and

Essays in Celebration of the Centennial

Edited by

Jörg Guido Hülsmann

Published in 2012 by the Ludwig von Mises Institute under the Creative Commons Attribution License 3.0. http://creativecommons.org/licenses/by/3.0/

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ISBN: 978-1-61016-258-6

eISBN: 978-1-61016-581-5

In December of 1911, Ludwig von Mises finished revising the proof pages of his Theorie des Geldes und der Umlaufsmittel. He had worked on the book for most of the previous six years, and he had also submitted the manuscript to the University of Vienna as a habilitation thesis in order to obtain the much-coveted license to lecture on the university level (venia legendi). A few months later, he would hold the first copies in his hands.

Jörg Guido Hülsmann

The Early Evolution of Mises’s Monetary Theory

The publication of Ludwig von Mises’s Theorie des Geldes und der Umlaufsmittel in 1912 marks a turning point in the history of economics, and of the Austrian School in particular. Mises integrated the theory of money within the framework of the theory of subjective value pioneered by Carl Menger.

Amadeus Gabriel

Why was the Reception of the First Edition of Mises’s Theory of Money and Credit so Lukewarm?

1. Introduction

The German monetary theorists of the nineteenth century are virtually unknown in English-speaking countries.

Malavika Nair

Böhm-Bawerk’s Influence on Mises’s Typology of Money

Introduction

This year marks the hundredth anniversary of the publication of Mises’s (1981) book The Theory of Money and Credit. While monetary and financial instruments have evolved and grown in multifarious ways since it was first published, the theoretical concepts and analysis in the book still provide us with tremendous explanatory power over the real world today. This fact in no small way attests to the greatness of the book.

Mateusz Machaj

Mises and Value Theory

Introduction

Value theories are murky waters in economic science, because the word “value” denotes several meanings. In some works it aspired to be “Value” with capital “V.” The key economic variable, a universal fundamental, is to explain prices, exchanges, equilibrium paths, perhaps even social relations, and unavoidable laws of history.

Joseph T. Salerno

Ludwig von Mises as Currency School Free Banker

1.

Matthew McCaffrey

The Influence of the Currency-Banking Dispute on Early Viennese Monetary Theory

Introduction

Vienna at the beginning of the twentieth century witnessed one of the most remarkable moments in the history of monetary theory.