In 1919, the British economist John Maynard Keynes wrote the influential book The Economic Consequences of the
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In 1919, the British economist John Maynard Keynes wrote the influential book The Economic Consequences of the Peace, in which he argued that the reparations for World War I that Germany was being forced to pay to the United States, France, Italy, and the United Kingdom would have devastating consequences: “But who can say how much is endurable, or in what direction men will seek at last to escape from their misfortunes?” What is the connection between the war reparations that Germany was forced to pay and the later hyperinflation? Why might hyperinflation lead to political unrest?
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Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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