#3399. Wilhelm Lautenbach’s credit mechanics–a precursor to the current money supply debate

October 2026publication date
Proposal available till 23-05-2025
4 total number of authors per manuscript0 $

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Journal’s subject area:
Arts and Humanities (all);
History and Philosophy of Science;
Economics, Econometrics and Finance (miscellaneous);
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Abstract:
This research assesses the theory of credit mechanics within the context of the current money supply debate. Credit mechanics and related approaches were developed by a group of German monetary economists during the 1920s-1960s. Credit mechanics overcomes a one-sided, bank-centric view of money creation, which is often encountered in monetary theory. The availability of loan security; and the behaviour of non-banks and non-borrowing bank creditors. With the standard textbook models of money creation now discredited, we argue that a more general approach to money supply theory involving credit mechanics needs to be re-established.
Keywords:
Bank credit creation; borrowers’ collateral; credit and balances mechanics; E40; E41; E50; E51; money theory

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