Thursday, February 5, 2015

The Great Depression in Germany…

…ended in Naziism, not in a New Deal. I wonder if this shapes their attitude towards economic policy. The Depression seems to have been erased from their cultural memory, replaced by the hyperinflation the German leaders imposed on the country. They have no cultural memory of the New Deal working, no WPA, no CCC.

Kraw?

2 comments:

reason said...

The hyperinflation wasn't imposed by German leaders, but was the result of a response to excessive reparation payments - hint, hint, hint.

The Raven said...

It was imposed as a response. Notice, that when it came down to it, the German leaders were perfectly willing to trash the savings of the population to preserve their wealth.