Title: Paper & Iron : Hamburg Business and German Politics in the Era of Inflation, 1897-1927. First Edition in dustjacket.
Publisher:  Cambridge University Press, Cambridge, 1995, ISBN:0521470161
Seller ID: 109230
FERGUSON, Niall. Paper & Iron : Hamburg Business and German Politics in theEra of Inflation, 1897-1927. Cambridge: Cambridge University Press, (1995) . First Printing. Pp. (6),vii-xiv,1-539,(7). 8vo, black cloth with silver lettering to spine. The prominent British economic historian's first book. "Few economic events have had a more profoudn or enduring impact than the German hyperinflation of 1923, still remembered popularly as a root cause of Hitler's rise to power. Yet in recent years many historians have argued that inflationary policies were, on balance, advantageous to post-1918 Germany, both boosing growth and helping to reduce reparations. The scholarly consensus is that there was no viable alternative to inflation. In 'Paper and Iron' Niall Ferguson takes a different view. Focusing on the influential Hamburg business community, he exposes the flaws in the contemporary justifications for inflationary policies. The inflation, he argues, did severe damage to the German economy by eroding the foundations of bourgeois society anddiscrediting Weimar's welfare state. Above all, it did nothing whatever to reduce reparations." - from the dustjacket. A few instances of inked under lining and marginalia, else very good in dustjacket. 65.00