Weimar Hyperinflation
About Weimar Hyperinflation
In 1923, Germany experienced devastating hyperinflation. The mark fell from 4.2 per dollar in 1914 to 4.2 trillion per dollar in November 1923. Prices doubled every 3.7 days. Workers were paid twice daily and rushed to spend before prices rose. Savings, pensions, and bonds became worthless. The middle class was destroyed. The hyperinflation was caused by reparations payments from World War I, French occupation of the Ruhr, and money printing. A new currency, the Rentenmark, ended the crisis in November 1923. The trauma of hyperinflation shaped German economic policy for generations, creating a deep fear of inflation that persists today.
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