Monday, May 07, 2012
Again on hyperinflation during the Weimar Republic and Hitler's rise to powerI posted back in January about Paul Krugman commenting on what has long been one of my pet peeves, the idea that the German hyperinflation of 1923 led directly to Hitler and his Nazi Party (NSDAP) taking power in 1933, nine years later.
M E Synon also posted on that same topic in February, Merkel forgets Germany's history: 'Austerity not inflation gave us Hitler' Daily Mail 02/07/2012:
... here are some lines from a letter to the editor in the Financial Times yesterday. It comes from Anthony Murray in Kingston-on-Thames.In my earlier post, I included this table from Peter Gay's The Dilemma of Democratic Socialism: Eduard Bernstein's Challenge to Marx (1952):
Repeating what I wrote in January:
The hyper-inflation incident was primarily a phenomenon of 1923. This is the period about which those stories are told about a loaf of bread costing a wheelbarrow full of money or whatever. A new currency was introduced late in 1923 and inflation stabilized.On the hyperinflation itself, see also Alexander Jung, Millions, Billions, Trillions: Germany in the Era of Hyperinflation Spiegel International 08/14/2009 14.08.2009
Tags: german history, hitler, hyperinflation, weimar republic
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No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."
-- Cecil Day-Lewis from Where Are The War Poets?
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