The classic on monetary theory. This textbook on monetary theory is one of the most successful books of its kind. The author, Prof. Dr. Dr. h.c. mult. Otmar Issing, former member of the Executive Board of the European Central Bank and "father of the euro," excels at presenting the current state of modern monetary theory in a clear and concise manner. The volume provides students with helpful guidance in the debate between Keynesians, monetarists, and liquidity theorists. Current monetary theory: The new edition includes discussions on the most important developments in credit market theory, the impact of the financial market crisis on the money market, and the relationship between the financial market crisis and liquidity. In summary: money, demand for money, money supply, interest theory, money quantity, monetary demand, price level and employment, liquidity, inflation theory.