Why read The Theory of Money and Credit?

Book cover of The Theory of Money and Credit

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"It is impossible to grasp the meaning of the idea of sound money if one does not realize that it was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments." - from The Theory of Money and Credit

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Why read it?

1 author picked The Theory of Money and Credit as one of their favorite books. Why do they recommend it?

Michael G. Pento

Author

Written over a century ago, this is a book for the ages.

I read this book early in my career, and it provided a basis for understanding money that helped form my current economic theories. Mises reveals how money originated in the market and how its value is based on its efficacy as a commodity in exchange.

Mises concisely lays out the case for sound money with no inflation and introduces the beginnings of a full-scale business cycle theory.

From Michael's list on The best books to understand how fiscal and monetary prolificacy has destroyed America’s foundation of freedom.