INTRODUCTION Ludwig von Mises (1881-1973) made a major contribution to the theory of money with the publication of his book, The Theory of Money and Credit (1912). He was 31 years old. It was translated into English in 1924. It was updated in 1934. The 1934 edition was reprinted, without changes except for an appendix, in 1953 by Yale University Press. It had previously been published in England. He followed this path-breaking book with what has proven to be one of the most important essays in the history of economic theory: “Economic Calculation in the Socialist Commonwealth” (1920). In it, … Continue reading Mises on Money