When Money Dies is the classic history of what happens when a nation’s currency depreciates beyond recovery. In 1923, with its currency effectively worthless (the exchange rate in December of that year was one dollar to 4,200,000,000,000 marks), the German republic was all but reduced to a barter economy. Expensive cigars, artworks, and jewels were routinely exchanged for staples such as bread; a cinema ticket could be bought for a lump of coal; and a bottle of paraffin for a silk shirt. People watched helplessly as their life savings disappeared and their loved ones starved. Germany’s finances descended into chaos, with severe social unrest in its wake.
Money may no longer be physically printed and distributed in the voluminous quantities of 1923. However, “quantitative easing,” that modern euphemism for surreptitious deficit financing in an electronic era, can no less become an assault on monetary discipline. Whatever the reason for a country’s deficit—necessity or profligacy, unwillingness to tax or blindness to expenditure—it is beguiling to suppose that if the day of reckoning is postponed economic recovery will come in time to prevent higher unemployment or deeper recession. What if it does not? Germany in 1923 provides a vivid, compelling, sobering moral tale.
"Sinopsis" puede pertenecer a otra edición de este libro.
Daily Express (London)
“Engrossing and sobering.”
Allen Mattich, Wall Street Journal, October 1, 2010
“One of the most blood chilling economics books I’ve ever read.”
Wall Street Journal, January 30, 2011
“Every body ought to read this book. But baby boomers must.”
"Sobre este título" puede pertenecer a otra edición de este libro.
Descripción HarperCollins Distribution Ser, 1975. Hardcover. Estado de conservación: New. Nº de ref. de la librería P110718302141
Descripción HarperCollins Distribution Services. Hardcover. Estado de conservación: New. 0718302141 New Condition. Nº de ref. de la librería NEW6.3146337