HomeGroupsTalkMoreZeitgeist
This site uses cookies to deliver our services, improve performance, for analytics, and (if not signed in) for advertising. By using LibraryThing you acknowledge that you have read and understand our Terms of Service and Privacy Policy. Your use of the site and services is subject to these policies and terms.
Hide this

Results from Google Books

Click on a thumbnail to go to Google Books.

Loading...

The Theory of Money and Credit (1912)

by Ludwig Von Mises

MembersReviewsPopularityAverage ratingMentions
275469,763 (4.13)1
"It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments." - from The Theory of Money and Credit Originally published in 1912, Ludwig von Mises's The Theory of Money and Credit remains today one of economic theory's most influential and controversial treatises. Von Mises's examination into monetary theory changed forever the world of economic thought when he successfully integrated "macroeconomics" into "microeconomics" --previously deemed an impossible task --as well as offering explanations into the origin, value and future of money. One hundred years later, von Mises and the Austrian school of economic theory are still fiercely debated by world economists in their search for the solution to America's current financial crisis. His theorems continue to inspire politicians and market experts who aim to raise up the common man and reduce the financial power of governments. In a preface added in 1952, von Mises urges the people of the world to see economic truth: "The great inflations of our age are not acts of God. They are man-made or, to say it bluntly, government-made. They are the off-shoots of doctrines that ascribe to governments the magic power of creating wealth out of nothing and of making people happy by raising the 'national income.'" "The best book on money ever written." --Murray Rothbard, economist and historian "The greatest economist of the twentieth century." --Sandeep Jaitly, economist… (more)

None.

Loading...

Sign up for LibraryThing to find out whether you'll like this book.

No current Talk conversations about this book.

» See also 1 mention

Showing 4 of 4
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 ( )
  GirlMeetsTractor | Mar 22, 2020 |
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. ( )
  Kenoubi | Sep 6, 2014 |
Most books in economics don't retain their importance for very long, but this one is still well worth reading a hundred years after it was first published. That's because the author writes from a broad perspective about theoretical and philosophical questions which are current in any age. I especially liked the author's theory of economic value which seems to be more sensible than much of what I've read in modern textbooks. The level of difficulty rises toward the end when the focus turns toward credit and banking, so I found myself in over my head there. In these latter sections the discussion is to some extent tied to specific examples of credit instruments from the early 20th century, so a detailed knowledge of the history of banking might be necessary for understanding it fully.
1 vote thcson | Feb 12, 2012 |
This is one of the greatest books ever written on the subject of money, the first to apply marginal utility theory to money, and an important, early (indeed, one of the first) post-cardinalist revisions of marginal utility along ordinalist lines. The book is the author's first great work, a masterpiece, and the first classic of the third generation of the Austrian School. In it, Mises pushes beyond the work of Eugen von Boehm-Bawerk and Friedrich Freiherr von Wieser (his immediate precursors) while at the same time restoring the broad insights of the school's founder, Carl Menger.

This is not Mises's easiest book. But it is worth reading nevertheless. It contains an expansion of Menger's theory of the origin of money. It contains an important critique of the common misuse of index numbers, and, in general, attacks the ever-popular scientism that so many economists bring to the discipline.

The book also contains many interesting thoughts on the gold standard and what Mises calls "monetary reconstruction." Really, this is a must-read for anyone concerned about economic policy, as well as those, like me, who are mainly concerned with the core ideas of economics.

I do not pretend to agree with all of Mises's points. Indeed, I'm something of a skeptic about some of his conclusions, to say the least. But I know a classic when I read one. And I know that this is the kind of classic that is still worth reading.

Economics has not yet moved beyond Mises in a reliable way. We are still, to some extent, enmired in the twin catastrophes of Keynesianism and the Walrasian revival. ( )
  wirkman | Feb 21, 2007 |
Showing 4 of 4
no reviews | add a review
You must log in to edit Common Knowledge data.
For more help see the Common Knowledge help page.
Canonical title
Original title
Alternative titles
Original publication date
People/Characters
Important places
Important events
Related movies
Awards and honors
Epigraph
Dedication
First words
Quotations
Last words
Disambiguation notice
Publisher's editors
Blurbers
Original language
Canonical DDC/MDS

References to this work on external resources.

Wikipedia in English (2)

"It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments." - from The Theory of Money and Credit Originally published in 1912, Ludwig von Mises's The Theory of Money and Credit remains today one of economic theory's most influential and controversial treatises. Von Mises's examination into monetary theory changed forever the world of economic thought when he successfully integrated "macroeconomics" into "microeconomics" --previously deemed an impossible task --as well as offering explanations into the origin, value and future of money. One hundred years later, von Mises and the Austrian school of economic theory are still fiercely debated by world economists in their search for the solution to America's current financial crisis. His theorems continue to inspire politicians and market experts who aim to raise up the common man and reduce the financial power of governments. In a preface added in 1952, von Mises urges the people of the world to see economic truth: "The great inflations of our age are not acts of God. They are man-made or, to say it bluntly, government-made. They are the off-shoots of doctrines that ascribe to governments the magic power of creating wealth out of nothing and of making people happy by raising the 'national income.'" "The best book on money ever written." --Murray Rothbard, economist and historian "The greatest economist of the twentieth century." --Sandeep Jaitly, economist

No library descriptions found.

Book description
Haiku summary

Quick Links

Popular covers

Rating

Average: (4.13)
0.5
1
1.5
2 1
2.5
3 3
3.5
4 11
4.5 2
5 7

Liberty Fund, Inc

2 editions of this book were published by Liberty Fund, Inc.

Editions: 0913966703, 0913966711

Skyhorse Publishing

An edition of this book was published by Skyhorse Publishing.

» Publisher information page

Signalman Publishing

An edition of this book was published by Signalman Publishing.

» Publisher information page

Is this you?

Become a LibraryThing Author.

 

About | Contact | Privacy/Terms | Help/FAQs | Blog | Store | APIs | TinyCat | Legacy Libraries | Early Reviewers | Common Knowledge | 150,679,932 books! | Top bar: Always visible