The economist Silvio Gesell envisioned a monetary system centered upon the now established principles of Macro. Gesell whom was light years ahead of his time, developed his theory decades before John Maynard Keynes provided his own unique insights. Furthermore, both economists designed their theory on similar concepts, but it was Gesell whom outlined them first in 1891 with the publication of The Reformation of the Monetary system as a Bridge to a just State.
Silvio Gesell’s ideas were eventually implemented in small town along the Austrian border, and thus leading to the economic miracle of Worgl during the great depression. The experiment only lasted for a short period, but the monetary reform produced impressive results that current policy has yet to match.
—John Maynard Keynes, Economist, Fellow of King’s College, University of Cambridge/England
—Prof. Dr. Irving Fisher, economist at Yale University New Haven/USA