Media Asset
Author:
Jörg Guido Hülsmann
Online Publish Date:
This 1912 book is Mises’ first great theory. Mises agreed with Menger about the spontaneous emergence of money. No government is needed. Mises used a logical proof called the regression theory. It explained why money is demanded in its own right. Five major contributions Mises made were: 1) the nature of money, 2) a theory of the value of money,