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Mises’ Monetary Theory by J. G. Hülsmann is a book available to read on EtoBox.

What is Mises’ Monetary Theory about?

Mises developed a new theory of money and banking that he fit into the subjectivist value theory developed by Carl Menger. He also provided numerous suggestions and clarifications to specific theoretical questions. Thus he placed the general theory of subjective value on the foundation of the logic of choice; he developed a subjectivist classification system of money as well as a systematic theory of the causes and effects of monetary prices; he researched the international impact of the changing supply of and demand for money and became a pioneer in international monetary economics; he studied the principles of price formation in unorganized markets; and he criticized mechanistic approaches to the quantity theory of money and to value theory, index number theory, as well as the theories of the Currency School and the Banking School. Last but not the least, he developed a famous crisis theory, arguing that the artificial expansion of the money supply has a tendency to lead to intertemporal imbalances within the production structure. The present chapter builds on and extends the studies of Pallas ( 2004) and Hülsmann (2007, 2012). We will present the historical context of Mises' mon

Author

J. G. Hülsmann

Publisher

Springer Science and Business Media : Springer

Published

2018

Language

EN

ISBN

9783319758176

Subjects

Finance, Business, Economics