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The populist blowbacks from that were a major cause of the second world war.
by ericd 4mo ago
The populist blowbacks from that were a major cause of the second world war.
- dnautics 4mo agoweimar republic created hyperinflation, in response to deflation, and so at best its a second order effect with a not so subtle intervening policy that was the primary target of the backlash
- ericd 4mo agoI thought it was monetizing fiscal deficits due to WW1 war reparations payable only in gold?
- smallmancontrov 4mo agoYes, dnautics is confused. In the early 20s Germany hyperinflated to pay reparations, they subsequently became allergic to inflationary policy, and then when the deflationary wave of the Great Depression hit in the late 20s they were allergic to the correct policy response, so they let deflation bite, and a certain Austrian fellow rode that pain into power.