Title page from On the Manipulation of Money and Credit: Three Treatises on Trade-Cycle Theory

On the Manipulation of Money and Credit: Three Treatises on Trade-Cycle Theory

On the Manipulation of Money and Credit includes some of Mises’s most important contributions to monetary and trade-cycle theories. “Stabilization of the Monetary Unit from the Viewpoint of Theory,” discusses the consequences of the fluctuating purchasing power of paper money. “Monetary Stabilization and Cyclical Policy” presents Mises’s business-cycle theory. “The Causes of the Economic Crisis,” explores the nature and role of the market and cyclical changes in business conditions.

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Money & Banking

Monetary policy of the preliberal era was either crude coin debasement, for the benefit of financial administration (only rarely intended as Seisachtheia, i.e., to nullify outstanding debts), or still more crude paper money inflation. However, in addition to, sometimes even instead of, its fiscal…

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