"What [the historic inflation] meant was, over the previous 70 years as German families (very frugal) had accumulated savings, those savings were not worth a quarter pound of butter. And that all happened in a few months. The decimation of that. It was in the autumn of [1923] at the apogee of that inflation that a right wing military leader named Adolf Hitler tried to march on the city center in Munich, Bavaria in what became to be known as the Beer Hall Putsch. He had planned to take over the city of Munich in the South of Germany and march and take over the whole society, he and a kind of rough and ready bunch of mostly young, white, men. If it sounds familiar, that's the point." - Richard Wolff
This is a clip from Economic Update: History's Lessons On Capitalism's Failures: Germany & U.S.
[Season 11, Episode 5]
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Learn more about Prof Wolff's NEW BOOK, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself," that came out mid-September 2020, on our books page:
www.democracyatwork.info/books
"Indeed, his book is so thorough, so comprehensive in its insightful analysis, that it is a practically a one-stop center for anyone who wants to understand why the year 2020 has been such a dumpster fire." - SALON
Check out Prof. Wolff's other books "Understanding Socialism" and "Understanding Marxism"
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