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1、inflationIntheearly1920sinGermanyWorkersusuallygetpaidonceaweek,butinGermanyintheearly1920stheygotpaidtwiceaday.Besidesthat,theyhadanextrahalf-houreverymorningtogoshoppingforfood.Ifitsoundswonderful,let’sseewhatonenormaldayin1923wasreallylike.GoshoppingforfoodAt11:30A.M,workstopped
2、atthefactory,andKarlHoffmanlinedupwiththeotherworkers.Thebossgavehimtwohugebags.“Here’syourmorning’ssalary,”thebosssaid.“fiftymillionGermanymarksincash.”Karlloadedhissalaryintoawheelbarrowandraninthedirectionofabigproducestore.Inside,hestoodinalonglineofpeople,allwithhugebagsofmone
3、y”Howmucharetheonions? “Twenty–fivemillionmarksforone. Karlboughttwoonionsandgaveher thecontentsofhiswheelbarrow. Thenhereturnedtoworkfortheafternoon.WhenKarlarrivedhomeintheevening,hegavehiswifethetwoonions.“Iworkedallmorningtobuytwoonions,”hetoldher.“Ipassedtheproducestoreonmyway
4、home,andinjustafewhours,fooddoubledinprice.Onionsnowcost50millionmarkseach.Myafternoon’ssalaryisalmostworthless.Itwillbuyonlyoneonion.I’mgoingtoburnbillsforheat”hethrewthepapermoneyintothefire.ThisstorywastypicalformillionsofGermansintheearly1920s.Peopleburnedmoneyforheat.Theyworke
5、dfor3daystobuyapoundofbutter,and20weekstobuyasuit.Inthechartbelow,youcanseehowthevalueoftheGermanmarkdroppedinjust9years.In1914,about4marksequaledadollar.Nineyearslater,about4trillionmarksequaledadollar.July19144.2marks=$1January19198.9marks=$1July191914.0marks=$1January192064.8mar
6、ks=$1January1922191.8marks=$1July1922493.2marks=$1January192317,972.0marks=$1July1923353,412.0marks=$1August19234,620,455.0marks=$1September192398,860,000.0marks=$1October192325,260,208,000.0marks=$1Whattookplaceduringthose9yearsiscalledrunawayinflation.Pricesincreasedbymillionsofm
7、arksinafewhours.It’snormalforcountriestohavealittleinflation,butusuallyit’sveryslow.Pricesincreasebyafewcentseveryyear.Forexample,in1926,aU.S.postagestampcostjust2cents.Today,itcostsalmost40cents.Incontrasttothatexampleofnormalinflation,theGermangovernmentprintedthepostagestampagai
8、nandagainintheearly1920s.E
