2023-12-15 07:54:44
book summary
In this book, in its 8th revised edition, and in pocket format, Professor Huerta de Soto critically analyzes the economic and legal foundations of the current monetary and credit system. This is characterized by its high degree of interventionism and regulation, and has become the Achilles heel of modern economies, as demonstrated in the current global financial crisis.
Money bank credit and economic cycles. Indeed, already in the second decade of the 21st century, despite the fall of “real socialism”, the discredit of interventionism and the triumph of liberal economic prescriptions, the financial sector of market economies continues to be heavily regulated, intervened and directed by that powerful financial “planning body” that is the central bank. Thus, a financial system has been formed that is a continuous source of instability, since it continues to generate deep structural imbalances in the real economy, giving rise to financial crises and economic recessions that have been recurrently affecting market economies since that the current banking system emerged historically.
Professor Huerta de Soto explains in this work, the result of long years of intellectual maturation, the cause, evolution and consequences of all these phenomena, proposing a reform project aimed at establishing the only monetary and financial system that he considers truly compatible with long term with a free market economy.
Introduction.
Chapter I: The legal nature of the irregular money deposit contract.
Chapter II: The violation of the legal principles of the irregular money deposit contract throughout history.
Chapter III: Attempts at the legal foundation of fractional reserve banking.
Chapter IV: the banking process of credit expansion.
Chapter V: Effects of bank credit expansion on the economic system.
Chapter VI: Complementary considerations on the theory of the business cycle.
Chapter VII: Criticism of monetarist and Keynesian theories.
Chapter VIII: Theory of central banking and free banking.
Chapter IX: A proposal to reform the banking system. The theory of the 100 percent cash ratio.
Bibliography.
Subject index.
Name index.
Chicago Citation
Huerta de Soto, Jesus
Money, bank credit and economic cycles. Madrid: Editorial Union, 2023
APA Citation
Huerta de Soto, Jesús (2023).
Money, bank credit and economic cycles. Publishing union
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