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The Theory of Money and Credit integrated monetary theory into the main body of economic analysis for the first time, providing fresh, new insights into the nature of money and its role in the economy and bringing Mises into the front rank of European economists. The Theory of Money and Credit also presented a new monetary theory of the trade cycle, which, under further The Theory of Money and Credit integrated monetary theory into the main body of economic analysis for the first time, providing fresh, new insights into the nature of money and its role in the economy and bringing Mises into the front rank of European economists. The Theory of Money and Credit also presented a new monetary theory of the trade cycle, which, under further development by Mises’s student Nobel Laureate F. A. Hayek, came to challenge all previous trade-cycle theories. Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. Please note: This title is available as an ebook for purchase on Amazon, Barnes and Noble, and iTunes.


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The Theory of Money and Credit integrated monetary theory into the main body of economic analysis for the first time, providing fresh, new insights into the nature of money and its role in the economy and bringing Mises into the front rank of European economists. The Theory of Money and Credit also presented a new monetary theory of the trade cycle, which, under further The Theory of Money and Credit integrated monetary theory into the main body of economic analysis for the first time, providing fresh, new insights into the nature of money and its role in the economy and bringing Mises into the front rank of European economists. The Theory of Money and Credit also presented a new monetary theory of the trade cycle, which, under further development by Mises’s student Nobel Laureate F. A. Hayek, came to challenge all previous trade-cycle theories. Ludwig von Mises (1881–1973) was the leading spokesman of the Austrian School of economics throughout most of the twentieth century. Please note: This title is available as an ebook for purchase on Amazon, Barnes and Noble, and iTunes.

30 review for The Theory of Money and Credit

  1. 5 out of 5

    Luis Jiménez

    If you want to become like Jim Rogers, Marc Faber, Peter Schiff, you need to read and understand this book, otherwise you will be only an amateur on financial markets, this book alone with Mises 1928 monograph are the best books on money ever, becareful you need to have some background on Menger,Bohm-Bawerk and Banking theories, Take a breath and open your mind into the best book on money ever !

  2. 5 out of 5

    Alkek Library

    As most of the Western world continues to believe that monetization of debt has no real consequences, it is important to point out that not everyone shares this view. Ludwig von Mises's The Theory of Money and Credit takes the opposite view. This book belongs to what is called "The Austrian School" - the concept that the expansion of the money supply and/or credit will have real - although not always apparent - consequences. The heart of much contention is a debate over the nature of economic acti As most of the Western world continues to believe that monetization of debt has no real consequences, it is important to point out that not everyone shares this view. Ludwig von Mises's The Theory of Money and Credit takes the opposite view. This book belongs to what is called "The Austrian School" - the concept that the expansion of the money supply and/or credit will have real - although not always apparent - consequences. The heart of much contention is a debate over the nature of economic activity. Is the economy largely organic or is the economy basically created and guided by the state? Von Mises, of course, believes that the economy functions best without government intervention in the money supply (which can take many forms). This is a debate that many people are having, and it behooves you to read up on more specific points like the business cycle, potential price distortions in the market, demand, and international trade. My favorite point: creating money does not always produce obvious inflation if it prices goods out of the reach of ordinary people. Hmmm.....

  3. 4 out of 5

    Charles Allan

    As most of the Western world continues to believe that monetization of debt has no real consequences, it is important to point out that not everyone shares this view. Ludwig von Mises's The Theory of Money and Credit takes the opposite view. This book belongs to what is called "The Austrian School" - the concept that the expansion of the money supply and/or credit will have real - although not always apparent - consequences. The heart of much contention is a debate over the nature of economic acti As most of the Western world continues to believe that monetization of debt has no real consequences, it is important to point out that not everyone shares this view. Ludwig von Mises's The Theory of Money and Credit takes the opposite view. This book belongs to what is called "The Austrian School" - the concept that the expansion of the money supply and/or credit will have real - although not always apparent - consequences. The heart of much contention is a debate over the nature of economic activity. Is the economy largely organic or is the economy basically created and guided by the state? Von Mises, of course, believes that the economy functions best without government intervention in the money supply (which can take many forms). This is a debate that many people are having, and it behooves you to read up on more specific points like the business cycle, potential price distortions in the market, demand, and international trade. My favorite point: creating money does not always produce obvious inflation if it prices goods out of the reach of ordinary people. Hmmm.....

  4. 5 out of 5

    Kenn

    This was surprisingly readable once I got into it (I expected von Mises to be impenetrable). Critics will say it has not aged well since some things von Mises posits as impossible have come to pass. I'm actually not sure our current, completely-untethered-to-gold money system will remain indefinitely intact, but I doubt von Mises would have believed it would endure 35+ years, which it has. Still, I found myself agreeing with the basic thesis that money is too important to entrust to government, This was surprisingly readable once I got into it (I expected von Mises to be impenetrable). Critics will say it has not aged well since some things von Mises posits as impossible have come to pass. I'm actually not sure our current, completely-untethered-to-gold money system will remain indefinitely intact, but I doubt von Mises would have believed it would endure 35+ years, which it has. Still, I found myself agreeing with the basic thesis that money is too important to entrust to government, even a theoretically apolitical part of it like a central bank. The temptation to expand monetary issue, stealing little by little from the holders of money until a crisis occurs, is a problem I cannot see any way to avoid but removing the power over money from government altogether.

  5. 4 out of 5

    David Mears

    a dense and somewhat difficult book on the nature of money, the reasons for interest, the effects of inflation, and the justifications for metal currency. The arguments that it refutes soundly I still hear today, but they are no more correct now than then, and I think this holds up quite well with the passing of time, and is a good point of reference for arguments against deficit spending and inflationary policies. Far more self consistent than the competition.

  6. 4 out of 5

    Strong Extraordinary Dreams

    In the end I couldn't follow this as an audiobook. I didn't abandon it because it wasn't interesting, 'twas very interesting. Basically monetarism + geography + time + humans. Delivers a constant stream of iinteresting ideas (Keynesiasm as inflationary disaster, inflation as a very uneven redistribution - banks first.) But this book is from way back, before the current era of a completely false economy In the end I couldn't follow this as an audiobook. I didn't abandon it because it wasn't interesting, 'twas very interesting. Basically monetarism + geography + time + humans. Delivers a constant stream of iinteresting ideas (Keynesiasm as inflationary disaster, inflation as a very uneven redistribution - banks first.) But this book is from way back, before the current era of a completely false economy

  7. 4 out of 5

    Arsen Zahray

    This is a nice booklet, but Human Action is a better book, and it contains a section on monetary policy, and this book doesn't add anything to it This is a nice booklet, but Human Action is a better book, and it contains a section on monetary policy, and this book doesn't add anything to it

  8. 5 out of 5

    Jared Tobin

    Being on a particular topic in economics, The Theory of Money and Credit struck me as a clearer and more focused effort than did Mises's magnus opus, the possibly better-known Human Action. There is no waxing on the virtues of praxeology here; instead, Mises writes exhaustively and with precision solely on the natures of money and credit, and almost always with a dispassionate, analytical, and careful disposition (pace Rothbard, for example). The result is a lengthy tome on money and credit, wri Being on a particular topic in economics, The Theory of Money and Credit struck me as a clearer and more focused effort than did Mises's magnus opus, the possibly better-known Human Action. There is no waxing on the virtues of praxeology here; instead, Mises writes exhaustively and with precision solely on the natures of money and credit, and almost always with a dispassionate, analytical, and careful disposition (pace Rothbard, for example). The result is a lengthy tome on money and credit, written by a master, as far as one could understand the subject prior to the Great Depression. And to be honest, I'm not entirely sure how much knowledge of the subject has really improved since. Surely as far as micro is concerned there is little that Mises has left out (probably the most interesting, developed after Mises published this work, would be game-theoretic explanations for the emergence of monetary standards via coordination games). From a macro standpoint -- I'm afraid I can't really say. I feel as if almost all of 20th century macro can be dispensed outright; I'll have to review what I think I know about the Depression and the monetarists and such and see if, in hindsight & post-Mises, I reckon anyone from Keynes onward actually had anything useful to contribute. There's probably something or other useful that I'm forgetting, but somehow I doubt I'll reckon that Mises missed very much.

  9. 4 out of 5

    Benjamin Brasford

    Awesome read. Very comprehensive. I will be reading this one again. It is difficult to review this book. The original content and the addendum that Mises made later are well worth the read. Both the original content and the addendum, Part Four, are within this binding and edition. I recommend that anyone who cares about Economics, whether you are of the Austrian School persuasion or not, read this book.

  10. 4 out of 5

    Radu

    Although a little dated, the majority of Ludwig Von Mises' arguments regarding government intervention being the primary cause of uncontrollable inflation without a gold standard to stabilise currency still hold water even today... and it wouldn't be a book by Von Mises unless he continued in his criticisms towards socialist and Keynesian monetary theory. Definitely something to read slowly, but still an excellent and insightful read. Although a little dated, the majority of Ludwig Von Mises' arguments regarding government intervention being the primary cause of uncontrollable inflation without a gold standard to stabilise currency still hold water even today... and it wouldn't be a book by Von Mises unless he continued in his criticisms towards socialist and Keynesian monetary theory. Definitely something to read slowly, but still an excellent and insightful read.

  11. 4 out of 5

    Matthias

    Good read if you want to understand what money was until 1500-1600, useless if you want to actually understand money after that. LvM insists on bringing forward his own personal opinions regardless of 400+ years of historical evidence falsifying them. Much more annoying than this fact, of course, are the ones who, more than a hundred years later, point to this book saying it was right: surreal.

  12. 4 out of 5

    Thelma Daniel

    If you want to upgrade your credit score permanently, S W I F T C R E D I T R E P A I R 2 6 at G M A I L d0t C 0 M. is the one you should go to. I have done a lot of hacks with him over the last couple of years. He is a professional and you can always rely on him no matter what.

  13. 5 out of 5

    Chris Richardson

    Dense

  14. 4 out of 5

    Hodey Johns

    Amazing concepts, more about currency than economy. Very hard to read, doesn't flow well, but the single line quotes are among the best you'll find in any novel. Amazing concepts, more about currency than economy. Very hard to read, doesn't flow well, but the single line quotes are among the best you'll find in any novel.

  15. 5 out of 5

    Eve

    Stopped at page 60, not engaging

  16. 5 out of 5

    Richard Marney

    This was reading number two. Product warning - I am not a believer in the Austrian School (non-interventionism in the a world of periodic, weak aggregate demand, long-term unemployment and growing inequality makes no sense to me on a human level, nor as an economist). As we all know, it is challenging to read what one disputes. This is especially true with faced with turgid and convulated prose. Slow and painful progress. In this book, the theory of money is not realistic, even if giving allowan This was reading number two. Product warning - I am not a believer in the Austrian School (non-interventionism in the a world of periodic, weak aggregate demand, long-term unemployment and growing inequality makes no sense to me on a human level, nor as an economist). As we all know, it is challenging to read what one disputes. This is especially true with faced with turgid and convulated prose. Slow and painful progress. In this book, the theory of money is not realistic, even if giving allowance for time of the study's publication. In the contemporary world, the view of a money as simple transactional commodity, as opposed to the true roles money and monetary policy must play, seems the stuff of a goecentric view of the heavens. On a laughable, but still scary note, I seem to remember a recent Republican VP candidate saying she carried this book with her to the beach......

  17. 4 out of 5

    Sean Rosenthal

    Interesting Quotes: "Arguments from authority are invalid; the proof of a theory is in its reasoning, not in its sponsorship." -Ludwig von Mises, the Theory of Money and Credit "The increase in the quantity of money does not mean an increase of income for all individuals. On the contrary, those sections of the community that are the last to be reached by the additional quantity of money have their incomes reduced, as a consequence of the decrease in the value of money called forth by the increase Interesting Quotes: "Arguments from authority are invalid; the proof of a theory is in its reasoning, not in its sponsorship." -Ludwig von Mises, the Theory of Money and Credit "The increase in the quantity of money does not mean an increase of income for all individuals. On the contrary, those sections of the community that are the last to be reached by the additional quantity of money have their incomes reduced, as a consequence of the decrease in the value of money called forth by the increase in its quantity." -Ludwig von Mises, the Theory of Money and Credit "There cannot be stable money within an environment dominated by ideologies hostile to the preservation of economic freedom...The ruling parties will certainly not consent to reforms that would deprive them of their most formidable weapon, inflation. Monetary reconstruction presupposes...an unconditional rejection of those allegedly progressive policies...designated by the slogans New Deal and Fair Deal." -Ludwig von Mises, the Theory of Money and Credit

  18. 5 out of 5

    Gary

    Alright this book took me sometime to digest. It wasn't that Mises wasn't clear enough, I just lacked the education to comprehend his theories in total. I would say the Theory of Moeny and Credit is for those who have already grasped the basics of the Austrian school and want to push a little deeper. A great book but know that you are taking on a giant here with giant ideas. Start with Hazlitt in Economics in One Lesson first. Alright this book took me sometime to digest. It wasn't that Mises wasn't clear enough, I just lacked the education to comprehend his theories in total. I would say the Theory of Moeny and Credit is for those who have already grasped the basics of the Austrian school and want to push a little deeper. A great book but know that you are taking on a giant here with giant ideas. Start with Hazlitt in Economics in One Lesson first.

  19. 5 out of 5

    Aaron Crofut

    I've read many books that could be described as dry or dense and they all seem to deal with the field of economics. I didn't find much to really disagree with but I also didn't find a whole lot that really stuck with me, either. I found myself skimming over large sections of review of 19th century economics/economic theory or sections that just repeated what the author had said already or sections that stated the obvious. Not worth the time in my opinion. I've read many books that could be described as dry or dense and they all seem to deal with the field of economics. I didn't find much to really disagree with but I also didn't find a whole lot that really stuck with me, either. I found myself skimming over large sections of review of 19th century economics/economic theory or sections that just repeated what the author had said already or sections that stated the obvious. Not worth the time in my opinion.

  20. 4 out of 5

    Josh Hanson

    Many of Mises' works are clear and highly readable. The Theory of Money and Credit (as one of his earliest works, written in German) was translated in a relatively complicated style, and requires a bit more concentration than his other works. Many of Mises' works are clear and highly readable. The Theory of Money and Credit (as one of his earliest works, written in German) was translated in a relatively complicated style, and requires a bit more concentration than his other works.

  21. 5 out of 5

    Kat M

    This was not as difficult to read as I expected, but it was difficult to truly understand. It's a classic, so I'm glad to have read it. This was not as difficult to read as I expected, but it was difficult to truly understand. It's a classic, so I'm glad to have read it.

  22. 4 out of 5

    Frank Anderson

    great book on theory. heavy though like a text book. fine print too.

  23. 4 out of 5

    Stephen

    Only for those who really have a thirst to understand the subject.

  24. 5 out of 5

    Anthony Francavilla

    Simply amazing. In light of QE3 and reading this book I am now terrified of inflation.

  25. 5 out of 5

    Darrel Pfingston

    written over 100 years ago--still fresh.

  26. 5 out of 5

    Herb Lust

    His description of how money evolved was great. His view on how booms becomes busts is on point.

  27. 4 out of 5

    J.W. Wexford

    Very interesting read, but very, very long winded.

  28. 5 out of 5

    Adedamola

    This book is so nice and it has also be of help...

  29. 4 out of 5

    William Kyle Spratt

    One of the most important books I've ever read. One of the most important books I've ever read.

  30. 4 out of 5

    Darren

    This is a difficult book to read, though if you slog through it, you will learn quite a bit.

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