3 ms·
When Money Dies is on my to-read list, but haven't gotten to it yet. However, there's some interesting stuff available that may be of interest in this matter:
by throw0101a 5y ago
When Money Dies is on my to-read list, but haven't gotten to it yet. However, there's some interesting stuff available that may be of interest in this matter:
> Weimar is often mentioned as if it were the only case of post WWI currency collapse. In fact, as the CATO working paper by Hanke and Krus (2012) points out, it was one of 6 cases: Germany, Austria, City of Danzig, Russia/USSR, Hongary Poland.
> Now think about that – did 6 different governments, all within a 4 year time period, and all bordering each other and/or in the same post WWI region and intellectual/political climate (with the seeds of the some of the farthest right and farthest left regimes in all of history within them that would lead to WWII just ~18 years later)—
> Did all of a sudden this little world region and precise time period and intellectual milieu decide to just start spending like crazy? At the same time? While the rest of the world did not?
* https://clintballinger.wordpress.com/2021/01/12/the-myth-of-hyperinflation/ https://clintballinger.wordpress.com/2021/01/12/the-myth-of-...
> The Weimar Republic is the most notable hyperinflation. But it was not the only case of hyperinflation that occurred in Europe at the time. In fact, several European nations were ravaged by the war, war reparations and regime changes that ensued. In the case of Weimar the country was already in a fragile state after Germany lost WWI. To add insult to this injury the allied nations demanded punitive war reparations resulting in foreign denominated debt.
* https://www.pragcap.com/hyperinflation-its-more-than-just-a-monetary-phenomenon/ https://www.pragcap.com/hyperinflation-its-more-than-just-a-...
> In this paper I will argue why the common misconception that “inflation is always and everywhere a monetary phenomenon” cannot be used to explain most historical hyperinflations. I will argue that “money printing” is often the response to exogenous and unusual events and not the direct cause of the hyperinflation.
* https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1799102 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1799102
In Germany, the argument goes, it the problem wasn't necessarily that printing money was the cause of inflation, but rather the printing of money was the effect of something else.