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Written in 1923 during a period of German hyperinflation, this book discusses the consequences of the fluctuating purchasing power of paper money and explores such ideas as the outcome of inflation, that is, the result of the increase in the amount of money, and an emancipation of monetary value from the influence of government.

On the Manipulation of Money & Credit: Three Treatises on Trade-Cycle Theory

Introduction; The Outcome of Inflation; The Emancipation of Monetary Value from the Influence of Government; The Return to Gold; The Money Relation; Comments on the "Balance of Payments" Doctrine; The Inflationist Argument; The New Monetary System; The Ideological Meaning of Reform; The Problem; The Gold Standard; The "Manipulation" of the Gold Standard; "Measuring" Changes in the Purchasing Power of the Monetary Unit; Fishers Stabilization Plan; Goods-induced & Cash-induced Changes in the Purchasing Power of the Monetary Unit; The Goal of Monetary Policy; Stabilization of the Purchasing Power of the Monetary Unit & Elimination of the Trade Cycle; Circulation Credit Theory; The Reappearance of Cycles; The Crisis Policy of the Currency School; Modern Cyclical Policy; Control of the Money Market; Business Forecasting for Cyclical Policy & the Businessman; The Aims & Method of Cyclical Policy; The Nature & Role of the Market; Cyclical Changes in Business Conditions; The Present Crisis; Is There a Way Out?; Index.