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- W3140941714 abstract "I have always wondered about the standard explanation of Germany’s (West Germany 1949–90) comparatively low rates of inflation since the Second World War, which is based on the bitter remembrances of the economic and social costs of the hyperinflation of 1922–3, when prices rose 10,200,000,000 times in 15 months (322 per cent per month), and paved the way for the rise of Hitler in 1933. After all, the Great Depression of 1929–33 was especially severe in Germany, where prices fell by a quarter, and a third of the workforce became unemployed. Nearly all countries experienced substantial inflation during and after the First World War, several suffering hyperinflations, but a repeat of the unemployment of the Great Depression has been at the top of most policy-makers’ lists of historical catastrophes to be avoided. Hitler’s rise was doubtless made possible by the Great Depression, which followed a prosperous 1924–9, sometimes called Weimar’s ‘golden age’ (albeit assisted by American loans)." @default.
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- W3140941714 date "2021-02-01" @default.
- W3140941714 modified "2023-09-23" @default.
- W3140941714 title "Central Bank Independence and the Legacy of the German Past, by Simon Mee" @default.
- W3140941714 doi "https://doi.org/10.1093/ehr/ceaa333" @default.
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