Ownership Economics: On the Foundations of Interest, Money, Markets, Business Cycles and Economic Development (Routledge Frontiers of Political Economy)

Book Details

• Author: Gunnar Heinsohn
• Publisher: Taylor & Francis Ltd
• Language: English
• Edition: 1st Edition
• Binding: Paperback
• Number of Pages: 196
• ISBN-13: 9781138241282
• Release Date: 09-12-2016
• Dimensions: 9.1 x 6.1 x 0.3 inches

About the Book

This book presents the first comprehensive English explanation of Heinsohn and Steiger’s groundbreaking Ownership Economics theory of money and interest, emphasizing the critical role of private property rights. Unlike traditional economic theories that link interest to the temporary loss of goods or money, this approach argues that interest and money arise from operations enabled by ownership.

Ownership economics challenges neoclassical and Keynesian explanations by proposing that money is created as a non-physical title to property within credit contracts, secured by the debtor’s collateral and the creditor’s net worth. This innovative perspective answers the core economic question of what loss interest compensates for, offering fresh insights into the nature of money and finance.

An edited English translation of a highly successful German original, this book is the first full-length treatment of a theory that has garnered significant interest since its initial articles in the late 1970s, making it an essential read for students and scholars of economics and finance.