Here is the first edition, 1912, of Mises’s great book translated as The Theory of Money and Credit. This book changed monetary economics forever.
![Theoriedes Geldes und der Umlaufsmittel by Mises](https://cdn.mises.org/styles/responsive_6_9_650w/s3/static-page/img/Theoriedes%20Geldes%20und%20der%20Umlaufsmittel_Mises.jpg.webp?itok=RANuArOi 650w,https://cdn.mises.org/styles/responsive_6_9_870w/s3/static-page/img/Theoriedes%20Geldes%20und%20der%20Umlaufsmittel_Mises.jpg.webp?itok=1y1PlqDf 870w,https://cdn.mises.org/styles/responsive_6_9_1090w/s3/static-page/img/Theoriedes%20Geldes%20und%20der%20Umlaufsmittel_Mises.jpg.webp?itok=ey2-ZM7M 1090w,https://cdn.mises.org/styles/responsive_6_9_1310w/s3/static-page/img/Theoriedes%20Geldes%20und%20der%20Umlaufsmittel_Mises.jpg.webp?itok=dWsdoDFR 1310w,https://cdn.mises.org/styles/responsive_6_9_1530w/s3/static-page/img/Theoriedes%20Geldes%20und%20der%20Umlaufsmittel_Mises.jpg.webp?itok=rHa_7a56 1530w)
![Ludwig von Mises](https://cdn.mises.org/styles/responsive_6_9_650w/s3/static-page/img/Ludwig%20von%20Mises%20576x720.jpg.webp?itok=_UflIB7_ 650w,https://cdn.mises.org/styles/responsive_6_9_870w/s3/static-page/img/Ludwig%20von%20Mises%20576x720.jpg.webp?itok=wBSQiZyH 870w,https://cdn.mises.org/styles/responsive_6_9_1090w/s3/static-page/img/Ludwig%20von%20Mises%20576x720.jpg.webp?itok=8QkAnVzG 1090w,https://cdn.mises.org/styles/responsive_6_9_1310w/s3/static-page/img/Ludwig%20von%20Mises%20576x720.jpg.webp?itok=SV5lewQF 1310w,https://cdn.mises.org/styles/responsive_6_9_1530w/s3/static-page/img/Ludwig%20von%20Mises%20576x720.jpg.webp?itok=bInofJu9 1530w)
Ludwig von Mises was the acknowledged leader of the Austrian school of economic thought, a prodigious originator in economic theory, and a prolific author. Mises’s writings and lectures encompassed economic theory, history, epistemology, government, and political philosophy. His contributions to economic theory include important clarifications on the quantity theory of money, the theory of the trade cycle, the integration of monetary theory with economic theory in general, and a demonstration that socialism must fail because it cannot solve the problem of economic calculation. Mises was the first scholar to recognize that economics is part of a larger science in human action, a science that he called praxeology.
Munchen und Leipzig: Ferlag von Duncker & Humblot, 1912 (Theory of Money and Credit [Fiduciary Media], first edition)