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The monography "the Monetary theory and media of circulation". The second edition it left in

To Vienna in 1924, then it was republished in the processed kind in transfer on

English under the name "the Monetary theory and the credit"; the American edition

Was issued in 1953 that testifies, as for forty years of its idea not Have lost significances.

Money, according to Mizesa, without being neither a production assets, nor a subject

Circulations. To a monetary theory of Mizes subsequently has come back, when to it after

The First World War it was necessary to attend to working out of anti-inflationary measures.

In the same premilitary years Mizes works and over the theory of cycles Enterprise activity (business cycles).

- always tested bent for to a teaching, to an exposition of the sights not on

To paper only, and in live dialogue. And in this respect its life, appear, Developed safely. At one time he taught economy, state

The right and management in the Viennese commercial female academy. In its 1913

Have invited to a professorial post in the Viennese University.

But scientific and teaching career was interrupted with the First World War. Three years

Artillery officer Ludwig has conducted a background of Mizes at the front, then served

The economist in the Ministry of Defence.

After disintegration of Austro-Hungarian empire Mizes continued work in Viennese

To the chamber of commerce which has become some kind of an economic staff of the government and

Parliamentary circles. As the economic adviser of the government in the beginning

The twentieth years Mizes followed a rigid anti-inflationary policy. To it in the considerable

Degrees Austria is obliged by that she has not worried so destructive Hyperinflations as Germany, and much earlier it is already in 1922 - Stabilised the currency.

But not inflation problems took first of all mind of Mizesa and not successes on

This field have made its world famous researcher. Russian revolution 1917, a short-term victory of communists in Bavaria and Hungary, lifting Anticapitalist movement in other countries - all it has paid interests - to ideology of a socialism. Since then the central place in works

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