They are also obsessed with the danger of inflation. One poll found that Germans fear inflation more than they fear getting cancer. The shadow of history again: in this case, the trauma of two dramatic inflations, after the first and after the second world war. Yet as the economic policy correspondent of the liberal weekly Die Zeit argues in a spirited polemic, they misunderstand both the past—it was deflation, not inflation, that immediately preceded Hitler’s rise to power—and the present reality of that danger.
Der Aufsatz ist sehr lesenswert.