History: What was life like during the Great Inflation?

How did the inflation affect old people?

Old people living on fixed pensions, or people who lived on their savings, found that these were now worthless.

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How did the inflation affect workers?

Workers, as long as they had a job, were to some extent protected, because they were simply paid higher and higher wages. Even unemployment benefit increased weekly.

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How did the inflation affect the rich?

The rich, who had not just money but land, possessions and foreign currency, were also protected.

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How did the inflation affect rich businessmen?

Many rich businessmen were able to take advantage by taking over smaller companies which were going bankrupt. In the end, though, inflation was so rapid that normal business and trade because impossible, which caused much unemployment.

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How did the inflation affect those with debts and loans?

Those who had debts, or had taken out loans, actually benefited. They could pay the money back at a fraction of the real cost.

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Who were the real losers of the Great Inflation?

Not the poor who had little to lose, or the rich who found ways to protect their wealth. The real losers were the middle class who saw their savings and businesses destroyed.

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Other cards in this set

Card 2

Front

How did the inflation affect workers?

Back

Workers, as long as they had a job, were to some extent protected, because they were simply paid higher and higher wages. Even unemployment benefit increased weekly.

Card 3

Front

How did the inflation affect the rich?

Back

Card 4

Front

How did the inflation affect rich businessmen?

Back

Card 5

Front

How did the inflation affect those with debts and loans?

Back

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History: What was life like during the Great Inflation?