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Don't forget Weimar Germany was under the thumb of the truly punitive economic features of the Treaty of Versailles. French PM Clemenceau insisted on punishing
by OliverJones 6y ago
Don't forget Weimar Germany was under the thumb of the truly punitive economic features of the Treaty of Versailles. French PM Clemenceau insisted on punishing Germany for starting WW1. The Marshall Plan after WW2 was a largely successful effort to avoid repeating that, for the west anyway.
John Maynard Keynes more-or-less predicted the Weimar meltdown in his 1920 book The Economic Consequences of the Peace. https://www.worldcat.org/title/economic-consequences-of-the-peace/oclc/654475230 https://www.worldcat.org/title/economic-consequences-of-the-... Still worth reading.
Since Weimar the western world has developed various negative-feedback loops (using the lingo of control theory) to interrupt hyperinflation. Some of that comes from Keynes's own work. Those loops are big and clunky, but so far they work. The US Federal Reserve manages many of those loops, and has the dual mission of keeping inflation low and employment high.
It might be a good idea to learn more about all this before investing your kids' college money according to this hyperinflation fear.
- anonymousDan 6y agoHave you any good resources beyond the link you gave?