Hayek wrote. It serves as a primer into Hayek’s monetary and capital theories. In it, he takes the time to dismember opposing monetary theories of the trade cycle, discarding faulty analysis and maintaining sound foundations, as to lead to his own monetary theory of the trade cycle.Hayek’s trade cycle theory is largely based on the headway made in capital theory by Wicksell and Böhm-Bawerk, and Ludwig von Mises’s spectacular insights on monetary theory (The Theory of Money and Credit), and was later further developed in Prices & Production, published in 1931.

    Reissued in the original German in 1970 , Grossmann's work has also appeared in Japanese, but there has never (until now) been an English edition. This is an important volume ... it will be essential reading for anyone with an interest in the development of Marxian economic theory.' Science & Society