Mises was a major economist and a founding father of modern free-market economic thinking. His “Austrian School” approach emphasizes individual knowledge, choice, and action in its analyses of economic processes. In his classic 1912 treatise on monetary theory, Mises for the first time applied Austrian methods to macroeconomics, in this part, explaining money’s foundations and fundamental uses.
Read Mises’s full treatise. Summary by Andrei Volkov and Stephen Hicks, 2019.