Germans Barter for Goods in Response to Hyperinflation
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Government and Politics, Economics
- Subcategories: Business, Trade, Commerce, Depressions, Recessions
- Curriculum: 20th & 21st Century European History, German History
- Geographical Location: Germany
- Date: 1923
Article abstract: Inflation made the German mark virtually worthless, and Germans resorted to barter as a replacement for currency transactions.
Summary of Event
In 1923, inflation of the German mark, begun during World War I, reached such proportions that Germans resorted to barter for many of their economic transactions. Stores closed every day at noon so that clerks could change prices on products. Prices would often rise during the morning hours to double the price at opening time. Germans who were paid wages or salaries rushed to buy something with...
[The entire page is 2701 words long]
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