Germany 1923: Hyperinflation, Hitler's Putsch, and Democracy in Crisis

by Volker Ullrich Narrated by Christopher Douyard

Overview

From a New York Times bestselling historian comes a gripping account of the crisis that threatened to unravel the Weimar Republic.



The great Austrian writer Stefan Zweig confided in his autobiography: “I have a pretty thorough knowledge of history, but never, to my recollection, has it produced such madness in such gigantic proportions.” He was referring to Germany in 1923, a “year of lunacy,” defined by hyperinflation, violence, a political system on the verge of collapse, the rise of Adolf Hitler and the Nazi Party, and separatist movements threatening to rip apart the German nation. Most observers found it miraculous that the Weimar Republic-the first German democracy-was able to survive, though some of the more astute realized that the feral undercurrents unleashed that year could lead to much worse. Now, a century later, bestselling author Volker Ullrich draws on letters, memoirs, newspaper articles, and other sources to present a riveting chronicle of one of the most difficult years any modern democracy has ever faced-one with haunting parallels to our own political moment.

Editorial Reviews

From the Publisher

"Ullrich shows that the psychological and political effects of hyperinflation were profound. Reality seemed to be breaking down . . . . Conservatives believed that they could invite Hitler into their governing coalition and benefit accordingly. Such opportunism was breathtakingly cynical—and horrifically naïve. As Ullrich puts it at the end of his book, ‘The notion that they could harness the Nazi leader for their own reactionary interests and control the dynamic of his movement would be revealed as a tragic illusion.’"— Jennifer Szalai New York Times

"What readers will find is a warning from the past with lessons still apposite today: crisis breeds crisis; democracy is hard work; scapegoating needs to be addressed early; norms, once broken, are hard to repair; the socio-economic effects of inflation can be deadly."— Charles Emerson Financial Times

"An exemplary book of history with no lack of uncomfortable lessons for today."— Kirkus Reviews

"Comprehensive . . . this captivating account sheds much light on a complex and consequential era. WWII history buffs should take note."— Publishers Weekly

"An exemplary, sober book about an intoxicating time: Volker Ullrich brings order to the historical chaos of a year that fascinates as well as frightens—and is closer to us than we might like it to be. Formidable."— Norman Ohler, New York Times best-selling author of Blitzed: Drugs in the Third Reich

"Well researched and clearly written, recounting the putsch and the events leading up to it with authority and verve."— Richard J. Evans, Nation Nation

Kirkus Reviews

★ 2023-06-08
A fine history of a pivotal year in world history.

“The year 1923 started with a bang,” writes Ullrich, a prizewinning German historian and author of a widely acclaimed two-volume biography of Hitler, when French troops marched into the industrial Ruhr Valley. The author reminds readers that, after months of violence following its November 1918 surrender, Germany settled down under the democratic Weimar Republic. Poorer than in prewar years but physically undamaged (unlike France), it was obligated under the Treaty of Versailles to deliver enormous reparations in gold, industrial products, and resources such as coal and timber. To rebuild and to repay its war debt to the U.S., France demanded payment from Germany and sent in the army when it was slow arriving. This produced national outrage but little action besides passive resistance and strikes. Troops remained until 1925, and the occupation proved a crushing drain, with Germany losing production as well as revenue. Printing money was a poor substitute for taxes, so hyperinflation followed. By mid-April, the mark had dropped to 25,000 to the dollar; by the end of July, to 1 million. By August, when a new administration began banking reforms, $1 was worth 3.7 million marks. “Calls for a strongman, a savior to lift Germany out of misery and desperation,” writes Ullrich, “had been constant since the collapse of the Wilhelmine German Empire in 1918,” and “they grew louder…in the initial, chaotic postwar years.” The author delivers a lively account of Hitler’s unsuccessful Beer Hall Putsch, emphasizing that it was only one of many efforts by right-wing circles to “bring down the Weimar political system and institute an authoritarian regime.” In addition, writes Ullrich, the fact that Weimar survived another decade is a good argument that it was not condemned to failure from its onset, although the events of 1923, especially the hyperinflation, poisoned the national spirit.

An exemplary book of history with no lack of uncomfortable lessons for today.

Product Details

BN ID:	2940159739414
Publisher:	HighBridge Company
Publication date:	10/10/2023
Edition description:	Unabridged

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