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Focusing on the German hyperinflation of 1923, the book challenges the prevailing view that inflationary policies were beneficial to post-World War I Germany. Niall Ferguson highlights the detrimental effects of hyperinflation on the economy, arguing it weakened bourgeois society and undermined the Weimar welfare state without alleviating reparations. He explores the long-standing political and economic flaws that prevented alternative stabilization policies, linking these issues to the eventual rise of the Third Reich and the failures of the Weimar Republic.
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Paper and Iron, Niall Ferguson
- Language
- Released
- 2007
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- (Hardcover)
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- Title
- Paper and Iron
- Subtitle
- Hamburg Business and German Politics in the Era of Inflation, 1897 1927
- Language
- English
- Authors
- Niall Ferguson
- Publisher
- Cambridge University Press
- Released
- 2007
- Format
- Hardcover
- Pages
- 556
- ISBN13
- 9780521470162
- Category
- Business and Economics
- Description
- Focusing on the German hyperinflation of 1923, the book challenges the prevailing view that inflationary policies were beneficial to post-World War I Germany. Niall Ferguson highlights the detrimental effects of hyperinflation on the economy, arguing it weakened bourgeois society and undermined the Weimar welfare state without alleviating reparations. He explores the long-standing political and economic flaws that prevented alternative stabilization policies, linking these issues to the eventual rise of the Third Reich and the failures of the Weimar Republic.