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Out Now: Zeit des Geldes. A History of the German Inflation 1914-1923 by Prof. Dr. Sebastian Teupe

About the book: Why - in view of the numerous economic crises of the 20th century - is the hyperinflation of 1923 considered the German trauma par excellence? In this book, Sebastian Teupe tells the story of the devaluation of money that began in the German Empire in 1914 and reached its peak and end within a short period of time during the Weimar Republic in 1923. He describes the impact of inflation on life in the city and the countryside, reports on the winners and losers of inflation, as well as the time and thought horizons of the Germans, who at the time could barely buy the bare necessities for survival with a 100,000-mark bill. In an international perspective, he deciphers the tangle of causes and effects of inflation and points out the landmarks where other developments would have been possible. The great difference between experiencing inflation as an open future and remembering a closed chapter is - he argues - central to understanding inflation and its subsequent interpretation in Germany today.