Tracing the links between the monetary phenomena of the post-World War I German inflation and its political roots, this study provides a non-technical explanation of the economics of inflation and explores the political events and institutions that contributed to the Weimar Republic's economic difficulties. Webb discusses such topics as Reichsbank credit and monetary policy; output and unemployment; government revenue and spending; capitalism, democracy, and reparations; and the political economy of Reichsbank policy.
This book presents a comprehensive study of the most famous and spectacular instance of inflation in modern industrial society--that in Germany during and following World War I. A broad, probing narrative, this book studies inflation as a strategy of social pacification and economic reconstruction and as a mechanism for escaping domestic and international indebtedness. The Great Disorder is a study of German society under the tension of inflation and hyperinflation, and it explores the ways in which Germany's hyperinflation and stabilization were linked to the Great Depression and the rise of National Socialism. This wide-ranging study sets German inflation within the broader issues of maintaining economic stability, social peace, and democracy and thus contributes to the general history of the twentieth century and has important implications for existing and emerging market economies facing the temptation or reality of inflation.
Historians of the stabilization phase of Weimar Germany tend to identify German recovery after the First World War with the struggle to revise reparations and control hyperinflation. Focusing primarily on economic aspects is not sufficient, however, the author argues; the financial burden of recovery was only one of several major causes of reaction against the republic. Drawing on material from major German cities, he is able to trace the emergence of strong local activism and of comprehensive and functional policies of recovery on the municipal level which enjoyed broad political backing. Ironically, these same programs that created consensus also contained the potential for destabilization: they unleashed intense debate over the needs of the consumersand the purpose and extent of public spending, and with that of government intervention more generally, which accelerated the fragmentation of bourgeois politics, leading to the final destruction of the Weimar Republic.
"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
Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
This book examines the array of financial crises, slumps, depressions and recessions that happened around the globe during the twentieth and early twenty-first centuries. It covers events including World War I, hyperinflation and market crashes in the 1920s, the Great Depression of the 1930s, stagflation of the 1970s, the Latin American debt crises of the 1980s, the post-socialist transitions in Central Eastern Europe and Russia in the 1990s, and the great financial crisis of 2008-09. In addition to providing wide geographic and historical coverage of episodes of crisis in North America, Europe, Latin America and Asia, the book clarifies basic concepts in the area of recession economics, analysis of high inflation, debt crises, political cycles and international political economy. An understanding of these concepts is needed to comprehend big recessions and slumps that often lead to both political change and the reassessment of prevailing economic paradigms.
“Riveting…An elegantly composed study, important and even timely” (Kirkus Reviews, starred review) history of the Third Reich—how Adolf Hitler and a core group of Nazis rose from obscurity to power and plunged the world into World War II. In “the new definitive volume on the subject” (Houston Press), Thomas Childers shows how the young Hitler became passionately political and anti-Semitic as he lived on the margins of society. Fueled by outrage at the punitive terms imposed on Germany by the Versailles Treaty, he found his voice and drew a loyal following. As his views developed, Hitler attracted like-minded colleagues who formed the nucleus of the nascent Nazi party. Between 1924 and 1929, Hitler and his party languished in obscurity on the radical fringes of German politics, but the onset of the Great Depression gave them the opportunity to move into the mainstream. Hitler blamed Germany’s misery on the victorious allies, the Marxists, the Jews, and big business—and the political parties that represented them. By 1932 the Nazis had become the largest political party in Germany, and within six months they transformed a dysfunctional democracy into a totalitarian state and began the inexorable march to World War II and the Holocaust. It is these fraught times that Childers brings to life: the Nazis’ unlikely rise and how they consolidated their power once they achieved it. Based in part on German documents seldom used by previous historians, The Third Reich is a “powerful…reminder of what happens when power goes unchecked” (San Francisco Book Review). This is the most comprehensive and readable one-volume history of Nazi Germany since the classic The Rise and Fall of the Third Reich.
The Weimar Republic was a turbulent and pivotal period of German and European history and a laboratory of modernity. The Oxford Handbook of the Weimar Republic provides an unsurpassed panorama of German history from 1918 to 1933, offering an indispensable guide for anyone interested in the fascinating history of the Weimar Republic.
