The Great Inflation

BBC Radio 4

This is the trillion dinar note from Serbia in 1993 that presenter Allan Little has framed on his study wall. A reminder of the ills of rampant inflation.

Exactly 100 years ago Germany was in the grip of the worst hyperinflation the world has ever seen. The Reichsmark lost 99.9% of its value and with it came the famous images of wheelbarrows full of cash to pay for a bus ticket or a loaf of bread.

Allan Little goes to Germany to investigate the causes and consequences of Hyperinflation – how has the collective memory of this traumatic experience shaped German fiscal, economic and social policy ever since?

Produced by Anna Horsbrugh-Porter
Broadcast: 20th March on BBC Radio 4