Weimar Europe?

by Harold James Harold James is Professor of History and International Affairs at Princeton University and Professor of History at the European University Institute, Florence. He is the author of The Creation and Destruction of Value: The Globalization Cycle. 25.02.2012

Introduction

The second criticism, repeatedly voiced by the Nobel laureate economist Paul Krugman, is that the supposed German history lesson is chronologically false. It was not the famous hyperinflation of the early 1920’s that destroyed Germany’s fragile Weimar Republic and gave rise to the Nazi dictatorship. Rather, democracy was killed a decade later by depression and deflation.
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