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The Theory of Money and Credit
Ludwig von Mises was the leading exponent of the Austrian School of economics throughout most of the twentieth century. He has long been regarded as a most knowledgeable and respected economist, even though his teachings were generally outside the mainstream. He wrote twenty-five books and hundreds of articles on human action, free markets, and political economy. When Lu...more
Hardcover, 544 pages
Published
July 1st 1981
by Liberty Fund Inc.
(first published 1912)
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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 governmen...more
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.
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 !
Peter Namtvedt
rated it
Recommends it for:
those truly interested in a deep understanding of economics
Recommended to Peter by:
Dan Allosso
This is the primary book that presents the distinctive Austrian theory of the trade cycle. For that alone, it deserves to be read by anyone who is interested in economics. Note, this is a very technical book, and not an easy read.
This volume gives you a complete and groundbreaking theory of money itself: what it is, where it comes from, what its "value" is, and the differences between commodity money and fiat money, the demand for money and what it has to do with banking, ...more
This volume gives you a complete and groundbreaking theory of money itself: what it is, where it comes from, what its "value" is, and the differences between commodity money and fiat money, the demand for money and what it has to do with banking, ...more
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.
Craig J.
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"THEORY OF MONEY AND CREDIT, THE (Lib Works Ludwig Von Mises CL) by LUDWIG VON MISES (1981)"
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.
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.
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Ludwig Heinrich Edler von Mises (German pronunciation: [ˈluːtvɪç fɔn ˈmiːzəs]; September 29, 1881 – October 10, 1973) was an Austrian economist, historian, philosopher, author, and classical liberal who had a significant influence on the modern free-market libertarian movement and the Austrian School.
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