The Theory of Money and Credit
|The Theory of Money and Credit|
|Author||Ludwig von Mises|
|Original title||Theorie des Geldes und der Umlaufsmittel|
|Translator||H. E. Batson|
|Series||Bedford series of economic handbooks|
|Published in English||1934|
|Pages||445 pp. illus.|
The Theory of Money and Credit is an economics book written by Ludwig von Mises, originally published in German as Theorie des Geldes und der Umlaufsmittel in 1912. Along with Carl Menger's Principles of Economics, and Eugen von Böhm-Bawerk's Capital and Interest, it is among the foundational works of the Austrian School.
Its first English translation was published in 1934, and Part Four was added by Mises to the English language edition in 1953. In this work, Mises looks at the nature and value of money, and its effect on determining monetary policy. Included is his regression theorem, that tries to explain why money is demanded in its own right, as moneys at first glance do not serve a consumable need. Mises explained that moneys only can come about after there has been a demand for the money commodity in a barter economy.
The German word Umlaufsmittel literally translates as "means of circulation" and was translated into the text of the English version as "fiduciary media".
- 2009: Auburn, Al. Ludwig von Mises Institute. Hardcover
- 1981: Indianapolis,. Ind. Liberty Fund. ISBN 0-913966-70-3. 541 pages. Hardcover. (Softcover ISBN 0-913966-71-1).
- 1978: Irvington-on-Hudson, N.Y.: Foundation for Economic Education.
- 1971: Irvington-on-Hudson, N.Y.: Foundation for Economic Education.
- 1953: New Haven, Conn.: Yale University Press.
- 1934: London: Jonathan Cape Ltd. First translation (by Harold E. Batson) into English from the original German.
- 1924: 2nd edition in German.
- 1912: Vienna: Theorie des Geldes und der Umlaufsmittel.
- The Theory of Money and Credit, 1953 edition:
- The Theory of Money and Credit, 1981 edition:
- Foreword to the 1981 Edition by Murray Rothbard
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