"Contrary to popular opinion, excessively high deficit spending and exorbitant government debt levels are not the primary cause of a hyperinflation. In most cases they have been the result of other exogenous events such as ceding of monetary sovereignty, war, rampant corruption, regime change or collapse in output. It is these exogenous events that result in the public’s rejection of the currency, a collapse in the tax system and the government response of printing more money to fill in the revenue gap." https://papers.ssrn/sol3/papers.cfm?abstract_id=1799102
Posted on: Sun, 28 Jul 2013 11:45:17 +0000
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