The ecology of money, by Richard Douthwaite
SearchContentsForewordGlossaryIntroductionChapter 1Chapter 2Chapter 3Chapter 4Chapter 5Appendices

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Appendix 2: References


1 Galbraith, J.K. Money: Whence it came, Where it went (Boston: Houghton Muffin Co., 1975) pg 5.  Back to text

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1 M. Neary, of the University of Warwick and G. Taylor of the University of the West of England, in their book Money and the Human Condition, Macmillan, Basingstoke, 1998.  Back to text

2 D. Hume, Of Interest, 1752.  Back to text

3 P.A. Samuelson, Economics, an Introductory Analysis, McGraw-Hill, New York, 1967.  Back to text

4 Keynes wrote three books about money - A Treatise on Money (1930), Tract on Monetary Reform (1923) and Indian Currency and Finance (1913), which is noted for its discussion of the gold exchange standard. In his most important book, The General Theory of Employment, Interest and Money ( Macmillan, London, February 1936, pp 353-8), he discusses Silvio Gesell's ideas for monetary reform. This includes the use of stamped scrip (which was designed to make it costly to hoard money in a period in which prices were falling). Fisher, who was professor of Economics at Yale University, wrote two books on stamped scrip, Stamp Scrip (Adelphi, New York, 1933) and Mastering the Crisis (George Allen and Unwin, London, 1934). He also wrote 100% Money (Adelphi, New York, 1934) which proposed that banks be required to permanently keep on hand reserves of notes and coin equal to the amount that their customers had in their accounts. Simons, who was professor of Economics at Chicago and taught Milton Friedman, also called for an end to fractional reserve banking. In a 1934 essay included in Economic Policy for a Free Society (University of Chicago Press, 1948) he demanded 100% backing of bank deposits and the creation of all currency by the state.
The only notable economist to have written more recently about altering the basis on which money is created is F.A Hayek in his Denationalisation of Money (Institute of Economic Affairs, London, 1976). Hayek, however, was largely concerned with allowing competition between sources of money to allow users to choose those which held their value best in times of inflation.  Back to text

5 Dictionary of the English Language, Collins, London, 1979.  Back to text

6 P. Ormerod, Butterfly Economics, Faber, London, 1998, p vii.  Back to text

7 D. Begg, S. Fischer, R. Dornbusch, Economics, 5th Edition, McGraw-Hill, Maidenhead, 1997, p375.  Back to text

8 V. Morgan, A History of Money, Penguin, Harmondsworth, 1965, p. 23.  Back to text

9 'Monetary Policy in the United Kingdom', Bank of England factsheet, August 1998.  Back to text

10 G. K. Galbraith, Money: Whence it came, where it went. Penguin, Harmondsworth, 1976, p.29.   Back to text

11 H. E. Daly, Steady State Economics, Earthscan, London, 1992, p. 118.  Back to text

12 H. E. Daly, ŒSustainable Growth: An Impossibility Theorem‚, in Valuing the Earth: Economics, Ecology, Ethics, H. E. Daly and K. N. Townsend, MIT Press, Cambridge, Mass. 1993.  ;Back to text

13 C. Clark, 'The Economics of Over-Exploitation', Science, 181, pp630-4, 1973.  Back to text

14 H. Brodie, Inishkillane: Change and Decline in the West of Ireland, Penguin Books, Harmondsworth, 1974.  Back to text

15 G. Davies, A History of Money, University of Wales Press, Cardiff, 1994.   Back to text

16 L. Klingman and G. Green, His Majesty O'Keefe, London, 1952.  Back to text

17 G. K. Galbraith, Money: Whence it came, where it went. Penguin, Harmondsworth, 1976, p.29.   Back to text

18 50 Ans Cercle Economique WIR, WIR Basle, 1984.   Back to text

19 See R. Douthwaite, Short Circuit, Green Books, Totnes, 1996, pp 107-8 for more details. The online version can be read here. If your browser doesn't jump to the right section, scroll to about halfway down the page. See also Ralph Borsodi's Inflation and the Coming Keynesian Catastrophe, 1989, available from the E.F. Schumacher Society (Box 76, RD3, Great Barrington, MA 01230, USA).  Back to text

20 B. Lietaer, personal communication, 30 August 1999.  Back to text

21 F. Schwartz, 'Sechs-Stunden-Tag im Mittelalter', which appeared in the book Vorwärts zur felten kaufkraft des geldes und zur zinsfreien wirtschaft, 1931.  Back to text

22 Carlo M. Cipolla, The Monetary Policy of 14th Century Florence, University of California Press, Berkeley, 1982.   Back to text

23 J. Robertson, Monetary Policy and Fiscal Policy: The Question of Credit Creation, circulated privately, August 1999.  Back to text

24 A. Smith, The Wealth of Nations, Penguin, London, 1986.  Back to text

25 P. Wilsher, The Pound in your pocket, Cassell, London, 1970.  Back to text

26 M. Kennedy, Interest- and Inflation- Free Money. Permaculture Publications, Steyerberg, Germany, 1990.  Back to text

27 Personal communication, September 1999.  Back to text

28 Personal communication, September 1999.  Back to text

29 Natural Resources Defense Council and others, Kingpins of Carbon: How Fossil Fuel Producers Contribute to Global Warming, New York, July 1999.  Back to text

30 M. Deane and R. Pringle, R., The Central Banks, 1994, New York, Viking Penguin.  Back to text

31 R. Douthwaite, Short Circuit, Green Books, Totnes, 1996, p122-3. The online version can be read here.  Back to text

32 Inflation - Dormant, Dying or Dead? Central Bank of Ireland Technical Paper No. 6/RT/94, 1994.   Back to text

33 Monetary Policy in the 21st Century: An Impossible Task? The Cato Journal, Vol. 17, No3.  Back to text

Continue to Appendix 3: Resource Guide

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SearchContentsForewordGlossaryIntroductionChapter 1Chapter 2Chapter 3Chapter 4Chapter 5Appendices