The productivity of the monetary capital is the interest.
This way interest prevents full employment.
Can you elaborate on this a bit please? I think I may be confused as to what definition of the word "interest" you are using here...
I mean interest as the basic interest described by Gesell. Basically the interest of loans excluding the risk premium.
Here's how he thinks the removal of interest (by demurrage on money) would affect the labor market:
http://www.community-exchange.org/docs/Gesell/en/neo/part4/5k.htmAlthough maybe reading the whole book is needed to understand (or believe) this chapter.
Yeah... I guess I just don't get it. How can money be free if the interest payment on money is often payment for time, and time is never free?...
Or maybe the author is just using a definition of "money" I'm not familiar with. though reading the Introduction to Free Money chapter, the entire "buy and attach stamps" idea is basically a more convoluted version of having inflationary money that inflated 5% a year...