Theory of Money and Fiduciary Media

14 chapters.

1. Essays in celebration of the centennial

1. Introduction, by Jorg Guido Hulsmann

   Frames the whole volume: Mises finished revising Theorie des Geldes und der Umlaufsmittel in December 1911 at age thirty, and the essays that follow reassess a hundred years of the theory it launched.

2. 1. The Early Evolution of Mises's Monetary Theory, by Jorg Guido Hulsmann

   Traces how Mises folded Menger's subjective-value theory into money itself, then reconstructs what changed between the treatise's first and second editions.

3. 2. Why Was the Reception of the First Edition So Lukewarm?, by Amadeus Gabriel

   Argues Mises's German predecessors in monetary theory are largely forgotten in English-language scholarship, and asks how much of the book's cool early reception traces to that blind spot.

4. 3. Boehm-Bawerk's Influence on Mises's Typology of Money, by Malavika Nair

   Reconstructs where Mises's classification of the different kinds of money came from in his teacher Boehm-Bawerk's own work.

5. 4. Mises and Value Theory, by Mateusz Machaj

   Separates the two things economists mean by "value" and shows which one Mises actually built his monetary theory on.

6. 5. Ludwig von Mises as Currency School Free Banker, by Joseph T. Salerno

   Takes on a long-running dispute among Austrians over whether Mises wanted gold reserves held at 100 percent or favored free banking, and argues the text supports free banking.

7. 6. The Influence of the Currency-Banking Dispute on Early Viennese Monetary Theory, by Matthew McCaffrey

   Places Mises alongside Hilferding and Schumpeter, three young Viennese economists who each published a major monetary or capital treatise within two years of one another.

8. 7. The Regression Theory as Conjectural History, by Gary North

   Starts from Menger's 1892 essay on the origin of money and examines what kind of historical claim Mises's regression theorem actually is.

9. 8. Expansionist Monetary Policies and the Trade Balance, by David Howden

   Tests the textbook claim that currency depreciation improves a trade balance against the older mercantilist version of the same argument.

10. 9. The Subsistence Fund in Mises's Explanation of the Business Cycle, by Eduard Braun

    Revisits a concept largely dropped from later Austrian business-cycle writing: the fund that finances the wage bill during a credit-driven investment boom.

11. 10. The Inter-Bank Market in the Perspective of Fractional Reserve Banking, by Nikolay Gertchev

    Extends Mises's monetary doctrine, as later clarified in Human Action, to how banks lend to and borrow from one another.

12. 11. Modern Business Cycle Theories in Light of the ABCT, by Philipp Bagus

    Compares Mises's hundred-year-old business cycle theory to the newer explanations for the crisis that revived interest in it.

13. 12. The Monetary Theory of Current Textbooks in Light of The Theory of Money and Credit, by Renaud Fillieule

    Checks four basic questions, what money is, what it does, its types and its value, against how today's economics textbooks answer them.

14. 13. Mises's Theory of Money and Credit: Arguments Against Central Banking, by Thorsten Polleit

    Draws out the book's case against central banking directly, a case its first English-language reviewers largely passed over.