This is a new release of the original 1930 edition.

2011 Reprint of 1930 Two Volume American Edition. Complete. Two volumes bound into one. Volume One: "The Pure Theory of Money." Volume Two: "The Applied Theory of Money." Full facsimile of the original edition, not reproduced with Optical Recognition Software. Volumes One and Two of Keynes' classic work published in a handy one volume format. Exact facsimile of the original Edition. Keynes had begun a theoretical work to examine the relationship between unemployment, money and prices back in the 1920s. The work was originally published in 1930 in two volumes. We reproduce this two volume edition in one volume. A central idea of the work was that if the amount of money being saved exceeds the amount being invested - which can happen if interest rates are too high - then unemployment will rise. This is in part a result of people not wanting to spend too high a proportion of what employers pay out, making it difficult, in aggregate, for employers to make a profit.

This is a new release of the original 1930 edition.

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 also an unscientific throw-off in his view. 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were contained in his magisterial History of Economic Analysis, but the full-orbed outworking was contained in his unpublished German manuscript on money and banking. Now published in English translation, the Treatise on Money provides the key to understanding Schumpeter's system. It shows that Schumpeter's famous emphasis on 'creative destruction' is 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 are supremely relevant in the light of current monetary and fiscal policy crises. This present volume is therefore an indispensable contribution to revealing the true Schumpeter to the English-speaking world.

In this treatise we find an insightful analysis concerning how monetary debasement and inflation increase prices, which proceeds to illustrate how such increases do not affect everyone equally-in effect, causing a revolution in fortunes. In a parallel argument, Mariana explains how government, if given control of other forms of private property, would also debase the values of those forms and use them according to its own interests.