Treatise on Money

Joseph A. Schumpeter

edited by Fritz Karl Mann

translated by Ruben Alvarado

by permission of Vandenhoeck & Ruprecht, Göttingen

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Together with John Maynard Keynes and Milton Fried­man, Joseph Schumpeter is regarded as one of the three greatest economists of the 20th century. And yet, his actual economic writing has remained something of an enigma.

Capitalism, Socialism, and Democracy, his best-known work, was, in his own view, an unscientific throw-off. His major eco­nomic works – The Theory of Economic Development and Business Cycles – have been misunderstood and under­ap­pre­ciated. What has not been realized is that key elements of the Schumpeterian system have hitherto gone missing. Clues to that system were contained in his magisterial History of Economic Analysis, but the full-orbed outworking was only contained in his unpublished German manuscript on money and banking.

Now published for the first time in English translation, the Treatise on Money provides the key to understanding Schum­pe­ter’s system. It shows that Schumpeter’s famous concept of “creat­ive destruction” entails a more complex phenomenon than is popularly understood. In particular, it provides an under­standing of the workings of money, banking, and the money and capital markets, that is supremely relevant in the light of current monetary and fiscal policy crises. All in all, it is an indispensable con­tribution to revealing the true Schumpeter to the English-speaking world.

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BOOK INFORMATION:

ISBN: 978-90-76660-36-3
Editor: Fritz Karl Mann
Translator: Ruben Alvarado
Page count: xli, 336
Price (list): $19.99, £11.99
Publication date: June 30th, 2014