From Anarchy to Central Bank Policy: Silvio Gesell, Negative Interest Rates and Post-Crisis Monetary Policy
The dawn of negative interest rates has drawn much attention to the German economist and libertarian socialist Silvio Gesell (1862-1930) who proposed the measure in the early 20th century. Although the attention has led to countless mentions in economic journal articles and speeches conducted by central bankers, often, no further effort is made of going deeper into his work. This paper intends to
