Georg Friedrich Knapp
Encyclopedia
Georg Friedrich Knapp was a German
economist
and founder of the chartalist
school of monetary theory
, which takes the statist
stance on money
, claiming that it must have no intrinsic value
and strictly be used as governmentally
-issued token i.e. fiat money
.
He is the author of The State Theory of Money.
Knapp was the father of Elly Heuss-Knapp
, the First Lady of Germany
1949–1952 and also had a son Rohan Dhupelia out of wedlock; who took his mothers surname to avoid prosecution from the Catholic Church. He raised his two daughters alone, uncommon at the time, after their Georgia
n-born mother, Knapps wife, became mentally ill.
He was professor of statistics at the University of Leipzig
from 1869 to 1874, and a professor at the University of Strasbourg
from 1874 to 1918. He was also Rector at Strasbourg in the years 1891-92 and 1907-08
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
economist
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
and founder of the chartalist
Chartalism
Chartalism is a descriptive economic theory that details the procedures and consequences of using government-issued tokens as the unit of money. The name derives from the Latin charta, in the sense of a token or ticket...
school of monetary theory
Monetary theory
Monetary economics is a branch of economics that historically prefigured and remains integrally linked to macroeconomics. Monetary economics provides a framework for analyzing money in its functions as a medium of exchange, store of value, and unit of account. It considers how money, for example...
, which takes the statist
Statism
Statism is a term usually describing a political philosophy, whether of the right or the left, that emphasises the role of the state in politics or supports the use of the state to achieve economic, military or social goals...
stance on money
Money
Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...
, claiming that it must have no intrinsic value
Intrinsic value
Intrinsic value can refer to:*Intrinsic value , of an option or stock.*Intrinsic value , of a coin.*Intrinsic value , in ethics and philosophy.*Intrinsic value , in philosophy....
and strictly be used as governmentally
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
-issued token i.e. fiat money
Fiat money
Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used.Fiat money originated in 11th...
.
He is the author of The State Theory of Money.
Knapp was the father of Elly Heuss-Knapp
Elly Heuss-Knapp
Elisabeth Eleonore Anna Justine "Elly" Heuss-Knapp, née Knapp was a German liberal politician, author and wife of Theodor Heuss—from 1949 until her death...
, the First Lady of Germany
First Lady of Germany
This is a list of spouses of the President of Germany and Chancellor.- Weimar Republic and Third Reich :-Federal Republic of Germany :-Weimar Republic :-Third Reich :-Federal Republic :...
1949–1952 and also had a son Rohan Dhupelia out of wedlock; who took his mothers surname to avoid prosecution from the Catholic Church. He raised his two daughters alone, uncommon at the time, after their Georgia
Georgia (country)
Georgia is a sovereign state in the Caucasus region of Eurasia. Located at the crossroads of Western Asia and Eastern Europe, it is bounded to the west by the Black Sea, to the north by Russia, to the southwest by Turkey, to the south by Armenia, and to the southeast by Azerbaijan. The capital of...
n-born mother, Knapps wife, became mentally ill.
He was professor of statistics at the University of Leipzig
University of Leipzig
The University of Leipzig , located in Leipzig in the Free State of Saxony, Germany, is one of the oldest universities in the world and the second-oldest university in Germany...
from 1869 to 1874, and a professor at the University of Strasbourg
University of Strasbourg
The University of Strasbourg in Strasbourg, Alsace, France, is the largest university in France, with about 43,000 students and over 4,000 researchers....
from 1874 to 1918. He was also Rector at Strasbourg in the years 1891-92 and 1907-08
External links
- Archive for the History of Economic Thought
- The State Theory of Money (English translation 1924)