My study of how the German economy became unhinged by hyperinflation in the 1920s, When Money Dies, has found a new audience in the wake of the financial crisis
When Money Dies was first published 40 years ago, when inflation was running at up to 20% in the UK. An examination of the social effects of hyperinflation on the German people, it was written the better to understand the popular anxieties and behaviour that this phenomenon was then causing.
The book had a very favourable reception at the time, but the publisher of that small edition, Peter Kimber, died before any paperback could follow, although it appeared in both Italian and Spanish. So why should this historic study have had such a remarkable new efflorescence now, at a time of historically low inflation? Over the past five years it has been published in 11 languages, including Russian, Korean, Portuguese and classical and modern Chinese, and has just been reissued in the UK.
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