Credit And The Two Sources From Which It Springs

Money and Credit - Volume I Austrian economist Prof. Antal Fekete has published his Opus Magnum in 4 volumes or about 900 pages. This first volume in full colour printing, reads the easiest ( about the level of Bachelor) but the contents contain the foundations for the three other volumes. His out-of-print earlier works such as the prize-winning essay Whither Gold? has been added as well as the Pillars of Sound Money and Credit told in the form of a tale. His style is erudite - yet clear and concise. The mainstream economics student and other readers may expect a mathematical exposition. But Fekete, being a math professor, denies economics is a field of purely mathematical science. He maintains it always has been and will be a human science. At the end of this volume has been added a small section on 'fractional banking'. Here you encounter some light mathematics and it will not burden the non-mathematicians. On the occasion of this reprint, many endnotes have been added, as well as a bibliography and index. You also may enjoy the tongue-in-cheek glossary.

This is Volume I of a never published Treatise on Gold, Interest and Discount and the hitherto undiscovered links between them, necessary for the distributed decision making on interest rates or discount rates. A penetrating study of the inner working of the gold standard. Additionally, social cooperation in a free market makes for distributed economic wisdom.

Academic work with bibliography, notes and illustrations in 4 colour print volumes, based on the seminal work of the founder of the Austrian School of Economics Prof. Carl Menger and his important later disciples like Ludwig von Mises and F. Hayek yet without phenomenology or dogmatic liberalism ideology.