An Analysis of Ludwig von Mises's The Theory of Money and Credit

Ludwig Von Misess 1912 contribution to the theory of monetary policy and the current prevailing consensus in modern economic liberalism, The Theory of Money and Credit, was a milestone achievement. The authors familiarity with the historical literature on banking and credit allows him to present a coherent theoretical structure that links private exchange between individuals, business and banks to condition the markets affecting money and credit. Through its wider influence on liberal thinkers and politicians, the Theory of Money and Credit has become a classic reference for those seeking to understand the advance of economic liberalism since the 20th century.