What Hyperinflation Looks Like
by Washington’s Blog
May 5, 2011
As I’ve previously noted, hyperinflationists are too focused on Weimar Germany:
You’ve heard how bad things were in the Weimar Republic, when people would rush straight to stores to buy food after receiving a pay check because their money would buy much less the next day.
But it turns out that Germany’s hyperinflation in 1923 was nothing compared to that experienced by Hungary, Zimbabwe and Yugoslavia.
In a new paper published by the Cato Institute, economics professor Steve Hanke lists the all-time worst episodes of hyperinflation: