The Theory of Money and Credit by Ludwig von Mises

The Theory of Money and Credit by Ludwig von Mises (Author)

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“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

00:00:00 Foreword to the 2009 Edition by Douglas E. French
00:08:07 Foreword by Murray N. Rothbard
00:18:05 Preface to the new edition
00:21:23 Introduction by Professor Lionel Robbins
00:28:23 Preface to English Edition
00:50:59 Preface to Second German Edition
00:58 43 Part One: The Nature of Money
00:58:43 Chapter I The Functions of Money
01:19:04 Chapter II On the Measurement of Value
01:49:59 Chapter III The Various Kinds of Money
02:36:43 Chapter IV Money and the State
03:05:07 Chapter V Money as an Economic Good
03:35:48 Chapter VI The Enemies of Money
03:45:21 Part Two The Value of Money
03:45:21 Chapter I The Concept of the Value of Money
04:11:08 Chapter II The Determinants of the Objective Exchange-Value, or Purchasing Power, of Money
06:54:42 Chapter III The Problem of the Existence of Local Differences in the Objective Exchange-Value of Money
07:17:19 Chapter IV The Exchange-Ratio Between Money of Different Kinds
07:37:27 Chapter V The Problem of Measuring the Objective Exchange-Value of Money and Variations in it
00:00:00 Chapter VI The Social Consequences of Variations in the Objective Exchange-Value of Money
07:56:44 Chapter VII Monetary Policy
09:58:27 Chapter VIII The Monetary Policy of Etatism