The Great Inflation

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Title: The Great Inflation

Essay Details:

Subject: Miscellaneous

Author: Ronald B

Date: November 1, 2012

Level: University

Grade: A

Length: 8 / 2397

Essay text:

A government-funded strike began as thousands of workers marched out of their factories and steel works. The German economy, already under massive pressure, gave way. The huge cost of funding the strike in the Ruhr and the costs of imports to meet basic consumer needs were met by the familiar expedient of the printing presses. Note circulation increased rapidly, and by November 1923 had reached almost 92 trillion marks. With less than three per cent of government expenditure being met from income and with the cost of one dollar at four billion marks, Germany was in the throes of economic and social chaos...

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