Adam Fergusson. · Rating details · ratings · 84 reviews. When Money Dies is the classic history of what happens when a nation’s currency depreciates . Buy When Money Dies: The Nightmare of the Weimar Hyper-inflation by Adam Fergusson (ISBN: ) from Amazon’s Book Store. Everyday low. When Money Dies 06/01/Adam Fergusson mass quantities of money coinciding with a shortage of money, mania and hysteria coinciding with mass.
|Published (Last):||4 August 2005|
|PDF File Size:||12.20 Mb|
|ePub File Size:||14.58 Mb|
|Price:||Free* [*Free Regsitration Required]|
Adam Fergusson: When quantitative easing runs mad
His view is that most of the political and financial leaders truly didn’t understand the relationship between the hyperactive printing press and inflation. The printing was an attempt to get ahead of this problem and ensure adequate circulating currency.
Also there’s an interesting cameo by Hemingway, making a day trip with his first wife from France to Germany and how amazingly cheap their day of merry-making was. This is a world in which we are all forever descending into our cellars, with a shotgun and a mountain of tinned food for company.
Lunch with the FT: Adam Fergusson | Financial Times
Sure wish I had that money so I could pay for some dental work. The take-off point therefore was not a financial but a moral one That would be ,, One quick answer fedgusson be the advent of quantitative easingthat weaselly modern euphemism for printing money, coined perhaps because most money is no longer printed.
Only a short time ago Ben Bernanke of the US Fed was able to order trillions of dollars of new money at the touch of a button. I didn’t realize that Germany largely funded WWI through debt fergusso the printing of money, rather than through taxation. This book did not meet my expectations.
Finally, i have made an observation of late that most historical works tend to view the reperations issue as exclusively one sides and somewhat stupid, no doubt puttimg the blame for fervusson on their shoulders to an extent. It was first published injust four years after the Nixon administration had severed the last tie between gold and the U.
While Fergusson can be quite cutting at times, unfortunately there is a tendency in this book to focus on long strings of numbers and dry explanations. It is just unfortunate that a Fergusson is an eloquent writer, and chose a fascinating topic–one I knew virtually nothing about. Also, the British diplomats of the time were quick with a witty jab a Just arriving ataka “the year of the wheelbarrow. This book should be required reading for every mandarin and flunkie in Westminster and ,oney the world.
Its inexcusable injustices drive men toward desperate remedies. Did not find answers in this book.
Although the book is only pages, it manages a thought-provoking discussion of the adak of hyperinflation, not just for Germany. Over the past five years it has been published in 11 languages, including Russian, Korean, Portuguese and classical and modern Chinese, and has just been reissued in the UK. The First World War had left Germany on its financial knees, though its industrial base remained strong.
Fergusson certainly touches on these things but his w This book did not meet my expectations. If you’re looking for a refutation of Hazlitt’s points, you won’t find it in When Money Dies.
Nov 26, Andrei rated it it was ok. But does that mean we’re headed for actual hyper inflation?
When Money Dies: The Nightmare Of The Weimar Hyper Inflation
This allowed German business to grow, but the domestic economy started to spiral out of control. They witness mob violence and exchange their pianos for potatoes. This perhaps explains why Fergusson turns out to be wben fiscal hawk. The waiter takes our order. Loading comments… Trouble loading? Moey I was halfway through, I didn’t know about the recent resurgence of interest in the book.
I had vaguely assumed the inflation was a conscious tactic to evade payment of war reparations. We now understand inflation to be about both the volume of currency and the rate of circulation.
It was among the casualties of both world wars and the German currency was not the only victim. Britain and America were also swept up in the inflationary surge of the Great War.
So why should this historic study have had such a remarkable moneg efflorescence now, at a time of historically low inflation? This book, originally published inseeks to calmly explain how such an extreme, bizarre situation eventuated.