Inflation

Inflation is back. Billions spent by the state to deal with the coronavirus, energy policy transformation and the historical turning point or >Zeitenwende< are="" driving="" currency="" devaluation.="" after="" a="" long="" phase="" of="" price="" stability,="" is="" a="" similar="" danger="" looming="" as="" was="" the="" case="" 100="" years="" ago?="" inflation="" was="" and="" still="" is="" not="" just="" a="" practical="" financial="" topic,="" but="" also="" a="" highly="" emotional="" one.="" it="" leads="" to="" declining="" confidence="" in="" the="" state="" and="" its="" ability="" to="" maintain="" order="" -="" with="" all="" of="" its="" negative="" consequences.="" klaus-wilhelm="" hornberg="" vividly="" describes="" an="" exciting="" chapter="" in="" german="" history,="" from="" inflation="s" creeping="" emergence="" during="" the="" first="" world="" war="" to="" the="" hyperinflation="" of="" 1922/23.="" documents="" and="" accounts="" by="" contemporary="" witnesses="" illustrate="" the="" social="" consequences.="" there="" are="" parallels="" to="" the="" present="" day,="" but="" also="" clear="" differences.="" what="" lessons="" can="" be="" learned="" from="">