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...
Is not the same as inflation. With demurrage you can have a stable monetary base while increasing it leads to malinvestments, creating for some time the illusion that there's more resources available than exist in reality.
The time preference theory of interest is a source of conflict between Gesell and the austrian school. He calls it "abstinence theory". Maybe this helps:
http://www.community-exchange.org/docs/Gesell/en/neo/part4/5m.htmI still recommend to read the whole text.
Also Bernard Liater explains how interest promotes short term thinking. In the page 34 of
this pdf (chapter "What do we invest in?") there's a simple example.
He states "Short-term thinking is not intrinsic to human nature, but created by todays money system".
I have not read his book "The future of money" but I want to do it (if anyone finds it for free in the web, please give me the link).
I've just read some of his articles and watched some interviews, but he's an interesting man.