The Downfall of Money: Germany's Hyperinflation And The Destruction Of The Middle Class

Category: Book
By (author): Taylor, Frederick
Subject:  BUSINESS & ECONOMICS / Finance / General
  BUSINESS & ECONOMICS / Money & Monetary Policy
  HISTORY / Europe / Germany
  HISTORY / Europe / Western
Publisher: Bloomsbury Press
Published: March 2015
Format: Book-paperback
Pages: 432
Size: 9.30in x 6.10in x 1.10in
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Additional Notes

From The Publisher*"Excellent . . . Mr. Taylor tells the history of the Weimar inflation as the life-and-death struggle of the first German democracy . . . This is a dramatic story, well told." --The Wall Street Journal.
     A hundred years ago, many theorists believed--just as they did at the beginning of our twenty-first century--that the world had reached a state of economic perfection, a never before seen human interdependence that would lead to universal growth and prosperity. Then, as now, the German mark was one of the most trusted currencies in the world. Yet the early years of the Weimar Republic in Germany witnessed the most calamitous meltdown of a developed economy in modern times. The Downfall of Money will tell anew the dramatic story of the hyperinflation that saw the mark--worth 4.2 to the dollar in 1914--plunge, until it traded at over 4 trillion to 1 by the autumn of 1923.
     The story of the Weimar Republic's financial crisis clearly resonates today, when the world is again anxious about what money is, what it means, and how we can judge if its value is true. It is a trajectory of events uncomfortably relevant in our own uncertain world.
     Frederick Taylor--one of the leading historians of Germany writing today--explores the causes of the crisis and what the collapse meant to ordinary people, and traces its connection to the dark decades that followed. Drawing on a wide range of sources and accessibly presenting vast amounts of research, The Downfall of Money is a timely and chilling exploration of a haunting episode in history.
Biographical NoteFREDERICK TAYLOR is the author of the acclaimed bestsellers Dresden and The Berlin Wall, both of which have appeared in many languages, and he also edited and translated The Goebbels Diaries: 1939–1941. He has lectured all over the world and appeared in several major television documentary series, including most recently the History Channel's The Rise and Fall of the Berlin Wall and PBS's The Wall: A World Divided. He is a fellow of the Royal Historical Society and lives in Cornwall, England.