I joined Jeff Deist on the Human Action Podcast today to discuss Adam Fergusson’s seminal history of Weimar-era hyperinflation in Germany, When Money Dies. Americans accustomed to the dollar’s king status have no idea how quickly and brutally a currency can lose value. A big part of the problem is that while it’s always technically possible for the central bank to simply stop monetizing debt and government spending, political calculations means policymakers keep deciding it’s never really a good time to do so. And then things get out of hand. (By the way, Jeff will tell you how to get a free copy of When Money Dies throughout this episode.)

The Best of Ryan McMaken