I hadn't read Silvio Gesell. I only knew about him from Chapter 23 of Keynes' General Theory, from Miles Kimball's post on Gesell's plan for negative interest rates on money, and from the Wikipedia entry. But I'm halfway through writing a paper on Keynes vs Gesell, so I thought I should probably actually read him. Fortunately, I found his book online, so I didn't have to try to find the Carleton library.
Obviously he's a bit of a nut, but monetary economics does seem to attract nuts. Great monetary economists like Wicksell and Fisher were a bit nutty too. I set his nuttiness aside, because it comes with the territory.
I mostly ignored the rest of his book, and stuck to the monetary bits. I did quickly sample what he says about the determination of interest rates, where he seems to be a bit out to lunch.
But when it comes to money, he's one of us! At least, he's a lot closer to me than I ever imagined he would be. I like this guy!
This is not History of Thought. I am not placing Gesell in historical context or trying to give an accurate or complete account of his thought. I am looking back on Gesell from 2015, and reporting what he looks like when seen through my eyes. I am especially interested in his proposed monetary policy. But I need to look at his monetary theory to see where his monetary policy is coming from.