Germany Is Making The Same Mistake That Allowed The Nazis To Come To Power

By 1931 the world was in depression. Germany would have been too, with or without its pathological fear of inflation. The Nazis would presumably have made the same electoral gains. But suppose Germany had inflated in 1931, like the U.K. did. The following chart compares the trajectory of the U.K. unemployment rate after it had left the gold standard with that of Germany, who stayed on.

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Categories: Economics, Europe, Germany, War

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