Rudolf Havenstein
Rudolf E. Havenstein | |
---|---|
Born | |
Died | 20 November 1923 | (aged 66)
Rudolf Emil Albert Havenstein (10 March 1857 – 20 November 1923) was a German lawyer and president of the Reichsbank (German central bank) during the hyperinflation of 1921–1923.[1]
Havenstein was born in
Havenstein played an important part in the hyperinflationary process in Germany since he subscribed to the widespread belief then present in Germany that the inflation was caused by the fall in the external value of the mark against foreign currencies and that the role of the Reichsbank was to print sufficient money to sustain the higher price levels. The more money that was printed the higher the price level became, so the Reichsbank then printed even more money and so on. In other words, rather than following the
Havenstein was involved in the introduction of
He died in Berlin and is buried in St. Anne's Cemetery in
See also
- Karl Helfferich
- Andreas Hermes
- Weimar Republic
- Hyperinflation
- Inflation in the Weimar Republic
References
- ^ Shapiro, page 214.
- ISBN 9781135033224.
- Adam Fergusson, When Money Dies: The Nightmare of Hyperinflation in Weimar Germany, Kimbler, 1975, republished 2010 by PublicAffairs, New York, ISBN 978-1-58648-994-6, Chapter 11 "Havenstein"
- ISBN 978-1-59420-182-0
- Bresciani-Turroni, The Economics of Inflation, pages 63, 156, 180, John Dickens Co Ltd, Northampton, 1931. The Economics of Inflation: A Study of Currency Depreciation in Post-War Germany
- Max Shapiro, The Penniless Billionaires, pages 213-214, New York Times Books, 1980, ISBN 0-8129-0923-2