The Theory of Money and Credit

The Theory of Money and Credit

"The Theory of Money and Credit" is an economics book written by Ludwig von Mises, originally published in German as "Theorie des Geldes und der Umlaufsmittel" in 1912. Along with Carl Menger's "Principles of Economics", and Eugen von Böhm-Bawerk's "Capital and Interest", this work was a major contribution to economic theory.

Its first English translation was published in 1934, and Part Four was added by Mises to the English language edition in 1953. In this work, Mises looks at the nature and value of money, and its effect on determining monetary policy. Included is his "regression theorem", that tries to explain why money is demanded in its own right, as moneys at first glance do not serve a consumable need. Mises explained that moneys only can come about after there was a demand for the money commodity in a barter economy.

The German word "Umlaufsmittel" literally translates as "means of circulation" and was translated into the text of the English version as "fiduciary media". However, the publisher thought the unusual terminology would irritate readers and substituted "money and credit" in the title, thereby losing the specific distinction Mises had made in selecting his original term. [Julsmann, Jorg Guido, 2007. "Mises: The Last Knight of Liberalism". p. 217, note 7. ]

Contents

* Prefaces
** Foreword, by Murray N. Rothbard (1981) [http://www.lewrockwell.com/rothbard/rothbard128.html Full text]
** Preface to the [1952] Edition
** Introduction, by Lionel Robbins (1934)
** Preface to the English Edition (1934)
** Preface to the Second German Edition (1924)
* 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 Ratio Between Money of Different Kinds
**11. The Problem of Measuring the Objective Exchange Value of Money and Variations in It
**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
* Appendix B: Translator's Note on the Translation of Certain Technical Terms

Publication history

* 1981: Indianapolis,. Ind. Liberty Classics. ISBN 0-913966-70-3. 541 pages. Hardcover. (Softcover ISBN 0-913966-71-1).
* 1978: Irvington-on-Hudson, N.Y.: Foundation for Economic Education.
* 1971: Irvington-on-Hudson, N.Y.: Foundation for Economic Education.
* 1953: New Haven, Conn.: Yale University Press.
* 1934: London: Jonathan Cape Ltd. First translation (by Harold E. Batson) into English from the original German.
* 1924: 2nd edition in German.
* 1912: Vienna: "Theorie des Geldes und der Umlaufsmittel". ( [http://links.jstor.org/sici?sici=0013-0133%28191409%2924%3A95%3C417%3ATDGUDU%3E2.0.CO%3B2-D&size=LARGE&origin=JSTOR-enlargePage 1914 review] by J.M. Keynes]

ee also

* Austrian school

External links

* "The Theory of Money and Credit", 1953 edition, [http://www.mises.org/books/Theory_Money_Credit/Contents.aspx Full text in HTML format] ( [http://www.mises.org/books/tmc.pdf also in PDF format] ).
* "The Theory of Money and Credit", 1981 edition, [http://www.econlib.org/library/mises/msTContents.html Full text in HTML format]
* [http://www.lewrockwell.com/rothbard/rothbard128.html Foreword to the 1981 Edition] by Murray Rothbard.

References


Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Quantity theory of money — In economics, the quantity theory of money is a theory emphasizing the positive relationship of overall prices or the nominal value of expenditures to the quantity of money. Origins and development of the quantity theory The quantity theory… …   Wikipedia

  • Credit money — is any claim against a physical or legal person that can be used for the purchase of goods and services.[1] Examples of credit money include personal IOUs, and in general any financial instrument or bank money market account certificate, which is …   Wikipedia

  • Money — For other uses, see Money (disambiguation). Coins and banknotes – the two most common physical forms of money …   Wikipedia

  • The Economics and Ethics of Private Property — The Economics and Ethics of Private Property: Studies in Political Economy and Philosophy by Hans Hermann Hoppe was first published in 1993 followed by a second edition in 2006. Brief summary From the back cover of the second edition:The topics… …   Wikipedia

  • Austrian Business Cycle Theory — The Austrian business cycle theory is the Austrian School s explanation of the phenomenon of business cycles (or credit cycles ). Austrian economists assert that inherently damaging and ineffective central bank policies are the predominant cause… …   Wikipedia

  • money — moneyless, adj. /mun ee/, n., pl. moneys, monies, adj. n. 1. any circulating medium of exchange, including coins, paper money, and demand deposits. 2. See paper money. 3. gold, silver, or other metal in pieces of convenient form stamped by public …   Universalium

  • Social and psychological value of money — Money as we know it today is a symbol of value created by the human imagination with no intrinsic value of its own. A coin or paper currency note has value because people accept it as a symbolic medium of exchange. The economic value of money as… …   Wikipedia

  • The Natural Economic Order — is the most famous book of Silvio Gesell. PUBLISHED REFERENCES TO GESELL S THEORY John Maynard Keynes: General Theory of Employment, Interest and Money (1936): Gesell s main book is written in cool, scientific language; though it is suffused… …   Wikipedia

  • Man, Economy, and State — Man, Economy, and State: A Treatise on Economic Principles   Cover of the Mises Institute s 2004 editio …   Wikipedia

  • Effet multiplicateur du crédit — Dans le contexte du système dit de Réserves Fractionnaires, l’expansion monétaire est en partie la conséquence de l’effet multiplicateur du crédit. Ce terme désigne le rapport existant entre l’augmentation de monnaie centrale (voir base… …   Wikipédia en Français

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”