Germany had hyperinflation because they decided to print money, rather than produce goods to sell. Inflation had ended long before Hitler came to power due to Gustav Stresemann introducing a new currency, stopping inflation, and producing products to export.
"Capitalism" wasnt the cause of the great depression, not even close. One can read Hoovers memories and see that he wasnt conservative at all(he was a student of the Efficiency Movement after all) And even boasted of spendng more money on extra public works in his 4 years than was spent in the previous 30. Nor did the war time spending bring any economy out of the depression. Look at the shortages that accruied. People had to plant "victory gardens" in order to eat
@NicosMind The fallacy is looking at the stock market and assuming that reflected the true economy. One could use the same fallacy and look at the Zimbabwe stock market and assume a nation of unmatched growth as it increased 4000% per week and even day sometimes
My Keynes Hayek: The Clash That Defined Modern Economics is published in October by W.W.Norton. Read an extract at: sites.google.com/site/wapshottkeyneshayek/
It's a shame the younger generations are'nt watching videos of this topic, on a bigger scale. The worlds economies is the most important thing.
philyB08 1 week ago
Germany had hyperinflation because they decided to print money, rather than produce goods to sell. Inflation had ended long before Hitler came to power due to Gustav Stresemann introducing a new currency, stopping inflation, and producing products to export.
uanime1 1 month ago
"Capitalism" wasnt the cause of the great depression, not even close. One can read Hoovers memories and see that he wasnt conservative at all(he was a student of the Efficiency Movement after all) And even boasted of spendng more money on extra public works in his 4 years than was spent in the previous 30. Nor did the war time spending bring any economy out of the depression. Look at the shortages that accruied. People had to plant "victory gardens" in order to eat
NicosMind 3 months ago
@NicosMind The fallacy is looking at the stock market and assuming that reflected the true economy. One could use the same fallacy and look at the Zimbabwe stock market and assume a nation of unmatched growth as it increased 4000% per week and even day sometimes
NicosMind 3 months ago
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NicosMind 3 months ago
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My Keynes Hayek: The Clash That Defined Modern Economics is published in October by W.W.Norton. Read an extract at: sites.google.com/site/wapshottkeyneshayek/
Nicholas Wapshott
nhwapshott 8 months ago