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Money, Bank Credit, and Economic Cycles

4.32  ·  Rating Details ·  136 Ratings  ·  17 Reviews
Can the market fully manage the money and banking sector? Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise that it has and can again, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.

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Hardcover, 875 pages
Published March 16th 2006 by Ludwig von Mises Institute (first published 1998)
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Mark Sawkar
Jan 02, 2008 Mark Sawkar rated it it was amazing
Shelves: economics
This book is the best exposition of Austrian macro-economic theory, particularly: Austrian Business Cycle Theory, Theory of Capital and Monetary Theory. The book first details the differing legal and economic nature of demand deposits and time deposits. Then it covers historical violations of the legal principles governing demand deposits, attempts to legally justify fractional-reserve banking, the credit expansion process and its effects on the economic system. In the process is detailed the wo ...more
Mar 06, 2014 Martin rated it it was amazing
This book is a must read for anyone interested on the austrian school's take on money, banking and economic cycles (the three topics listed on the title). I first intended to read the original spanish version but for some reason the english edition was 20 dollars cheaper on every retail store. To my surprise the translator (Melinda A. Stroup) did a great job in making the book's narrative very natural, even to the point where one couldn't tell the book was actually a translation. An achievement ...more
Hendrik Vermuyten
Dec 26, 2014 Hendrik Vermuyten rated it it was amazing
De Nederlandstalige versie "Geld, krediet en crisis" is zeer vlot geschreven. De auteur geeft een uitdagende alternatieve visie op de banksector. Het boek combineert juridische en economische theorie met historische voorbeelden die de theorie illustreren. Zeer sterke argumentatie.
Fabricio Terán
May 01, 2014 Fabricio Terán rated it really liked it
Exposición histórica, económica y jurídica de la teoría macroeconómica del dinero y la banca desde el punto de vista de la versión "Currency School" de la escuela austriaca. Importante para conocer las diferencias entre la macroeconomía monetaria neoclásica, keynesiana, y la versión "Banking School" de la escuela austriaca (entre las principales expuestas). Se coincida o no con los análisis y propuestas, el tratado pone de manifiesto la importancia del dinero y el crédito 'saludables' para la es ...more
Josema España
Jan 23, 2013 Josema España rated it it was amazing
A trully masterpiece.
Apr 02, 2013 Paul rated it it was amazing  ·  review of another edition
Strap yourself in and make a pot of coffee. You're going to be here for a while, but it's worth it.

This is, quite simply, the most comprehensive treatise on its titular subject matter I've read. From the ancient Romans and their banking/contract law to the School of Salamanca to the Bank of Amsterdam to the Bank of England to the Fed, you'll come to learn how banks work, what money is, and why fractional reserve banking is immoral and should be illegal—and often has been, as multiple economies a
Aug 26, 2015 Chwilowo rated it it was amazing  ·  review of another edition
Autor dobitnie pokazuje jakie cykle zachodzą w całej gospodarce. Kredyty i banki to przerośnięta forma, która wcześniej czy później i tak upadnie. Powinien też poruszyć temat chwilówek i pożyczek pozabankowych, które obecnie są popularne, a zapoczątkował je kryzys w 2008 roku. Pełno jest ofert chwilówek w Polsce i jak popatrzeć na nie dokładniej to lichwa niesamowita.
May 06, 2011 Sara rated it it was amazing  ·  review of another edition
I'm only 9% through this book (per my Kindle), but my understanding of banking has increased dramatically. Huerta de Soto explains the legal and economic principles behind regular deposits, irregular deposits, and loan contracts or mutuums as they were defined by ancient Roman law. The importance of these definitions to establishing a sound system of money and banking cannot be denied. The author also provides insight as to why these Roman laws should even be followed, offering the explanation t ...more
Aug 19, 2010 Eddie rated it really liked it  ·  review of another edition
This book had an intriguing premise, that fractional-reserve banking causes the business cycle and that we should return to a 100% gold-backed reserve requirement for bank deposits. If we do that, our economy should experience a slow gradual growth and our money will slowly become more valuable. This was a well-thought out book that made me think more about our economy. I now don't believe that GNP is a good measure of our economy. The book did seem lack empirical evidence to back up its premise ...more
Rafa Sánchez
Apr 28, 2014 Rafa Sánchez rated it it was amazing
This may be one of the most important books in current Political Economics, the bare science of economics. If you need a treaty from the natural basics of human action to the highest level of economics complexity this is your book.
Jun 16, 2013 Stephen rated it it was amazing
This is one of the best books on any subject I've ever read. No joke. Completely lays out and modernizes the Austro-libertarian perspective on the legal foundations (or lack thereof) of fractional reserve banking, as well as the micro and macroeconomic implications of its implementation. This leads the reader into the clearest and most comprehensive exposition of the Austrian Business Cycle Theory availaible. Next, the author gives insightful critiques of the major contradicting schools of econo ...more
John Manfreda
Mar 16, 2014 John Manfreda rated it it was amazing
Long Read, but worth it
John Boettcher
Jul 27, 2013 John Boettcher rated it it was amazing
You are going to learn alot reading this book! It may educate you more in one sitting about fundamentals of economics, banking, and economic theory than you have ever had before. The book is long, and must be to go through the fallacies of the two main competing schools of economic thought, the Classical/Chicago school and the Keynesian school. I cannot recommend this book highly enough. This is one of the best books the Austrian School of Economics has to offer.
Carlos Valderrama montes
Nov 27, 2013 Carlos Valderrama montes rated it really liked it
Detallado análisis sobre el ciclo económico desde la perspectiva de la escuela austríaca. Quizás se hace demasiado énfasis en el análisis del depósito irregular de dinero y en la condena del sistema bancario con reserva fraccionaria.
Feb 26, 2013 Andrew rated it it was amazing
Shelves: economics
An amazing in-depth study of the Austrian theory of the business cycle. I've made it through about the first 25% or so -- better review to follow eventually!
May 02, 2010 Jason rated it it was amazing  ·  review of another edition
By far one of the best economics books I have ever read.
Mar 09, 2009 Mark rated it really liked it
In depth defense of the Austrian economics theory of banking and the business cycle focusing on the problems caused by artificial credit expansion, fiat currency, and fractional reserve banking.
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Jesús Huerta de Soto Ballester (Madrid, 1956) is a Spanish economist of the Austrian School. He is a professor in the Department of Applied Economics at King Juan Carlos University of Madrid, Spain and a Senior Fellow at the Ludwig von Mises Institute.

Huerta de Soto received a bachelor's degree in economics in 1978 and a PhD in economics in 1992, from Complutense University. His MBA in actuarial s
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“Natomiast sfera pieniądza, kredytu bankowego i rynków finansowych pozostaje bardzo trudnym wyzwaniem dla teoretyków i czymś tajemniczym dla większości obywateli. Relacje społeczne bezpośrednio lub pośrednio związane z pieniądzem są zdecydowanie najbardziej abstrakcyjne i najmniej zrozumiałe, toteż odnośna wiedza jest niezwykle obszerna, złożona i trudno uchwytna. Z tego też powodu systematyczny przymus stosowany w tej dziedzinie przez rządy i banki centralne jest ogromnie szkodliwy i zgubny.” 0 likes
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