Joseph Huber (economist)

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Joseph Huber in 2011. Joseph Huber 2011.jpg
Joseph Huber in 2011.

Joseph Huber (born 4 November 1948 in Mannheim) is a German sociologist and economist known for his contributions to monetary theory and environmental sociology. From 1992 to 2012, he served as the chair of economic and environmental sociology at Martin Luther University of Halle-Wittenberg, Germany. [1]

Contents

Academic career

Huber studied Human and Social Sciences at Heidelberg University and obtained a doctorate in Economics at the Free University of Berlin. [2]

Huber was a professor at Martin Luther University Halle-Wittenberg for twenty years, where he developed his theories on monetary systems and environmental innovation. His interdisciplinary approach combined economic sociology with environmental concerns, establishing him as a prominent voice in both fields. [1]

Monetary theory contributions

Sovereign money theory

Huber is recognized as a leading theorist in monetary reform, particularly for his work on sovereign money systems. [3] He coined the German term "Vollgeld" (meaning "sovereign money"), [4] which describes a monetary system where only the central bank has the authority to create money, eliminating the money creation privileges of commercial banks. [5]

His monetary theories argue that under the current fractional-reserve banking system, commercial banks effectively create money when they issue loans, with only partial backing from central bank reserves. Huber's sovereign money proposal would transfer this money creation function exclusively to central banks, with new money being issued debt-free to government treasuries for public benefit. [5]

Influence on reform movements

Huber's theoretical framework has provided an intellectual foundation for several European monetary reform movements: [3]

These movements promote the concept of sovereign money creation as a fourth branch of government, separate from executive, legislative, and judicial powers, [6] arguing this would benefit the public interest. [7]

The development of central bank digital currency (CBDC) has revived interest in his sovereign money concepts, as policymakers grapple with questions about who should control digital money creation. [8]

Environmental sociology

Huber is recognized as one of the founders of ecological modernization theory, which examines how societies can achieve economic growth while reducing environmental impact through technological innovation and policy reform. [9] His research in this area focuses on the relationship between technological development and environmental protection. [10] His environmental work emphasizes the role of innovation in addressing ecological challenges, examining how new technologies can be developed and diffused to create more sustainable economic systems. [11]

Selected publications

References

  1. 1 2 "Joseph Huber - Biography" . Retrieved 2 August 2022.
  2. ↑ Huber, Joseph (1979-09-01). "Limiting the system and reshaping lifestyles: Solving unemployment by social and technical innovations". Technological Forecasting and Social Change. 15 (1): 37–54. doi:10.1016/0040-1625(79)90064-7. ISSN   0040-1625.
  3. 1 2 Preiss, Bert; Brunner, Claudia (2013). Democracy in Crisis: The Dynamics of Civil Protest and Civil Resistance. LIT Verlag Münster. ISBN   978-3-643-90359-4.
  4. ↑ Fuders, Felix (2023-10-11). How to Fulfil the UN Sustainability Goals: Rethinking the Role and Concept of Money in the Light of Sustainability. Springer Nature. ISBN   978-3-031-37768-6.
  5. 1 2 Felber, Christian (2017-10-25). Money - The New Rules of the Game. Springer. ISBN   978-3-319-67352-3.
  6. ↑ Dietz, Raimund (2024-09-30). Economics as a Social Science: Civil Society and Its Money. Springer Nature. ISBN   978-3-658-45176-9.
  7. ↑ Weber, Beat (2018-05-17). Democratizing Money?: Debating Legitimacy in Monetary Reform Proposals. Cambridge University Press. ISBN   978-1-107-19581-3.
  8. ↑ Jr, Alfredo Pereira; Sousa, Francisco (27 October 2023). Principles for Governance: Strategies for Reducing Inequality and Promoting Human Development. Springer Nature. ISBN   978-3-031-40025-4.
  9. ↑ Scholz, Roland W.; Binder, Claudia R. (2011-07-21). Environmental Literacy in Science and Society: From Knowledge to Decisions. Cambridge University Press. ISBN   978-0-521-18333-8.
  10. ↑ Kaplan, David M. (2017-03-03). Philosophy, Technology, and the Environment. MIT Press. ISBN   978-0-262-03566-8.
  11. ↑ Schmidt, Michael; Onyango, Vincent; Palekhov, Dmytro (2011-05-13). Implementing Environmental and Resource Management. Springer Science & Business Media. ISBN   978-3-540-77568-3.
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