack of already latest, exogenous cash because the reason for curiosity. fairly, cash is created as a non-physical identify to estate in a credits agreement secured through a debtor's collateral and the creditor's web worth.
This publication is an edited English translation of a hugely profitable German textual content, and gives the 1st book-length remedy of a idea which has bought a lot curiosity because its first visual appeal in articles within the past due 1970s.
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