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The Journal of Finance just published this paper: "Financial crises and political radicalization: How failing banks paved Hitler's path to power" https://www.bi

The Journal of Finance just published this paper: "Financial crises and political radicalization: How failing banks paved Hitler's path to power" https://www.bis.org/publ/work978.htm https://www.bis.org/publ/work978.htm.

theptip 4y ago
The recent biography of Keynes (“The Price of Peace” by Carter) spends a lot of time discussing similar theories put forth at the time; Keynes was very critical of the Treaty of Versailles as he considered it an inevitability that crushing the German economy post-WW1 would produce a nationalist demagogue. Indeed, the treatise by Keynes after which the biography was named provided a technical argument for that thesis.
- everybodyknows 4y ago
  In The Economic Consequences of the Peace (1919) Keynes puts the blame squarely on the French delegation as led by Clemenceau: https://en.m.wikipedia.org/wiki/The_Economic_Consequences_of_the_Peace https://en.m.wikipedia.org/wiki/The_Economic_Consequences_of...
- Starlevel001 4y ago
  > crushing the German economy post-WW1 It was so crushed it was the strongest economic power in Europe by 1923. Truly a crippling burden.
  - theptip 4y ago
    https://en.wikipedia.org/wiki/European_interwar_economy https://en.wikipedia.org/wiki/European_interwar_economy > By 1932, close to six million people were unemployed. The situation in Germany became so precarious that Hitler and the Nazi party started to gain the support of the people.[11] https://en.wikipedia.org/wiki/Golden_Twenties https://en.wikipedia.org/wiki/Golden_Twenties > The United States was the only country to come out of World War I without debt or reparations to pay. Germany owed a huge sum and had to take a loan from the US just to survive. No one had any hint that there would be a stock market crash with worldwide repercussions and that this crash would ruin Germany and set the stage for Hitler to come into power.

theptip 4y ago

The recent biography of Keynes (“The Price of Peace” by Carter) spends a lot of time discussing similar theories put forth at the time; Keynes was very critical of the Treaty of Versailles as he considered it an inevitability that crushing the German economy post-WW1 would produce a nationalist demagogue. Indeed, the treatise by Keynes after which the biography was named provided a technical argument for that thesis.

everybodyknows 4y ago
In The Economic Consequences of the Peace (1919) Keynes puts the blame squarely on the French delegation as led by Clemenceau: https://en.m.wikipedia.org/wiki/The_Economic_Consequences_of_the_Peace https://en.m.wikipedia.org/wiki/The_Economic_Consequences_of...
Starlevel001 4y ago
> crushing the German economy post-WW1 It was so crushed it was the strongest economic power in Europe by 1923. Truly a crippling burden.
- theptip 4y ago
  https://en.wikipedia.org/wiki/European_interwar_economy https://en.wikipedia.org/wiki/European_interwar_economy > By 1932, close to six million people were unemployed. The situation in Germany became so precarious that Hitler and the Nazi party started to gain the support of the people.[11] https://en.wikipedia.org/wiki/Golden_Twenties https://en.wikipedia.org/wiki/Golden_Twenties > The United States was the only country to come out of World War I without debt or reparations to pay. Germany owed a huge sum and had to take a loan from the US just to survive. No one had any hint that there would be a stock market crash with worldwide repercussions and that this crash would ruin Germany and set the stage for Hitler to come into power.