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Treatise on Money (Paperback)
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Treatise on Money (Paperback)
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Together with John Maynard Keynes and Milton Friedman, Joseph
Schumpeter is regarded as one of the three greatest economists of
the 20th century. And yet, his actual economic writing has remained
something of an enigma. Capitalism, Socialism, and Democracy, his
best-known work, was also an unscientific throw-off in his view.
His major economic works - The Theory of Economic Development and
Business Cycles - have been misunderstood and underappreciated.
What has not been realized is that key elements of the
Schumpeterian system have hitherto gone missing. Clues to that
system were contained in his magisterial History of Economic
Analysis, but the full-orbed outworking was contained in his
unpublished German manuscript on money and banking. Now published
in English translation, the Treatise on Money provides the key to
understanding Schumpeter's system. It shows that Schumpeter's
famous emphasis on 'creative destruction' is a more complex
phenomenon than is popularly understood. In particular, it provides
an understanding of the workings of money, banking, and the money
and capital markets, that are supremely relevant in the light of
current monetary and fiscal policy crises. This present volume is
therefore an indispensable contribution to revealing the true
Schumpeter to the English-speaking world.
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