Mises on Money

Antony — January 20, 2012

Interested in money? Want to understand what determines its value, and how money affects the economy? Ludwig von Mises’ book The Theory of Money and Credit was a groundbreaking book in Austrian Economics, and is the definitive treatise on Austrian monetary theory. In this book, Mises develops a fully articulated theory of money that explains the connection between the Austrian concept of subjective value, and how this determines money’s objective exchange value. This book also includes the first development of the Austrian Business Cycle Theory, which is vital in understanding the boom-bust cycles we see ravaging economies around the world.

I will be taking the Mises Academy course Mises on Money and Banking, which covers this book, starting on February 1st. It will be taught by Robert Murphy, who wrote the study guide to the book, so he should be very knowledgeable on the subject matter. Last year, I took three courses with the same professor covering Man, Economy and State. I learned a lot, and was happy with the quality of the those courses, so I feel comfortable recommending this course also.

So if you want to beef up your intellectual firepower on Austrian monetary theory, I’d encourage you to sign up for this course. Especially if you are in the Book Club, then we can discuss it at our meetings!

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