Description

The currency depreciation of the German mark of 1914-23, which is the subject of this work, is one of the outstanding episodes in the history of the twentieth century. Economics of Inflation: A Study of Currency Depreciation in Post-War Germany as a study of hyperinflation has never been surpassed. The same is true of the detailed examination of the rise of hyperinflation in German in the interwar period: there is not anything more authoritative. It is a huge study, 466 pages, with a fantastic amount of data and statistical analytics. But the narrative too is very exciting and infused with a thorough understanding of the impact of dramatic monetary expansion. It affects not only prices but also capital structures, political events, and the structure of society itself. Hitler did not emerge in a vacuum. Bresciani-Turroni covers the essential prehistory of a world-wide calamity. This volume is thorough, authoritative, and riveting in every respect - the achievement of a lifetime to last the ages...