SILVIO GESELL Meaning and
Definition
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Silvio Gesell (1862-1930) was a German economist and social reformer who is best known for his theory of monetary economics and his advocacy for a particular form of money known as "Free Money" or "Freigeld" in German. Gesell's ideas were developed in response to the economic challenges of his time, particularly the problem of unemployment and economic instability.
Gesell proposed that money should carry a carrying cost, in the form of a demurrage fee, in order to encourage its rapid circulation. According to Gesell, money that is not spent or invested loses value over time, providing an incentive for people to spend and invest, thereby stimulating economic activity. This concept of "negative interest" or "decay money" was intended to counteract the tendency of money to be hoarded during periods of economic uncertainty, which Gesell believed contributed to economic stagnation.
Gesell's ideas influenced the development of several local currency experiments, particularly during the Great Depression, and his writings continue to inspire alternative economic thinking today. His ideas on money and its impact on economic activity remain a subject of debate and exploration among economists and monetary theorists.
Overall, Silvio Gesell was a significant figure in monetary economics, known for his theory of "Free Money" and his proposals to counteract economic instability through the implementation of a carrying cost on money.
Etymology of SILVIO GESELL
The word Silvio Gesell is not derived from any particular etymology as it is a proper noun referring to an individual. Silvio Gesell was an economist and social reformer from Germany who lived from 1862 to 1930. The name Silvio is of Latin origin and means wooded or forest. Gesell is a surname of German origin, derived from Middle High German geselle, meaning companion or fellow.
