A dry read but it blows up certain stereotypes that people have about this subject. For example
: Net capital inflows to Germany during the 1920s exceeded by several times German reparations payments under the Dawes Plan.
: The German downturn began independently of the withdrawal of Americans loans during the stock market bubble of 1928-29. It's not clear however, the book says American loan volume peaked in mid 1928, but interest rates did not start rising until mid 1929; however it also claims the German downturn began before American loans dried up.
: Europe actually grew slightly faster than America in 1920-39.
: Right wing newspapers supported devaluation from gold in France in the mid 1930s, while the socialists and communists were against it.