Postwar Monetary Reform in Severely Damaged Economies. Its Role in Recovery from Nuclear Attack

摘要

Two highly successful reforms conducted in Belgium in 1944 and Germany in 1948-49 are examined, and the unsuccessful program conducted in Hungary in 1945-46 is presented as an example of the fiscal and monetary disaster that can attend unrealistic planning and administration of monetary reform. The German experience is considered in detail, since the condition of the Western Zones of military occupation in 1945-48 bear a resemblance to conditions of physical destruction and social disruption which might be expected to follow a nuclear exchange. (Author)