Money, Bank Credit, and Economic Cycles
Dinero, Crédito Bancario y Ciclos Económicos
Автор(и) : Jesús Huerta de Soto
Издател : Ludwig von Mises Institute
Място на издаване : Auburn, Alabama, USA
Година на издаване : 2009
ISBN : 978-1-933550-39-8
Брой страници : 885
Език : английски
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Jesús Huerta de Soto, professor of economics at the Universidad Rey Juan Carlos, Madrid, has made history with this mammoth and exciting treatise. He integrates sweeping history and rigorous theory to make the good-as-gold case that the institutions of money and banking can be part of the free market - without a central bank, without bailouts, without inflation, without business cycles, and without the economic instability that has characterized the age of government control.
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.
Jörg Guido Hülsmann has said that this is the most significant work on money and banking to appear since 1912, when Mises's own book was published and changed the way all economists thought about the subject.
Its five main contributions:
• a wholesale reconstruction of the legal framework for money and banking, from the ancient world to modern times,
• an application of law-and-economics logic to banking that links microeconomic analysis to macroeconomic phenomena,
• a comprehensive critique of fractional-reserve banking from the point of view of history, theory, and policy,
• an application of the Austrian critique of socialism to central banking,
• the most comprehensive look at banking enterprise from the point of view of market-based entrepreneurship.
“In the midst of the current monetary crisis, I find it useful to review Jesus Huerta de Soto’s Money, Bank Credit, and Economic Cycles (2nd Edition, Auburn, AL, Ludwig von Mises Institute, 2009). Jesus Huerta de Soto is professor of political economy at the King Juan Carlos University in Madrid, and has presented several papers to Mont Pelerin Society meetings. At 885 pages, the book is encyclopedic, and as Jean-Claude Trichet said: “It is indeed a remarkably stimulating and thought provoking summa.” - Leonard P. Liggio
Jesús Huerta de Soto
Jesús Huerta de Soto Ballester (born 23 December 1956, in Madrid) is a leading Austrian School economist and Professor of Political Economy at Rey Juan Carlos University of Madrid, Spain. He received doctoral degrees in Law (1984) and Economic and Business Sciences (1992), both from Complutense University of Madrid, and an MBA from Stanford University. He has been a Professor of Political Economy at Complutense University of Madrid's Law School since 1979. In 1983, Huerta de Soto received the extraordinary Rey Juan Carlos Award in Economics, in 2005 the CNE's Adam Smith Award for lifetime achievement and in 2009 he was awarded a honorary degree from Universidad Francisco Marroquin.
Huerta de Soto is also an adjunct scholar of the Ludwig von Mises Institute, a member of Mont Pelerin Society's Board of Directors, of the Board of Trustees and the Scientific Council of the Foundation IMDEA Social Sciencies, and of the Quarterly Journal of Austrian Economics' editorial board and director of the publication "Procesos de mercado: Revista Europea de Economía Política".