Consequences of Hyperinflation Flashcards
1
Q
How were peasants affected?
A
Coped reasonably well, depended less on money as they were more self sufficient
2
Q
How were Mittelstand affected?
A
Were able to exploit the market to produce good business
3
Q
How were industrial workers affected?
A
Wages unable to keep up with decline of the currency but had fewer savings so lost proportionally less compared with the general population
4
Q
How were the retired affected?
A
Suffered badly because they depended on fixed pensions and savings
5
Q
How were Businessmen affected?
A
Did well as they could pay off mortgages on bought property and benefited if they made sales to foreign countries
6
Q
How were humans affected in general?
A
- increased crime rates
- decline in morality e.g. more prostitution
- increase in suicide rate
- more prejudice towards scapegoats e.g. Jewish
