The Great Inflation Essay

2410 words - 10 pages

La Grande Inflation Dans tardif-1922 le gouvernement Allemand a été forcé à demander les Alliés pour un moratoire sur les paiements de réparations; ceci a été refusé, et elle alors a pris par défaut sur les chargements de charbon et de bois à la France. Par le janvier de l'année suivante, de français et de troupes Belges avait entré et avait occupé le Ruhr. Les gens Allemands, peut-être pour la première fois puisque 1914, uni derrière leur gouvernement, et leur résistance passive aux troupes qui occupent a été commandée. Une grève ...view middle of the document...

Les prix sont élevés un trillion pli de leur pré-niveau de guerre. Plus d'une manière importante, pour l'avenir politique à long terme d'Allemagne, le milieu et les classes qui travaillent a vu que leurs économies ont éliminé. Ceux-ci étaient, dans l'essence, les gens qui étaient plus tard devenir le dur noyau du vote Nazi. Les Economistes disputeront ce hyperinflation en fuite a deux sources. Premièrement, il se lève par une chute dans la valeur d'échange étrangère d'une monnaie, quand une balance des paiements contraire réduit de la demande d'investisseurs étrangère pour la monnaie. Un cours en baisse augmente le coût d'importations et, donc, le coût de la vie. Les salaires s'élèvent comme les ouvriers essaient de maintenir leur niveau de vie, surtout si les arrangements institutionnels précédents ont relié des salaires à habiter de coûts. Les firmes qui paient plus hautes salaires élèvent le prix des articles qu'ils vendent, l'ascension de prix toujours plus, la valeur d'échange étrangère des chutes de monnaie toujours plus, et le cycle continue. Deuxièmement, il se lève par un grand déficit de budget que personne croit deviendra plus étroit à l'avenir. Fait face à avec la perspective de déficits de budget pour beaucoup d'années pour venir, les sources normales de crédit disponible au déclin de gouvernement pour faire de plus amples prêt; le gouvernement ne peut plus emprunte pour couvrir le déficit entre le revenu et la dépense. La seule alternative sera obligé à imprimer de plus en plus banknotes. Comme les ouvriers de gouvernement et les fournisseurs présentent leurs notes à la Trésorerie, il les paie d'avec les morceaux récemment imprimés de papier. Ceci met plus de banknotes dans les mains du public et ils les dépensent alors. En allemagne, comme nous avons vu, le problème était cela il y avait trillions de valeur de marques de monnaie de papier dans la circulation. Les prix pourraient s'élever un mille fois entre un ouvrier étant payé et son atteindre les ateliers. Une analogie commune utilisée est que si celui pourrait permettre une bouteille de vin aujourd'hui, celui doit garder la bouteille vide qui vaudrait plus demain que la bouteille pleine était aujourd'hui. Finalement, le pouvoir pour hausser dépenser de gouvernement en imprimant argent va. Quand le gouvernement ne peut plus l'augmentation, même dans l'à court terme, un équilibre budgétaire par l'inflation, la situation devient s'intense cette stabilisation par un conseil de monnaie, un nouveau ministre de finance ou un lien à la...

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