Ludwig Von Mises's 1912 contribution to the theory of monetary
policy and the current prevailing consensus in modern economic
liberalism, The Theory of Money and Credit, was a milestone
achievement. The author's familiarity with the historical
literature on banking and credit allows him to present a coherent
theoretical structure that links private exchange between
individuals, business and banks to condition the markets affecting
money and credit. Through its wider influence on liberal thinkers
and politicians, the Theory of Money and Credit has become a
classic reference for those seeking to understand the advance of
economic liberalism since the 20th century.
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