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New Money Hub, 3 pgs.
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Reviewer comment:
This is Mr. Kampa's summary of his concepts derived from study of
Mitchell-Innes' essays on the nature of money. His oganization is both a 'think
tank' that studies the theory of money and economic systems and also the
creator and purveyor of a 'decentralized money platform" meaning a crypto
currency. This system is used to transfer assets peer-to peer by means of
exchange of credit instruments rather than bank-produced money. It is based on
his concept expressed in the Credit Conversion Theory of Money. This
aspect of his work is found at www.sikoba.com.
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Credit Theory of money -
He describes what Mitchell- Innes published in 1913 as an article titled:
"What is Money". The article was reviewed by Lord Keynes who
described it as 'not worth discussing' and then other wise forgotten. In 1914
Mitchel-Inned published another article titled "The Credit Theory of
Money". In these articles Mitchell-Innes refuted the theory that metalic
coins were money and instead insisted that 'credit alone is money'. Mr. Kampa
notes that he has republished these articles including Keynes' review and the
articles were also republished by L. Randall Wray.
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Mitchell-Innes forgotten and (partly) rediscovered
Mr. Kampa notes that is appears that Lord Keynes actually did incorporate some
of Mitchell_Innes' ideas in his "Treatise on Money" but without
attribution. Randall Wray in his 1990 republication states that he believes the
Mitchell-Innes articles are the best on the subject of the nature of money
published in the 20th century. He also quotes David Graber in the latter's
excellent book, Debt, that Mitchell-Innes' works laid the groundwork for
understanding money. Even so, Mr. Kampa comments that Innes' published essays
are not known even in establishment graduate economics departments.
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A thoroughly modern approach
Mr. Kampa's assessment: "Overall, however, his (Innes') theory rings true.
it is consistent andforceful" and "remain relevant to modern monetary
theory". For one important issue, he notes that Mitchell-Innes 'debunks'
the 'story that money originated from barter'. This is indeed a significant
refutation. It agrees with Graber and other anthropoligists. But it is still
denounced by libertarian economists such as Rothbard and by others not of the
'modern money theory' school. Kampa also notes that Mitchell-Innes also
dismissed the idea that money was expressed in gold coins.
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Writings on criminal justice
Mr Kampa adds by noting that Mitchell-Innes also wrote about the problems with
the then standards of criminal justice procedures.
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Alex Kampa - Money, Credit Conversion and the legacy of
Mitchell-Innes.
This is Mr. Kampa's major article on this whole topic.
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Alex Kampa - New Money Hub - Can interest ever be repaid?
A brief comment on this issue based on the author's understanding of money.
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Alex Kampa - New Money Hub - What is money ?- article by A.
Mitchell Innes -
The author's summary of the work of Mitchell-Innes
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Alex Kampa - Debunking the three functions of money
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Alex Kampa - New Money Hub - Economics
In this one page item the author so correctly writes:
"Economy is not a science and cannot be approached as such. At the basis
of every economic sysem is a specxific view of how humans should live together.
He believes economics is actually a branch (or component) of moral philosophy.
He is certainly not alone in that belief. My own thought is that economists
today are 'secular theologians'.
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Georg Simmel - The Philosophy of Money The Wikipedia entry on
the book
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Georg Simmel - The Philosophy of Money An outline and comment on
the book
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Georg Simmel - The Philosophy of Money A PDF edition of the
entire book
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