The Determination of the Purchasing Power of Money

10/26/2009 Ludwig von Mises

The demand for a medium of exchange is the composite of two partial demands: the intention to use it in consumption and production and the intention to use it as a medium of exchange, writes Ludwig von Mises (1881–1973).

This audio Mises Daily is narrated by Jeff Riggenbach.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

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