when money dies the nightmare of the weimar collapse

capital and labour in the Weimar Republic When money dies: the nightmare of hyperinflation. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. rating 1085 Ratings When Money Dies is the classic history of what happens when a nation’s currency depreciates beyond recovery. When Money Dies is the classic history of what happens when a nations currency depreciates beyond recovery. 'synopsis' may belong to another edition of this title. When Money Dies: the Nightmare of the Weimar Collapse (Paperback) Adam Fergusson (author) 1 Review Sign in to write a review £12.99 Paperback 288 Pages Published: This product is currently unavailable. Why did Weimar really crash during the Great Depression. When Money Dies The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany PublicAffairs, New York, 2010. When Money Dies: The Nightmare Of The Weimar Hyper Inflation by Adam Fergusson 3.74 avg. Money may no longer be physically printed and distributed in the voluminous quantities of 1923.Â However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline.Â Whatever the reason for a country’s deficitâ necessity or profligacy, unwillingness to tax or blindness to expenditureâ it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession.Â What if it does not?Â Germany in 1923 provides a vivid, compelling, sobering moral tale.

People watched helplessly as their life savings disappeared and their loved ones starved.Â Germany’s finances descended into chaos, with severe social unrest in its wake.

When Money Dies is the classic history of what happens when a nation’s currency depreciates beyond recovery.Â In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy.Â Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread a cinema ticket could be bought for a lump of coal and a bottle of paraffin for a silk shirt.

When money dies the nightmare of the weimar collapse