Wörgl
Encyclopedia
Wörgl is a town in Tyrol
, Austria
, in the Kufstein
district. It is 20 km from the state border with Bavaria
.
to Munich
, and the inner-Austrian line to Salzburg
. Its railway station
has been designated as a Hauptbahnhof since 10 December 2006.
European route E641
connects Wörgl with Salzburg
, the routes E45
and E60
(Austrian autobahn A12) pass through Wörgl.
, a small village of just over 1,000 inhabitants in the Czech Republic
. Suwa, Nagano
, Japan
. It was started on the 31st of July 1932 with the issuing of "Certified Compensation Bills", a form of currency
commonly known as Stamp Scrip
, or Freigeld
. This was an application of the monetary theories of the economist
Silvio Gesell
by the town's then mayor, Michael Unterguggenberger.
The experiment resulted in a growth in employment
and meant that local government projects such as new houses, a reservoir , a ski jump and a bridge could all be completed, seeming to defy the depression in the rest of the country. Inflation
and deflation are also reputed to have been non-existent for the duration of the experiment.
Despite attracting great interest at the time, including from French Premier Edouard Daladier and the economist Irving Fisher
, the "experiment" was terminated by the Austrian National Bank on the 1st September 1933 on the basis of the "Certified Compensation Bills" being a threat to the Bank's monopoly
on printing money because there were other cities in Austria willing to join the experiment (Linz, Steyr and more).
In 2006 milestones were placed, beginning from the railroad station through the downtown, to show this history, on top of questioning the authenticity of never-ending exponential growth triggered by the compound interest.
Tyrol (state)
Tyrol is a state or Bundesland, located in the west of Austria. It comprises the Austrian part of the historical region of Tyrol.The state is split into two parts–called North Tyrol and East Tyrol–by a -wide strip of land where the state of Salzburg borders directly on the Italian province of...
, Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
, in the Kufstein
Kufstein (district)
The Bezirk Kufstein is an administrative district in Tyrol, Austria. It borders Bavaria in the north, the Kitzbühel district in the southeast, and the Schwaz district in the southwest....
district. It is 20 km from the state border with Bavaria
Bavaria
Bavaria, formally the Free State of Bavaria is a state of Germany, located in the southeast of Germany. With an area of , it is the largest state by area, forming almost 20% of the total land area of Germany...
.
Transport
Wörgl is an important railway junction between the line from InnsbruckInnsbruck
- Main sights :- Buildings :*Golden Roof*Kaiserliche Hofburg *Hofkirche with the cenotaph of Maximilian I, Holy Roman Emperor*Altes Landhaus...
to Munich
Munich
Munich The city's motto is "" . Before 2006, it was "Weltstadt mit Herz" . Its native name, , is derived from the Old High German Munichen, meaning "by the monks' place". The city's name derives from the monks of the Benedictine order who founded the city; hence the monk depicted on the city's coat...
, and the inner-Austrian line to Salzburg
Salzburg
-Population development:In 1935, the population significantly increased when Salzburg absorbed adjacent municipalities. After World War II, numerous refugees found a new home in the city. New residential space was created for American soldiers of the postwar Occupation, and could be used for...
. Its railway station
Wörgl Hauptbahnhof
Wörgl Hauptbahnhof is the main station of Wörgl, a city in the Kufstein district of the Austrian federal state of Tyrol, about 20 km from the state border with Bavaria.- External links :...
has been designated as a Hauptbahnhof since 10 December 2006.
European route E641
European route E641
European route E 641 is a secondary E-road in Austria and Germany.It starts at Wörgl, Austria, where it is connected with European route E 45 and E 60 ....
connects Wörgl with Salzburg
Salzburg
-Population development:In 1935, the population significantly increased when Salzburg absorbed adjacent municipalities. After World War II, numerous refugees found a new home in the city. New residential space was created for American soldiers of the postwar Occupation, and could be used for...
, the routes E45
European route E45
The European route E 45 goes between Sweden and Italy, through Denmark, Germany and Austria. With a length of about , it is the longest north-south European route...
and E60
European route E60
European route E 60 is a E-road running from Brest, France , to Irkeshtam, Kyrgyzstan...
(Austrian autobahn A12) pass through Wörgl.
Twin cities
Albrechtice nad OrlicíAlbrechtice nad Orlicí
Albrechtice nad Orlicí is a village in the Hradec Králové Region of the Czech Republic. It is located southeast of Hradec Králové and has a population of 1,049 .-External links:*...
, a small village of just over 1,000 inhabitants in the Czech Republic
Czech Republic
The Czech Republic is a landlocked country in Central Europe. The country is bordered by Poland to the northeast, Slovakia to the east, Austria to the south, and Germany to the west and northwest....
. Suwa, Nagano
Suwa, Nagano
is a city located in Nagano, Japan.As of October 1, 2010, the city had an estimated population of 51,084 and a density of 468.40 persons per km². The total area of the city is 109.06 km²....
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
The Wörgl Experiment
Wörgl was the site of the "Miracle of Wörgl" during the Great DepressionGreat Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...
. It was started on the 31st of July 1932 with the issuing of "Certified Compensation Bills", a form of currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
commonly known as Stamp Scrip
Scrip
Scrip is an American term for any substitute for currency which is not legal tender and is often a form of credit. Scrips were created as company payment of employees and also as a means of payment in times where regular money is unavailable, such as remote coal towns, military bases, ships on long...
, or Freigeld
Freigeld
In the theory of Freiwirtschaft, Freigeld is a monetary unit proposed by Silvio Gesell.- Properties :Freigeld has several special properties:...
. This was an application of the monetary theories of the economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
Silvio Gesell
Silvio Gesell
Silvio Gesell was a German merchant, theoretical economist, social activist, anarchist and founder of Freiwirtschaft.-Life:...
by the town's then mayor, Michael Unterguggenberger.
The experiment resulted in a growth in employment
Employment
Employment is a contract between two parties, one being the employer and the other being the employee. An employee may be defined as:- Employee :...
and meant that local government projects such as new houses, a reservoir , a ski jump and a bridge could all be completed, seeming to defy the depression in the rest of the country. Inflation
Inflation
In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a...
and deflation are also reputed to have been non-existent for the duration of the experiment.
Despite attracting great interest at the time, including from French Premier Edouard Daladier and the economist Irving Fisher
Irving Fisher
Irving Fisher was an American economist, inventor, and health campaigner, and one of the earliest American neoclassical economists, though his later work on debt deflation often regarded as belonging instead to the Post-Keynesian school.Fisher made important contributions to utility theory and...
, the "experiment" was terminated by the Austrian National Bank on the 1st September 1933 on the basis of the "Certified Compensation Bills" being a threat to the Bank's monopoly
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
on printing money because there were other cities in Austria willing to join the experiment (Linz, Steyr and more).
In 2006 milestones were placed, beginning from the railroad station through the downtown, to show this history, on top of questioning the authenticity of never-ending exponential growth triggered by the compound interest.
Notable personalities
- Reinhard Furrer, a German scientist and astronautAstronautAn astronaut or cosmonaut is a person trained by a human spaceflight program to command, pilot, or serve as a crew member of a spacecraft....
, was born in Wörgl. - Gerhard BergerGerhard BergerGerhard Berger, is an Austrian former Formula One racing driver, who previously owned 50% of the Scuderia Toro Rosso Formula One team until he sold his share back to energy drink owner Dietrich Mateschitz in November 2008....
, a former Formula OneFormula OneFormula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship, is the highest class of single seater auto racing sanctioned by the Fédération Internationale de l'Automobile . The "formula" designation in the name refers to a set of rules with which...
driver and former co-owner of Scuderia Toro RossoScuderia Toro RossoScuderia Toro Rosso , also known simply as Toro Rosso or by its abbreviation STR, is an Italian Formula One racing team...
, was born in Wörgl. - Stefan HorngacherStefan HorngacherStefan Horngacher is a former Austrian ski jumper who competed from 1988 to 2002. He won a bronze medal in the team large hill in the Winter Olympics in both 1994 and 1998...
, an Olympic ski jumperSki jumpingSki jumping is a sport in which skiers go down a take-off ramp, jump and attempt to land as far as possible down the hill below. In addition to the length of the jump, judges give points for style. The skis used for ski jumping are wide and long...
, was born in Wörgl. - Hans Hömberg, a German film-director, dramatist and author, lived in Wörgl in his later years.
- Heinz Zak, an extreme climber and photographer, was born in Wörgl.
- Hans Peter Haselsteiner, a building tycoon and former deputy chair of the Liberal ForumLiberal ForumThe Liberal Forum is a small classical liberal party in Austria. The party is currently led by Angelika Mlinar, and is a member of the Liberal International and the European Liberal Democrat and Reform Party.-Founding:...
, was born in Wörgl.