Theory of money and credit
19.99 €
In stock
Theory of money and credit
19.99 €
This volume contains all the works of Ludwig von Mises (1881-1973) devoted to the theory of money. In his book "Theory of Money and Fiduciary Means of Circulation" (1912), the author, in particular, integrated the theory of marginal utility and the theory of money, solving a fundamental economic-theoretical problem, which before him was considered insoluble. This solution he put in the basis of the theory of the value of money, treated as an independent class of goods (along with consumer goods and production goods), refuted the concept of neutrality of money, developed an exhaustive typology of monetary means of exchange. The concept of fiduciary means of circulation introduced by Mises (a specific type of money substitutes) allowed him to give a correct economic-theoretical description of banking activity and put forward the theory of the economic cycle. Of particular interest is the analysis of the consequences of inflation -- Mises identified its role in the redistribution of wealth from one economic group to another, investigated its effect on deferred payments, and explained how the policy of inflation (primarily in the form of credit expansion) generates a mechanism of alternating artificial booms and destructive crises (the so-called economic cycle). The present volume includes a chapter of the treatise "Human Activity" (1949), in which his Mises theory of money took its finalized form ("Indirect Exchange"). Other monographs and articles in which the author explores certain aspects of the theory of money are also published here.
See also:
- All books by the publisher
- All books by the author