The business cycle is a complex phenomenon. On the surface, it involves a multitude of mechanisms, such as oscillations in interest rates, prices, wages, unemployment, output, and spending. But a deeper understanding requires a unifying theory to make these various parts whole. Money, Banking, and the Business Cycle provides a comprehensive framework for analyzing these mechanisms, and offers a robust prescription for reducing financial instability over the long-term. Volume II refutes Keynesian and real business cycle theories and provides policy prescriptions to virtually eliminate the cycle. Simpson offers a detailed analysis of several historical monetary systems around the world and shows the causes and effects of fiat money and fractional-reserve banking, as well as a 100-percent reserve gold standard.

商业周期是一个复杂的现象。从表面上看，它涉及多种机制，如利率、价格、工资、失业、产出和支出的波动。但更深刻的理解需要一个统一的理论，使这些不同的部分成为一个整体。货币、银行和商业周期为分析这些机制提供了一个全面的框架，并为长期减少金融不稳定提供了一个强有力的处方。第二卷驳斥了凯恩斯和真实经济周期理论，并提供了政策处方，从根本上消除周期。辛普森详细分析了世界各地的几种历史货币体系，展示了法定货币和部分准备金银行制度以及100%准备金金本位制的原因和影响。