History 1401E Lecture Notes - Lecture 29: Benito Mussolini, National Socialist Program, Giacomo Matteotti
19 Aug 2016
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Inflation, caused primarily by borrowing to pay for the war and, in case of. The losers not only had to pay for the war a. i. 1. Everyone that had savings lost their savings a. i. 1. a. People that had actually property were fine and the people that had borrowed money to buy land did not have to pay as much back as they had borrowed a. i. 1. b. The losers were the ones that had fixed incomes, savings, pensions a. i. 1. b. i. This group could no longer afford to educate their children and went from being considered middle class to working class: other causes of inflation and economic difficulties b. i. Impoverishment by the war, disruption of pre-war existing economic life by the creation of new political units, disrupting existing patterns of trade b. i. 1. People had to spend their money as soon as they got paid due to the decreasing value of the currency b. i. 1. a.
