Sepp Hasslberger: Hoarding Money to End?

03 Economy
Sepp Hasslberger
Sepp Hasslberger

Silvio Gesell was a century ahead of the times… and now we are finding he wasn’t wrong after all.

‘Neglected Prophet’ of Economics Got It Right

EXTRACT

Cash would still be used as a medium of exchange, but it would lose its significance as a store of value. In a way, that’s what central banks are trying to achieve when they keep lowering interest rates, sometimes breaching what is called the “zero bound.” They want money to get out and work rather than languish in bank accounts, with the idea that spending will increase demand and thus inflation rather than deflation.