Theory of Money and Credit - Ludwig von Mises - Bauman Rare Books

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Theory of Money and Credit

Ludwig von MISES

Item#: 111012 We're sorry, this item has been sold

Theory of Money and Credit

"MISES SHOWS HERE HOW MISTAKEN MONETARY POLICIES LEAD TO THE DESTRUCTION OF LIBERTY": FIRST REVISED AND EXPANDED EDITION OF MISES' GREATEST ECONOMIC TREATISE, THEORY OF MONEY AND CREDIT, 1953, WITH THE FIRST PUBLICATION OF HIS ESSAY ON MONETARY RECONSTRUCTION

MISES, Ludwig von. The Theory of Money and Credit. New Edition, Enlarged with an Essay on Monetary Reconstruction. New Haven: Yale University Press, 1953. Octavo, original green cloth, original dust jacket.

First revised and expanded edition of Mises' landmark in free market economic theory, the first to include his important essay on Monetary Reconstruction, in original dust jacket.

Considered Mises' greatest economic treatise, this work's emphasis on the origin of money and credit in the marketplace, the logic of rational individual action, and the value of maintaining a gold standard free from government manipulation was an important alternative to the dominant trends in economic thought. It was first issued in English in 1934 a time when many Western nations, led by the U.S., were going off the gold standard to facilitate the creation of state-controlled investment capital to finance planned economic development. "Professor Mises shows here how mistaken monetary policies lead to the destruction of liberty" (Hazlitt, 119-20). This expanded edition contains the first appearance in print of "Monetary Reconstruction," his new essay on the gold standard that adds "two crucial insights" to the work. The first insight emphatically argues there is "not even an 'emergency case' for inflation." To Mises, inflation arises from minority antidemocratic rule that endangers majority rule democracy. The second insight "also represented a departure from his thinking in 1934… [and] concerned the necessity of an actual circulation of gold coins… The point was that only a commodity currency made the citizens sovereign in monetary matters" (Hulsmann, Mises, 920-22). Originally published as Theories des Geldes und der Umlaufsmittel in Munich in 1912; first edition in English published in 1934.

Book fine; small chip to spine head of near-fine dust jacket.

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