Re:Schacht, Mefo Bills and the Restoration of the German Eco...
by lkrubner on Sunday March 24, 2019 @02:13PM
(#19477780)
"a country that has recently been through hyperinflation"
I think you mean deflation. The hyperinflation was in 1923, but the period of 1929 to 1933 was one of shocking deflation, one without precedent in an industrialized country. Germany was left with 60% unemployment, which in a sense made a remarkable bounce back easier -- all of the factories were still there, and all of the workers still existed, they simply needed some money to be pumped through the system so the workers could go back to work at the factories.
I think you mean deflation. The hyperinflation was in 1923, but the period of 1929 to 1933 was one of shocking deflation, one without precedent in an industrialized country. Germany was left with 60% unemployment, which in a sense made a remarkable bounce back easier -- all of the factories were still there, and all of the workers still existed, they simply needed some money to be pumped through the system so the workers could go back to work at the factories.