Mises on Money

In summarizing Mises's theory of money, author Gary North draws heavily on the two major works that dealt with monetary theory and written by Ludwig von Mises himself, The Theory of Money and Credit and Human Action, plus a few minor books. North covers five the definition of money; the optimum quantity of money, and how to achieve it; the myth of neutral money and its corollary, stable prices; fractional reserve banking, and how to inhibit it; and the monetary theory of the business cycle. They are closely interrelated. Mises's system was a system of highly intellectual concepts, from which one could gain great intellectual knowledge.