{"product_id":"when-money-dies-the-nightmare-of-deficit-spending-devaluation-and-hyperinflation-in-weimar-germany-paperback","title":"When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eAdam Fergusson\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003e\u003cb\u003eThe classic history of the political and economic devastation wrought by runaway inflation in Weimar Germany--\"\u003c\/b\u003e\u003cb\u003ebrilliant\" (\u003ci\u003eGuardian\u003c\/i\u003e)\u003c\/b\u003e \u003cbr\u003e\u003cb\u003e \u003c\/b\u003e \u003cbr\u003e 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. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e 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 deficit-- \u003cbr\u003e necessity or profligacy, unwillingness to tax or blindness to expenditure--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. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003e\u003cb\u003eAdam Fergusson\u003c\/b\u003e is a British journalist and former member of European Parliament. He has written for \u003ci\u003eThe Times\u003c\/i\u003e, \u003ci\u003eThe Glasgow Herald\u003c\/i\u003e, and the \u003ci\u003eStatist\u003c\/i\u003e, and has written three novels and two nonfiction titles. He lives in London. \u003cbr\u003e\u003c\/p\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 288\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.9 x 8.2 x 5.4 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e October 12, 2010\u003c\/div\u003e\n            ","brand":"Books by splitShops","offers":[{"title":"Default Title","offer_id":53477018173747,"sku":"9781586489946","price":18.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0990\/0746\/3731\/files\/9nirPM-zFi9781586489946.webp?v=1781619609","url":"https:\/\/rbangel-store.myshopify.com\/products\/when-money-dies-the-nightmare-of-deficit-spending-devaluation-and-hyperinflation-in-weimar-germany-paperback","provider":"The Celestial Starlit Phoenix ","version":"1.0","type":"link"}