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Publisher's Summary

Mises wrote this book for the ages, and it remains the most spirited, thorough, and scientifically rigorous treatise on money ever to appear. It made his reputation across Europe and established him as the most important economist of his age.

This Mises Institute edition is the first English edition, and it comes complete with an explanatory foreword by Murray Rothbard and a preface by Douglas French.

This classic treatise was the first really great integration of microeconomics and macroeconomics, and it remains the definitive book on the foundations of monetary theory. As Rothbard points out in his introduction to "the best book on money ever written," economists have yet to absorb all its lessons.

Mises shows that money had its origin in the market, and that its value is based on its usefulness as a commodity in exchange. Step by step, Mises presents the case for sound money without inflation and presents the beginnings of a full-scale business-cycle theory. This edition includes Mises' early blueprint, improved later in life, for a return to a fully backed gold standard and competitive banking.

©2009 Ludwig von Mises Institute (P)2017 Luwig von Mises Institute

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Profile Image for Todd Woollen
  • Todd Woollen
  • 20-07-2019

Interesting read

Interesting read as a stand alone and also as a precursor to Human Action, Ludwig von Mises' masterpiece. A useful history of the cyclical mistakes of nations with their monetary policies. I am repeatedly impressed with the wisdom and scholarship of von Mises.

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Profile Image for D. A. Fuzzell
  • D. A. Fuzzell
  • 20-09-2021

Garbage Economic Theory

This book represents a garbage economic theory which is considered so fringe that most economists do not give it the light of day.

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