• Banking and Finance in Historical Perspective
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38. Jahrgang | Jahr 2012 | Heft 2

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Literaturbericht: Seite 193–207

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Rezensionen: Seite 159–192

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Aufsatz: Seite 105–118

Michael D. Bordo

Under what Circumstances can Inflation be a Solution to Excessive National Debt? Some Lessons from History

The strategy of monetizing national debt by purchasing newly issued government debt with central bank money as well as using inflation to reduce the real value of outstanding nominal debt is fraught with the peril of creating high inflation. This was the case in several famous episodes of hyperinflation in the interwar period. But there are some mehr...


Aufsatz: Seite 119–150

Frauke Schlütz

Karl Tenhagen – Vom Bankkaufmanngehilfe-Lehrling zum Genossenschaftsleiter und vom Genossenschaftsleiter zum Bankmanager

Karl Tenhagen – From Banker's Assistant Apprentice to Cooperative Bank Director and from Cooperative Bank Director to Bank Manager The group of persons who managed cooperative banks has not attracted a great deal of attention in the scholarly research into economic history. The reasons are the underestimation of their significance (far beyond the mehr...


Miszelle: Seite 151–158

Gerhard Müller

"…durch Tausendkünstler schnell vertausendfacht"? Goethe und die Geldpolitik in Deutschland um 1800

Goethe and the Monetary Policy in Germany around 1800 For the writer Johann Wolfgang von Goethe, the inflationary monetary policy counted as one of the main evils of the period around 1800. He experienced the consequences of the monetary policy in the Austrian lands during his summer stays in the spa at Carlsbad. When the collapse of Austrian paper money had mehr...