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Theory of Money and Credit, The

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Mises wrote this book for the ages, and it remains the most spirited, thorough, and scientifically rigorous treatise on money to ever appear.
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Mises wrote this book for the ages, and it remains the most spirited, thorough, and scientifically rigorous treatise on money to ever appear. It made his reputation across Europe and established him as the most important economist of his age.

We think this Mises Institute edition is the most beautiful, by far, of any edition in print. It is the first English edition, complete with an explanatory foreword by Murray Rothbard and a preface by Douglas French. The size, look, and feel are just perfect, at once classic and very modern, in a case-wrapped hardback. And the price beats everything.

This classic treatise on monetary theory remains the definitive book on the foundations of monetary theory, and the first really great integration of microeconomics and macroeconomics. As Rothbard points out in his introduction to "the best book on money ever written," economists have yet to absorb all its lessons.

Mises shows how money had its origin in the market, and how its value is based on its usefulness as a commodity in exchange. In a step-by-step manner, Mises presents the case for sound money with no inflation, and presents the beginnings of a full-scale business cycle theory. This edition includes Mises's early blueprint, improved later in life, for a return to a fully backed gold standard and competitive banking.

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by Luis Mauricio Jiménez
on 12/6/2010
The philosopher stone on economics !
This book is a milestone on economics, a high intellectual debate on monetary theories and business cycles. The currency school vs banking school debate is the cornerstone of Mises theory in which He expound banks expansion of credit through the discount of bills and not merely by government inflation, He develops a new non mathematical treatment of economics based on Franz Cuhel theory, and also pioneer the application of Austrian marginalist law on Money. This is a 100% guarantee product, as Anderon says 'In von Mises there seems to me to be very noteworthy clarity and power. His Theorie des Geldes und der Umlaufsmittel is an exceptionally excellent book "
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The contents of this essential opus include:

  • Part One: The Nature of Money
    • 1. The Function of Money
    • 2. On the Measurement of Value
    • 3. The Various Kinds of Money
    • 4. Money and the State
    • 5. Money as an Economic Good
    • 6. The Enemies of Money

  • Part Two: The Value of Money
    • 7. The Concept of the Value of Money
    • 8. The Determinants of the Objective Exchange Value, or Purchasing Power, of Money
    • 9. The Problem of the Existence of Local Differences in the Objective Exchange Value of Money
    • 10. The Exchange Ration Between Money of Different Kinds
    • 11. The Problem of Measuring the Objective Exchange Value of Money
    • 12. The Social Consequences of Variations in the Objective Exchange Value of Money
    • 13. Monetary Policy
    • 14. The Monetary Policy of Etatism

  • Part Three: Money and Banking
    • 15. The Business of Banking
    • 16. The Evolution of Fiduciary Media
    • 17. Fiduciary Media and the Demand for Money
    • 18. The Redemption of Fiduciary Media
    • 19. Money, Credit, and Interest
    • 20. Problems of Credit Policy

  • Part Four: Monetary Reconstruction
    • 21. The Principle of Sound Money
    • 22. Contemporary Currency Systems
    • 23. The Return to Sound Money

  • Appendix A. On the Classification of Monetary Theories
ISBN 9781933550558
eISBN 9781610163224
Publisher Ludwig von Mises Institute
Publication Date 2009
Binding HC
Page Length 512

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