The German Inflation 1914-1923

This our weekly discussion of the price level as it relates to Perry Mehrling's money view. The price level is the average price of goods in terms of money or, equivalently, the price of money in terms of goods. But what determines the price level? Why is the price level important? And how does it fit into the money view?

To continue our exploration of the Post-World War I German inflation that we started last week with the Kindleberger reading, we are reading Chapters 3-6 of Carl-Ludwig Holtfrerich's 1986 book The German Inflation 1913-1924

Questions that were raised in our previous discussion:

1. What was the state of Germany's banking system after World War I?
2. What did Germany need to do to transition from a war economy to a civilian economy?
3. How could Germany have achieved the best outcome possible post-WWI?
4. Which happened first: price rises or money supply increases? Why does it matter?
5. Why did the Rentenmark succeed in ending the hyperinflation?

Our weekly standing Zoom meeting time is 9 am Eastern Time (America/New York) every Saturday.

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