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Adam Tooze on our Financial Past and Future
Conversations with Tyler
The German Vote Isn't Real Democracy
Hitler's party gains a one and a half per cent of the vote in germany. The communists are doing badly, and the social democrats have a solid majority. And a centre left government is formed. So even if the united states has checked out, why don't german voters opt for something semi sane? Instead, you get a hyper inflation well past an optimal rate of seniorage extraction,. That just seems irrational by any standard. What we've got to explain is why that is broken aparta....
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