Demurrage (money)

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Demurrage - the cost of money, the devaluation made by Silvio Gesella in his theory of the Natural Economic Order. According to the theory, money loses its value over time. Restoration of the initial value of money takes place after payment of the demurrage. These costs are what you keep for longer than necessary. The purpose of this mechanism is to force a continuous circulation of money. This type of currency Gesell called free money (Freigeld).

In this principle, supplementary currencies are introduced locally, in addition to the national currencies. The currency is chiemgauer - the local currency issued in 2003 in Prien am Chiemsee in Bavaria, Germany.

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