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Silviu CERNA
Universitatea de Vest din Timişoara
Ludwig von Mises’s (1881-1973) contribution to the development of money and credit theory is contained in two monumental books – Theory of Money and Credit (1912) and Human Action. A Treatise on Economics (1949) – and in some other works of narrower scope. The aforementioned contribution concerns the following themes: definition and origin of money; the optimum amount of money and how to achieve it; the myth of neutral money and its corollary, price stability; banking with fractional reserves and limitation of the issuance of fiduciary means; the monetary-lead malinvestment theory of the business cycle. These themes are closely related to the building blocks of economic theorizing: the functioning of the free market and the consequences of state intervention in the economy, for the Misesian system of economic thought is indeed a system.
ŒCONOMICA no. 1/2019
Keywords: money, banking, economic cycle, credit, inflation, free market, interest rate
JEL: B25, E30, E40, E50
Mises’s Contribution to the Theory of Money and Credit [Contribuţia lui Mises la teoria banilor şi creditului]
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Octavian-Dragomir JORA
Academia de Studii Economice din Bucureşti
Mara Andreea TUDOR
University of Chicago
Cătălin MURARAŞU
Academia de Studii Economice din Bucureşti
Ramona Iulia DIEACONESCU
Academia de Studii Economice din Bucureşti
Maria GHEORGHE (NIŢU)
Academia de Studii Economice din Bucureşti
Sorin-Nicolae CURCĂ
Academia Română
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