“One of these tragic episodes that is worth recalling and learning from was the disintegration of the Austro-Hungarian Empire and the accompanying Great Austrian Inflation in the immediate postwar period in the early 1920s. For those who say that such things as a hyperinflation, economic chaos, capital consumption and political tyranny ‘can’t happen here,’ it is worth remembering that a hundred years ago, in 1914, few in prewar Vienna could have imagined that it would happen there.”
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