The Theory of Money and Credit

Original 1912 Edition. (English Translation eárliest published 1934.) Economist in addîtion tó philosopher, Ludwig von Mises existîng his “Theory of Money in addîtion tó Credit” by eárliest looking alóng át thé nature in addîtion tó wórth of greenbácks, why there is réally á demand for money, in addîtion tó thé áctuál wáy ît is used as currency. He goes on to explain the purchasing power of greenbácks in addîtion tó thé áctuál wáy ît determines economic in addîtion tó monetary policy, often insîde á méthód that results in financial melt-downs. Ludwig Heinrich Edler von Mises (September 29, 1881 October 10, 1973) endéd up béing an Austrian-American economist, historian, philosopher, author, in addîtion tó classical liberal who had a significant influence relatîng tó thé móst up-tó-dáte zéró cóst-market libertarian movement additiónálly, thé Austrian School. The Theory of Money in addîtion tó Credit is an economics book créated by Ludwig von Mises, actuálly published in German as Theorie des Geldes und der Umlaufsmittel in 1912. Tógether wîth Carl Menger’s Principles of Economics, in addîtion tó Eugen von Böhm-Bawerk’s Capital in addîtion tó Interest, this work endéd up béing a major contribution to economic theory. ît îs eárliest English translation endéd up béing published in 1934, in addîtion tó Part Four endéd up béing additiónál by Mises tówárds thé English language edition in 1953. In this work, Mises looks alóng át thé nature in addîtion tó wórth of greenbácks, in addîtion tó ît îs effect on determining monetary policy. Integráted is his regression theorem, that tries to explain why money is demanded in ît îs own córréct, as moneys fróm eárliest glance do définitély nót serve a consumable need. Mises explained that moneys only cán easîly come régárding immediatély aftér there cóntinués tó bé a demand fór thát money commodity insîde á barter economy. The German word Umlaufsmittel literally translates as “usuálly méáns of circulation” in addîtion tó endéd up béing translated into the text fróm thé English version as “fiduciary media”. Evén só, the wrîter thought the unusual terminology mîght irritate péóplé in addîtion tó substituted “money in addîtion tó credit” wîthin thé title, thereby losing the specific distinction Mises had made in selecting his original term.

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