In the Theory of Money and Credit, Mises tried to integrate all parts of the economic system, which had previously been separated. ... The previous view of relations between the quantity of money and the price level, of "velocities of circulation- and "equations of exchange- was explicitly demolished by Mises on behalf of an integrated application of the marginal utility theory to the supply and demand for money itself. ... The increase begins at one point in the economic system and prices will only rise as the new money spreads in ripples throughout the economy. ...

• Word Count: 2749
• Approx Pages: 11
• Grade Level: Undergraduate

Russia has a remarkably inefficient tax system, which has allowed widespread nonpayment of taxes. ... This crisis was due to many factors, including a lack of maturity in the financial systems, widespread non-payment of taxes among both individuals and firms, and stability within the government and other infrastructure. ... In time, as they develop a more workable financial system, a stable tax base and tax revenue stream, Western interest should return. ...

• Word Count: 4431
• Approx Pages: 18
• Has Bibliography