Title
When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany,New
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The classic history of the political and economic devastation wrought by runaway inflation in Weimar Germany?brilliant? (Guardian)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. 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. People watched helplessly as their life savings disappeared and their loved ones starved. Germany's finances descended into chaos, with severe social unrest in its wake.Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, 'quantitative easing,' that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country's deficitnecessity or profligacy, unwillingness to tax or blindness to expenditureit 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. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.
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We provide a 2-year limited warranty, from the date of purchase for all our products.
If you believe you have received a defective product, or are experiencing any problems with your product, please contact us.
This warranty strictly does not cover damages that arose from negligence, misuse, wear and tear, or not in accordance with product instructions (dropping the product, etc.).
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Frequently Asked Questions
- Q: What is the main topic of 'When Money Dies'? A: 'When Money Dies' explores the devastating effects of hyperinflation in Weimar Germany, detailing the political and economic chaos that ensued when the currency became virtually worthless.
- Q: Who is the author of this book? A: The book is authored by Adam Fergusson, who provides a historical account of the inflation crisis in Germany during the early 1920s.
- Q: What is the publication date of this book? A: 'When Money Dies' was published on October 12, 2010.
- Q: What is the page count of this book? A: The book contains 288 pages.
- Q: Is this book a new or used edition? A: This listing is for a new edition of the book.
- Q: What is the binding type of 'When Money Dies'? A: The book is available in a paperback binding.
- Q: What is the category of this book? A: 'When Money Dies' falls under the category of Economic History.
- Q: What are the key themes discussed in the book? A: The key themes include deficit spending, the consequences of devaluation, and the impact of hyperinflation on society and economy.
- Q: How does 'When Money Dies' relate to modern economic issues? A: The book draws parallels between historical hyperinflation and contemporary monetary policies, such as quantitative easing, raising questions about the sustainability of current economic practices.
- Q: Is there any specific historical event highlighted in the book? A: Yes, the book highlights the hyperinflation crisis in Germany during 1923, when the exchange rate reached an astonishing one dollar to 4.2 trillion marks.