The History of Hyperinflation in Germany after WWI is Dangerously Wrong. Here's Why That Matters.

The hyperinflation in Germany is one of the best known such episodes in history. To give an indication of the level of inflation, a loaf of bread that cost 160 marks at the end of 1922 cost 200,000,000,000 (200 billion) marks a year later.Many economists, historians and news articles will seek to explain the dangers of hyperinflation by citing the German government, but the history is almost entirely wrong. The Nazis did not come to power until more than half a decade after the hyperinflation had come to an end. The explosion in money-printing in Germany in 1922 and 1923 was not by the government at all.https://www.bundesbank.de/en/press/contributions/the-economic-and-currency-reform-of-1948-the-basis-for-stable-money-915302Check out Mark Blyth's incredible book "Austerity - History of a Dangerous Idea". A must-read. https://www.mcnallyrobinson.com/9780199389445/mark-blyth/austerity?blnBKM=1 Get full access to Dougald Lamont’s Substack at dougaldlamont.substack.com/subscribe