Money Theory: "Das Geld" by Karl Hellferich

Thursday, August 05, 2010

Having noticed great interest in the books recommended in my last 2 posts here is another noteworthy piece of money theory by German Karl Helfferich from the early 20th century. I can present the book "Das Geld" only in German.
Either click this link
Das Geld by Karl Helfferich
to buy the book or read/download it for free at the link below. Judge yourself as I have yet to thumb through.

Helfferich is not undisputed. From Wikipedia:
Karl Theodor Helfferich (22 July 1872 – 23 April 1924)...became a leader in the German government's policy of economic imperialism... and in 1908 he was made director of the powerful Deutsche Bank in Berlin.
Helfferich was a prominent politician of the German National People's Party (DNVP) and gave radical anti-republican speeches against politicians who supported reparations fulfilment. In June 1920 he was selected as spokesman in the Reichstag for the parliamentary committee of inquiry into policies during the war, which he defended.
During the 1923 hyperinflation, Helfferich developed a plan for a new rye currency, indexed to the price (in Marks) of rye and other agriculture products. His plan was rejected because of the extreme variability in the price of rye compared to other commodities, but many of his plan elements were incorporated in the successful RentenMark that began circulation on 15 November 1923. At the end of 1923, when Helfferich applied for the post of Reichbank president, he was rejected in favor of Hjalmar Schacht.
Das Geld by Karl Helfferich
Click here to read the book online
Use this link for aPDF download.
And finally, here a txt. version

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