Given the renewed interest in negative interest rates, this article analyses Gesell’s theory of interest and its … connection to J. M. Keynes’ General Theory. Gesell recognised that money has little or no carrying costs in comparison to goods …, Keynes himself expressively acknowledged Gesell’s ‘flashes of deep insight’ in the General Theory. In fact, the theoretical …

questions and preparing Thünen's theory of capital and interest. Thünen starts his analysis with a description of the … extended quantity theory of money by introducing the velocity of money transactions and formulating the correct algebraic … twentieth century and from the perspective of modern monetary theory, Thünen's drafts are an unexpected discovery and of …