1
$\begingroup$

I am interested in inflation, specifically hyperinflation. Can anybody point me to research (papers, books) done on the individual origins and mechanisms at work at the very beginning of hyperinflation -i.e. what drove specific persons to raise the price of their specific goods or services, who went first, what were the informational channels on which individuals received their news of prices going up, etc.

Every hyperinflation-event would play out different, of course, but i'd like to read up on at least one (ideally recent (1900 onwards) one) on an individual level.

This might veer into the territory of historians, but possibly there is also some economics literature out there that covers this?

$\endgroup$
15
  • 2
    $\begingroup$ This needs some details and clarity what exactly you mean here by individual? This question seems to be predicated on fallacy of composition. Inflation is macroeconomic phenomenon, no individual is directly responsible for it or causes it (policy makers aside), it would be like saying that some specific individual is responsible for climate change, you can drive the worse gas-guzzler if you are the only one doing it you have no effect on global climate, it requires millions of people doing it to have an impact. Likewise, inflation is not caused by individuals but by aggregate price changes. $\endgroup$
    – 1muflon1
    Jul 22 at 14:35
  • 1
    $\begingroup$ Also, hyperinflation is not a modern phenomenon. Ancient Rome had hyperinflation at some point, coming from seignorage (gradually reducing the valuable silver content of the coins from close to 100% to virtually zero). $\endgroup$
    – BrsG
    Jul 22 at 14:41
  • 2
    $\begingroup$ @1muflon1 with 'individual' i mean 'person' -i.e. is there research into when and on what grounds e.g. Jeb Smith decided to rise the price of the apple he sold during the hyperinflation of 19xx. Economics is a macro phenomenon, but mechanics is likewise. nevertheless, some people delve into molecular interactions to explain macro-phenomena like, crack propagation. $\endgroup$
    – loonquawl
    Jul 22 at 14:53
  • 1
    $\begingroup$ @BrsG the economic system of antiquity is so extremely far removed from the current state that it's not of interest for me in this regard. Also, sources for the kind of personalized activity i am looking for are certainly too scarce. $\endgroup$
    – loonquawl
    Jul 22 at 14:55
  • 2
    $\begingroup$ Don't know how you could know about an individual's state of mind other than an interview. "what drove specific persons to raise the price of their specific goods or services [...] what were the informational channels on which individuals received their news of prices going up" $\endgroup$
    – Giskard
    Jul 22 at 16:07