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Economics

The Origins and Consequences of Hyperinflation

Quick fact

In 1923 Germany, a loaf of bread cost about 200,000,000,000 marks—in just a few years, prices doubled every few days, and workers were paid twice a day so they could rush to spend their wages before they lost value.

Why this is interesting

During the Weimar Republic, people burned cash for warmth because it was cheaper than firewood. How could paper money become worth less than wood?