Money, Bank Credit, and Economic Cycles
Jesus Huerta de Soto
Ludwig von Mises Institute
Such a book as this comes along only once every several generations: a complete comprehensive treatise on economic theory. It is sweeping, revolutionary, and devastating--not only the most extended elucidation of Austrian business cycle theory to ever appear in print but also a decisive vindication of the Misesian-Rothbardian perspective on money, banking, and the law.<br>Its five main contributions:<br>* a wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times,<br>* an application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena,<br>* a comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy,<br>* an application of the Austrian critique of socialism to central banking,<br>* the most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship.