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Paper and Iron: Hamburg Business and German Politics in the Era of Inflation, 1897-1927

Niall Ferguson

Few economic events have had the impact of German hyperinflation in 1923, still remembered as a root cause of Hitler's rise to power; yet in recent years historians have defended the inflationary policies adopted after 1918.

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Book Information

Publisher: Cambridge University Press
Publish Date: 03/26/2007
Pages: 556
ISBN-13: 9780521470162
ISBN-10: 0521470161
Language: English

Full Description

Few economic events have had the impact of German hyperinflation in 1923, still remembered as a root cause of Hitler's rise to power; yet in recent years historians have defended the inflationary policies adopted after 1918. Niall Ferguson takes a different view. He argues that inflation was an economic and political disaster, and that alternative economic policies could have stabilized the German currency in 1920. To explain why these were not adopted, he points to long-term defects in the political institutions of the Reich from the 1890s. The book therefore not only reveals the Wilhelmine origins of Weimar's failure: it also casts new light on the origins of the Third Reich.

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