Today’s Berlingske has another of those articles (not published on the web) telling us that “Germans have a natural fear of inflation” due to the hyperinflation of the early 1920s.
This may be but isn’t it strange that the deflationary austerity policies of Heinrich Brüning which were an important element in the developments leading to the collapse of the Weimar Republic and democratic order are completely forgotten in the narrative?
(This isn’t an original thought of mine: Some economist – Krugman? deLong? – posted similar ideas some weeks ago)