This 1912 book is Mises’ first great theory. Mises agreed with Menger about the spontaneous emergence of money. No government is needed. Mises used a logical proof called the regression theory. It explained why money is demanded in its own right.
When we discovered a solid stash of this book, the excitement in our offices was palpable.
Few words get the good PR that democracy does. Americans are told we must fight for democracy around the world.
This is what makes The Lord of the Rings a much better means for conceptualizing the ideas of freedom than Atlas Shrugged.
