Mises's Analysis of Inflation: An Integration of Marginal Utility Theory with Menger’s Cash-Balance Approach to the Demand for Money

Mises’s pathbreaking analysis of inflation developed out of his integration of Austrian marginal utility theory with Carl Menger’s cash-balance approach to the demand for money and the monetary process analysis originated by eighteenth- and nineteenth-century economists such as Richard Cantillon, David Hume, and J.E. Cairnes.... In contrast to his analysis of the inflation adjustment process, which has gained substantial recognition, Mises’s innovative approach to expectations has garnered little if any attention, even from Austrian-oriented economists.
--Joseph T. Salerno, Money: Sound and Unsound (Auburn, AL: Ludwig von Mises Institute, 2010), 199n.