The Theory of Money and Credit
The Theory of Money and Credit is a must-read classic that covers the three areas of key interest: the nature of money, the value of money, and money and banking. It explains the purchasing power of money and how it determines economic and monetary policy, often in a way that results in financial meltdowns. Never in modern history has there been a greater need for this book and others like it. All of its ideas and principles are coming true right before our eyes in today's economy and its problems.
Theory of Money and Credit has become a classic reference for those seeking to understand the advance of economic liberalism since the 20th century.
Ludwig von Mises's familiarity with the historical literature on banking and credit allows him to present a coherent theoretical structure which links private exchange between individuals, business and banks to condition the markets affecting money and credit.
Table of Contents
Preface to the New Edition
Introduction: Lionel Robbins
Part 1: The Nature of Money
Chapter I The Functions of Money
Chapter II On the Measurement of Value
Chapter III The Various Kinds of Money
Chapter V Money as an Economic Good
Chapter VI The Enemies of Money
Chapter II The Determinants of the Objective Exchange-Value, or Purchasing Power, of Money
I The Element of Continuity in the Objective Exchange-Value of Money
II Fluctuations in the Objective Exchange-Value of Money evoked by Changes in the Ratio between the Supply of Money and the Demand for it
III A Special Cause of Variations in the Objective Exchange-Value of Money arising from the Peculiarities of Indirect Exchange
IV Excursuses
Chapter III The Problem of the Existence of Local Differences in the Objective Exchange-Value of Money
Chapter IV The Exchange-Ratio Between Money of Different Kinds
Chapter V The Problem of Measuring the Objective Exchange-Value of Money and Variations In It
Chapter VI The Social Consequences of Variations in the Objective Exchange-Value of Money
Chapter VII Monetary Policy
Chapter VII The Monetary Policy of Etatism
Chapter II The Evolution of Fiduciary Media
Chapter IV The Redemption of Fiduciary Media
Chapter VI Problems of Credit Policy
I Prefatory Remark
II Problems of Credit Policy Before the War
III Problems of Credit Policy in the Period Immediately After the War
Part 4 Monetary Reconstruction
Concluding Remarks
Appendix A On the Classification of Monetary Theories
Appendix B Translator's Note on the Translation of Certain Technical Terms