1. The property economic perspective
Money & Finance
The property economic perspective
Pascal van Griethuysen PhD in Evolutionary Economics Research Fellow at UN Research Institute for Social Development
Executive in Residence at Geneva Centre for Security Policy
Roundtable in Human Centered Economics Inter-University Centre, Dubrovnik, Croatia February 1-3, 2017

2. Explaining capitalist directing force
PROPERTY ECONOMICS’ INTERPRETATION
Veblen (1904), Heinsohn & Steiger (1996), Soto (2000)
property: constitutive institution of capitalism
property dual potential
material: concrete exploitation of resources (direct income)
financial: engaging property in capitalisation processes (indirect)
proprietors' cumulative enrichment
capitalist self-expansionary nature

3. Capitalist Economy
SOUND BANKING
money creation / emission
3 pillars securitisation collateral, debtor’s solvency + reserves
stable value (strong currency)

4. CAPITALIST SELF EXPANSION
Property Economy
CAPITALIST SELF EXPANSION
money
creation
Property material & immaterial assets
Financed activities
monetary return
monetary return
circular & cumulative property self-expansion
Condition :
↗ monetary value of engaged property

5. END : ↗ property value = monetary growth
MEANS ?
physical growth ( spatial expansion, biotic resources overexploitation, industrialisation, mineral resources depletion )
commercial strategies ( lay-off, delocalisation, marketing, advertising )
institutional strategies ( commodification, enclosure, market creation; selective deregulation & liberalisation )
profit driven innovations ( technical, commercial, financial & institutional )
property capitalisation & concentration ( acquisitions & fusions )

6. Implementing the transition INTEGRATED MULTI-LEVEL STRATEGY
regulating capitalisation
money
creation
orienting investments
scoping property
Property
Financed activities
monetary return
allocating returns
confining expansion