Published by Liberty Fund for the first time in English, "On the Manipulation of Money and Credit" consists primarily of three pieces on monetary theory written by Ludwig von Mises between 1923 and 1931. As a precursor to Human Action, Mises' magnum opus, this volume includes some of his most important contributions to trade-cycle theory. The first essay, "Stabilization of the Monetary Unit from the Viewpoint of Theory" written in 1923 during a period of German hyperinflation, discusses the consequences of the fluctuating purchasing power of paper money and explores such ideas as the outcome of inflation, that is, the result of the increase in the amount of money, and an emancipation of monetary value from the influence of government. Written in 1928, the second essay, "Monetary Stabilization and Cyclical Policy" critiques schemes for stabilising prices and for "measuring" purchasing power. The third selection is a speech Mises gave in 1931, "The Causes of the Economic Crisis". It explores the nature and role of the market and cyclical changes in business conditions.
Introduction; The Outcome of Inflation; The Emancipation of Monetary Value from the Influence of Government; The Return to Gold; The Money Relation; Comments on the "Balance of Payments" Doctrine; The Inflationist Argument; The New Monetary System; The Ideological Meaning of Reform; The Problem; The Gold Standard; The "Manipulation" of the Gold Standard; "Measuring" Changes in the Purchasing Power of the Monetary Unit; Fishers Stabilization Plan; Goods-induced & Cash-induced Changes in the Purchasing Power of the Monetary Unit; The Goal of Monetary Policy; Stabilization of the Purchasing Power of the Monetary Unit & Elimination of the Trade Cycle; Circulation Credit Theory; The Reappearance of Cycles; The Crisis Policy of the Currency School; Modern Cyclical Policy; Control of the Money Market; Business Forecasting for Cyclical Policy & the Businessman; The Aims & Method of Cyclical Policy; The Nature & Role of the Market; Cyclical Changes in Business Conditions; The Present Crisis; Is There a Way Out?; Index.
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