El misterio de la banca

Readers of The Mystery of Banking will discover at the end of the book that money and banking, contrary to what the title might suggest, are no longer a mystery to them. Essays around money and banking are often boring and confusing, but Murray N. Rothbard details the essential issues step by step. How does the renowned American economist proceed? Following his mentor Ludwig von Mises, he integrates monetary theory with the basic principles of the theory of value that apply to all goods and services. The play begins with a discussion about supply and demand. Once he understands how prices are determined in a free market, the reader will be able to understand how the same principles apply to the demand and supply of money. With his characteristic clarity and incision, Rothbard explains the origins of money. Mises's regressive theorem shows that money had to originate as a commodity. Next, Rothbard talks about banking history. He shows the difference between loan banking and deposit banking. The author provides a detailed description of how central banking developed in England and Scotland. Central banking made massive inflation possible. In greater detail, he discusses the banking history of the United States in the 19th and 20th centuries. We will finally learn how the Federal Reserve System promotes monetary instability and business cycles. Rothbard concludes by explaining how we can return to a sound monetary system, based on the gold standard. Ultimately, The Mystery of Banking explores the key principles that will allow its readers to fully understand the state of the current financial economy.