Loan money
Loan money is a term used by Rudolf Steiner of the term trio Kaufgeld , Leihgeld, Schenkgeld , which he and his students used and continues to use in the context of the threefold idea of the social organism.
In contrast to the purchase money with which consumer goods can be acquired, the loan money has only as much value as corporate capital as the production manager (or several managers) has the ability to create something out of the credit, to produce something. In the extreme case, the borrower is completely incompetent and the lender receives neither interest nor repayment, as z. B. occurs with so-called risk capital . Means of production acquired with the loan money then logically have no value any more, just like real estate by nature, and consequently, according to Steiner, can no longer be sold in real terms. If that happens anyway, according to Steiner, you are dealing with a realized untruthfulness that has harmful effects on the social fabric.
Once the entrepreneur has acquired means of production with loan money, he can never again convert this into purchase money. He can only take his profit from the company, after deducting the costs, as long as he runs it. Depending on the type and associated duration of the enterprise, the entrepreneur will borrow new or older money (money getting old ), with the new money having a higher nominal value with the same numerical value, since it can be used to pay for longer. Accordingly, the lender will receive interest longer on young money than on older money. If the loan money has reached the point of death or devaluation, it can only become gift money.
literature
- Economics course. Fourteen lectures, given in Dornach from July 24th to August 6th 1922 for students of political economy, complete edition No. 340, 5th edition, Dornach (Switzerland) 1970