Summary 2 - Effects of hyperinflation Flashcards
1
Q
Give three examples of people who benefitted from the hyperinflation crisis?
A
- Black marketeers
- People with debts, they were able to pay off their loans/ mortgages with inflated, worthless money.
- Entrepreneurs - many took out loans to start a business and then easily paid it off with worthless money later.
- Owners of foreign exchange (which kept its value.)
2
Q
Give three examples of people who were negatively impacted by hyperinflation?
A
- Pensioners, many pensioners were living on a fixed income therefore they were able to afford less.
- Workers - real wages decreased as a result of hyperinflation.
- The middle class - their savings became worthless.
2
Q
By the end of 1923, what percentage of the workforce in the Ruhr were employed?
A
Just 30%
2
Q
Which group of people struggled most to forgive the Weimar Republic for hyperinflation?
A
The middle class