4 ms·

Zimbabwe had Hyperinflation more than 20 years after achieving independence and the civil war ended. It was because of land invasions where land was stolen fro

Zimbabwe had Hyperinflation more than 20 years after achieving independence and the civil war ended. It was because of land invasions where land was stolen from productive white farmers (and later mines) and the resultant collapse of the agricultural sector and therefore loss of foreign currency which they tried to solve with money printing.

unmole 4y ago
> where land was stolen from productive white farmers Pray tell us, how did white farmers come to own land in Zimbabwe?
- jcbrand 4y ago
  Everybody impoverishing themselves via hyperinflation seems a bit like a counterproductive way to deal with historical inequities. Many of the white farmers bought the land (from other farmers) and didn't take it by force.
  - unmole 4y ago
    Mugabe's land reforms most definitely had a devestating impact on agricultural productivity. But the hyperinflation was almost entirely a monetary phenomenon. All the productivity in the world won't mean anything if the money printers are running at full steam. > Many of the white farmers bought the land (from other farmers) and didn't take it by force. Knowingly buying stolen goods is not much better than stealing.
    - jcbrand 4y ago
      The hyperinflation had everything to do with the land grabs because the country ran out of foreign currency due to the collapse of the agriculture sector. For instance Zimbabwe made a lot of foreign currency by exporting tobacco. Btw much of the stolen land was given to government chronies and many of them took multiple, large and successful farms worth millions of dollars for themselves. Knowingly buying stolen goods is not much better than stealing. The land wasn't legally considered or treated as stolen goods and was available on the open market to all races for multiple decades. The current government has basically acknowledged that the land was stolen because they've now promised to compensate the white farmers. https://www.reuters.com/article/us-zimbabwe-farmers-idUSKCN24U1OM https://www.reuters.com/article/us-zimbabwe-farmers-idUSKCN2...
      - unmole 4y ago
        > The hyperinflation had everything to do with the land grabs because the country ran out of foreign currency due to the collapse of the agriculture sector. Hyperinflation has a lot more to do with the fact the government irresponsibly printed ridiculous amounts of money. Farm confiscation and land redistribution happened in 2000 and 2001. Hyperinflation peaked in 2009. > The land wasn't legally considered or treated as stolen goods and was available on the open market to all races for multiple decades. Right. Because the colonial rule left all races at the same socioeconomic standing and there actually was a free market. > The current government has basically acknowledged that the land was stolen That's a very creative interpretation: > The agreement signed at President Emmerson Mnangagwa’s State House offices in Harare showed white farmers would be compensated for infrastructure on the farms and not the land itself
        jcbrand 4y ago
        Hyperinflation has a lot more to do with the fact the government irresponsibly printed ridiculous amounts of money. Yes but why did they do that? I already said twice why.

unmole 4y ago

> where land was stolen from productive white farmers Pray tell us, how did white farmers come to own land in Zimbabwe?

jcbrand 4y ago
Everybody impoverishing themselves via hyperinflation seems a bit like a counterproductive way to deal with historical inequities. Many of the white farmers bought the land (from other farmers) and didn't take it by force.
- unmole 4y ago
  Mugabe's land reforms most definitely had a devestating impact on agricultural productivity. But the hyperinflation was almost entirely a monetary phenomenon. All the productivity in the world won't mean anything if the money printers are running at full steam. > Many of the white farmers bought the land (from other farmers) and didn't take it by force. Knowingly buying stolen goods is not much better than stealing.
  - jcbrand 4y ago
    The hyperinflation had everything to do with the land grabs because the country ran out of foreign currency due to the collapse of the agriculture sector. For instance Zimbabwe made a lot of foreign currency by exporting tobacco. Btw much of the stolen land was given to government chronies and many of them took multiple, large and successful farms worth millions of dollars for themselves. Knowingly buying stolen goods is not much better than stealing. The land wasn't legally considered or treated as stolen goods and was available on the open market to all races for multiple decades. The current government has basically acknowledged that the land was stolen because they've now promised to compensate the white farmers. https://www.reuters.com/article/us-zimbabwe-farmers-idUSKCN24U1OM https://www.reuters.com/article/us-zimbabwe-farmers-idUSKCN2...
    - unmole 4y ago
      > The hyperinflation had everything to do with the land grabs because the country ran out of foreign currency due to the collapse of the agriculture sector. Hyperinflation has a lot more to do with the fact the government irresponsibly printed ridiculous amounts of money. Farm confiscation and land redistribution happened in 2000 and 2001. Hyperinflation peaked in 2009. > The land wasn't legally considered or treated as stolen goods and was available on the open market to all races for multiple decades. Right. Because the colonial rule left all races at the same socioeconomic standing and there actually was a free market. > The current government has basically acknowledged that the land was stolen That's a very creative interpretation: > The agreement signed at President Emmerson Mnangagwa’s State House offices in Harare showed white farmers would be compensated for infrastructure on the farms and not the land itself
      - jcbrand 4y ago
        Hyperinflation has a lot more to do with the fact the government irresponsibly printed ridiculous amounts of money. Yes but why did they do that? I already said twice why.