Theory of Money and Credit

Rating:
Summary: YOU DON'T WANT TO SPEED READ THIS ONE
Review: I am a BIG fan of Ludwig von Mises. I am aware of what his great contributions are to the science of Economics. All free-market believers are indebted to him for his work. That is precisely why I bought a copy of his Theory of Money and Credit.

I found it VERY DIFFICULT to read, even with a dictionary in hand. So much so that I never finished it. And this even though I have read Rothbard's classic "America's Great Depression" twice.

Admittedly, von Mises wrote the original in German (I think), and translating technical material from another language may be quite difficult.

I give von Mises 5 stars for his Theory, (which really isn't a theory, but FACT). But I must subtract one star for it's lack of readability.

--George Stancliffe

Rating:
Summary: YOU DON'T WANT TO SPEED READ THIS ONE
Review: I am a BIG fan of Ludwig von Mises. I am aware of what his great contributions are to the science of Economics. All free-market believers are indebted to him for his work. That is precisely why I bought a copy of his Theory of Money and Credit.

I found it VERY DIFFICULT to read, even with a dictionary in hand. So much so that I never finished it. And this even though I have read Rothbard's classic "America's Great Depression" twice.

Admittedly, von Mises wrote the original in German (I think), and translating technical material from another language may be quite difficult.

I give von Mises 5 stars for his Theory, (which really isn't a theory, but FACT). But I must subtract one star for it's lack of readability.

--George Stancliffe

Rating:
Summary: Fascinating and groundbreaking.
Review: The late great Murray Rothbard described Ludwig von Mises's _The Theory of Money and Credit_ as the best book on money ever written. And so it is.

It is probably best known as the volume which first set out the distinctive Austrian theory of the trade cycle. For that alone, it deserves a place on the bookshelf of everyone who cares about such things (and more people should).

But there's much more to it than that. This volume sets out a complete and groundbreaking theory of money itself: what it is, where it comes from, what it means to speak of its "value," the differences between commodity money and fiat money, the demand for money and what it has to do with banking, and -- crucially -- the jiggery-pokery that becomes possible when the State starts messing around with unsound monetary policy.

This edition also includes a section on "Monetary Reconstruction" written in 1952 (and first included in the 1953 Yale University Press edition).

Plus there's a foreword by Murray Rothbard. And, finally, it's another beautifully crafted volume from the Liberty Fund, practically a steal at the price posted above. You'd have a hard time buying most such books _used_ at this price.

So what are you waiting for? Throw your Samuelson and Keynes in the trash and pick up a book of _real_ economics.

Rating:
Summary: Brilliant and Persuasive
Review: This is the first of the modern works to identify the cause of the business cycle: artificial credit expansion sending miscues to capital goods industries. Though written in 1912, it retains its persuasive power, especially in light of the current financial meltdown. Mises also covers the origin and nature of money and banking. As always LibertyFund puts out a beautiful book.