The Weimar Republican recovered from the Weimar hyperinflation

[Beet]

Why is Germany so obsessed with the Weimar hyperinflation, when the Weimar republic had its best years after 1923? Fast growth, low joblessness, free elections, centrist parties, the spirit of Locarno-- by far the best years of the Weimar republic, the only years of stability, after a rapid recovery from that incident. In contrast, Weimar did not fare so well after the Weimar unemployment-- a burdensome regime of austerity, default, unemployment, and deflation that began in 1929. Why is this latter collapse never looked to in the German historical consciousness?

[opebo]

It is a fascinating question, particularly since by now everyone from that time is long dead. After all it only lasted a few years, while what followed later with the war and aftermath was so much worse and fresher in the memory.

[Politico]

[Filuwaúrdjan]

I've never understood why so many people on the telly seem to be sure absolutely convinced that hyperinflation was the single most traumatic thing to happen to/in Germany in the 20th century.

[Lief 🗽]

That's a very good point Beet.

[Swing low, sweet chariot. Comin' for to carry me home.]

just a guess, but maybe because inflation, unlike unemployment, hits everyone...and inflation really makes everyone very angry...that's why the late 70's are thought of so miserably in the US

[2952-0-0]

just a guess, but maybe because inflation, unlike unemployment, hits everyone...and inflation really makes everyone very angry...that's why the late 70's are thought of so miserably in the US

Well, clearly it was unemployment, not hyperinflation, which drove Germans to give their votes to a charismatic extremist who promised easy solutions to all problems.

[opebo]

I've never understood why so many people on the telly seem to be sure absolutely convinced that hyperinflation was the single most traumatic thing to happen to/in Germany in the 20th century.

It suits the neoliberal/fascist agenda of the press to focus on the inflation thing rather than the fascism thing (after all viewers might notice we still live under fascism).

[Wonkish1]

First, the notion that the social fabric of the country wasn't severely strained in the early 20s compared to the early 30s is kind of a joke. Had the Weimar Republic printed again in the early 30s its extremely doubtful that a similar result wouldn't have happened.

Second, 1923 wasn't a "golden year" it was the very beginning of a recovery. A recovery that meant default on several reparations payments, dismantling of much of the government spending at the time, and the introduction of a whole new currency. The fact that the country wasn't willing to do first 2 of those several years prior and avoid several years of inflation driven pain for its citizenry is the lesson you should be taking for today.

Third, severe cutbacks in spending and even a default makes the pain come all at once and the recovery to start immediately. The printing in the Wiemar only delayed any recovery, made things progressively worse until they finally released it wasn't a solution and made a complete 180, and did severe damage to its economy by screwing over the populace to pay creditors with printed money.

Fourth, the United States didn't print as the result of the exact same recession(1918) and they came out of it with a strong recovery within a year.