The tag has no wiki summary.

learn more… | top users | synonyms

10
votes
2answers
1k views

Why did World War I victors let Germany pay reparations in German Marks and gave it the option to default via inflation?

Under the Treaty of Versailles, Germany was forced to make heavy war reparations to the victors of World War I. What puzzles me was that the reparations were denominated in Marks (German Currency at ...
5
votes
1answer
2k views

How did Germany rebuild so quickly after World War I?

After World War I, Germany suffered severe economic damage. Germany was asked to make horrendous war reparations, suffered hyperinflation, social chaos .... In addition, world economic conditions were ...
3
votes
3answers
99 views

How did an input of resources in 16th century Spain contribute to inflation?

My history book claims that the flow of Silver from the New World to Spain in the 16th century contributed to an inflation. However, that seems very unintuitive. How could gaining resources lead to a ...
4
votes
1answer
33 views

Quesnay, Adam Smith, and Pitt

I am now reading the book Decadent Societies by R.M. Adams and on pp.66-7 he writes: Quesnay's ideas, which fell on stony ground in France, showed their basic vitality when picked up by Adam ...
2
votes
5answers
317 views

Why did religion mixed with politics hold back progress of Europeans but not the Turks?

The Turks were technologically more advanced than the Europeans during the Middle Ages. One major reason behind the Europeans backwardness was that their freedom of thought was stifled by dogmatic ...
2
votes
1answer
78 views

Where did the profits for the founders of the Bank of England come from?

Royal assent was given for the formation of the Bank of England, in part, to help pay for the Nine Years' War (1688-97) with France in 1694. The founding of the Bank and, and in effect, the loan it ...
7
votes
1answer
149 views

Was Ashoka motivated more by economics rather than religion in giving up war?

Is there any evidence to support the idea that Ashoka's aversion to war might have been due to inflationary economics rather than religion or remorse? Such as say the degradation in the value of coins ...
4
votes
2answers
206 views

What factors led to the 30% devaluation of pound sterling in 1949?

In 1949, Britain devalued the pound sterling by 30%. This was a major world economic event given that the pound was and still is one of the major currencies in the world. In fact, 9 other countries ...
3
votes
2answers
142 views

Oldest appearance of “brand names” in history?

I was watching a documentary about the Ulfberht swords from Scandinavia, and one thing caught my attention: it mentioned that these swords were made over a range of time and location that was broad ...
4
votes
2answers
134 views

What were the factors that led to stagflation in the United States during the 1970s?

Economics teaches that faster economic growth leads to higher inflation and slower economic growth leads to lower inflation. In the 1970s, United States suffered high inflation and slow economic ...
2
votes
1answer
341 views

Why did the welfare state succeed in Bismarck Germany but lagged in 20th-century Britain?

Otto von Bismarck pioneered the welfare state in Germany and Bismarck was/is greatly respected by Germans. Pre-World War I British Liberal Party made welfare reforms after the 1906 general election. ...
4
votes
1answer
156 views

Were the heavy war reparations on Germany after World War I the main cause of its hyperinflation in 1923?

World War I victors imposed severe war reparations on Germany. When Germany defaulted, France invaded the Ruhr which was the most heavily industrialized area in Germany to force reparations ...
6
votes
3answers
457 views

Why did Soviet Union economy grow fast in the 1950's-1960's?

Communist economic systems self-implode. Communism today has been recognized that it is bad for economic progress. There is no dispute that Communism makes countries poor based on what has happened in ...
0
votes
0answers
49 views

Why has Africa always been poor and weak compared to the rest of the world throughout history? [duplicate]

Nations waxed and waned. At one time, the Europeans were weak and behind the Muslims, then caught up while the Muslims weakened. The same cycle applied to the Chinese. But the Africans have always ...
19
votes
3answers
1k views

When was Silver ever more valuable than Gold?

These days we pretty much take it as a given that gold is more valuable than silver. The obvious example is the Olympics and other such competitions that give "gold" medals for first place and ...
5
votes
1answer
110 views

Where can I find detailed accounts of cash-less payment in medevial and ancient times?

In his book "Debt: The first 5000 Years" David Graeber writes that during most of the middle ages and antiquity coins were seldom used in day-to-day dealings, at least of the more rural population. He ...
4
votes
1answer
73 views

Of which countries was Ludwig von Mises a citizen?

This is a question regarding the economist and political thinker Ludwig von Mises. A short biography: Mises was born in 1881 in Lviv, then part of Austria–Hungary. He studied and worked in Vienna ...
6
votes
6answers
263 views

Has scholarship shown that persecuted religious minorities have tended to be financially successful?

In this interview with Neal Stephenson, talking about the historical basis for his Baroque Cycle series of novels, he makes the remark that ... persecuted religious minorities, if they’re not ...
1
vote
0answers
108 views

Kazakhstan and anti-capitalism in the 1990s

What drove anti-capitalist sentiments from Kazakh intellectuals and economists in the 1990s following the collapse of the Soviet Union? It is my understanding that Kazakhstan was a low level ...
5
votes
1answer
143 views

When did the incident happen when bounty on rats led people to farm rats?

Sorry for the title but don't know how to phrase it exactly. I once read an article about a period (in France I think but I'm not sure) when the cities were growing and people strted to have issues ...
4
votes
1answer
668 views

How much did helping the American Revolution cost France?

I recall reading somewhere that the expenses of the war were ruinous for France and that the gains didn't offset them, this being one of the causes that forced Louis XVI to convene the Estates ...
6
votes
0answers
88 views

What was the societal wealth demographics when the major pyramids were built?

All this talk about wealth distribution (1% of US Citizens etc. etc.) got me wondering about the wealth distribution in other periods of history when - let's call them - great edifices were built. ...
13
votes
1answer
655 views

How did the monks whose job was to copy books react to Gutenberg's printing press?

It's typical to see people whose job it is to perform a manual task to - collectively - object when a new technology is introduced which makes their job obsolete (as the quintessential example, see ...
6
votes
2answers
151 views

How would one have gone about setting up a business during Communist Revolutionary China?

In 1966, Mao Zedong launched a movement towards Socialism, to, solidify his power after a disastrous Great Leap Forward, called the Cultural Revolution. Though the movement moved towards a total ...
5
votes
5answers
2k views

Why is the USA the world's strongest country? [closed]

The USA has been the world's strongest country for a long time now. Even after the rise of China as one of the dominant economies in the world, the USA is still the world's top economy. Does the USA ...
0
votes
1answer
77 views

Is there a different view by political-scientist in history that printing more bill is different from adding few more zeros in a bill [closed]

Is there a different view by political-scientist in history mention that printing more bill is different from adding few more zeros on the bill. I know some Africa country tend to doing that.
2
votes
1answer
116 views

Reception of Acemoglu-Robinson 'extractive institutions' thesis?

Daron Acemoglu and James Robinson believe that a great deal about the economic, social, and political life of a country can be explained by the quality of political institutions, especially the degree ...