Money and Credit - Volume II Austrian economist Prof. Antal Fekete has published his Opus Magnum in 4 volumes or about 900 pages. This second volume contains the missing theory on the working of the gold standard. But that would be the unadulterated gold standard that is free from political interference by pressure groups or ideological derailments. Besides the analysis of a circulating gold coin standard, the work starts with the Carl Menger’s astute observations on value and price. Both are missing in mainstream economic theory and contemporary Austrian economics has hardly worked out its consequences. An all important link between human freedom and a circulating gold coin standard surfaces, which all other works on the gold standard have never described. But here you have it. Von Mises is correct in many respects and Carl Menger, being the father of the Austrian School, laid the foundations. The rest was up to his school. Ludwig Von Mises, Eugen von Bohm-Bawerk and others. This work contains the integration of the Marginal TIme-Preference and Marginal Productivity of Capital approaches to the formation of interest, besides a host of new and important theory, never published by any Austrian School, let alone mainstream economics. Yet this work is not laced by spurious mathematics. The theory of the gold bill may even contribute to your future well-being, much more than a well-fare state ever will.

Full colour hardcover publication containing illustration or graphic aids, Academic work with endnotes and bibliography on the missing theory of the gold standard and its importance for today regarding the origin of interest and discount and the distributed way in which the gold standard set the levels of these rates without governmental interference.