Great Hyperinflations in World History Term Paper

Great Hyperinflations in World History - Term Paper Example Center of discussion in this paper is hyperinflation as a rate of inflation per month that exceeds 50 percent. Episodes of hyperinflations are rare and they do not take â€Å"when money has been commodity-based or when paper money has been convertible into a commodity†. There have been 30 hyperinflations in history. The 30th hyperinflation was supposedly in 2008 in Zimbabwe. The first hyperinflation happened during the French revolution of 1789-96. For Hanke, the most well-known hyperinflation of the 20th century was â€Å"the great German hyperinflation of the 1920s, when the monthly inflation rate peaked approximately 30,000% in October 1923.† Meanwhile, Hanke reported that â€Å"the two most virulent hyperinflations recorded---Hungary (1945-46) and Yugoslavia (1992-924) ---curiously remain little known.† Hanke hypothesized that little is known about the two inflations probably because â€Å"the peak monthly inflation rates were so high as to be incomprehensib le.† According to Hanke, the highest one-day inflation ever recorded was in Hungary in July 10, 1946 when it was 348.46%. Under the Slobodan rule of Milosevic, Yugoslavia recorded the second highest monthly inflation at 313 million percent in January 1994.The hyperinflation which has the reputation of producing the month with the highest inflation was in Hungary in July 1946 but Hanke did not provide the inflation data. In 1988, Morales (1988) reported that the Bolivian hyperinflation of 1984-86 was the only case hyperinflation not associated with a world or civil war. ... Great Inflation of History I. Introduction According to Hanke (2008a, p. 2), hyperinflation is â€Å"defined as a rate of inflation per month that exceeds 50 percent.† Episodes of hyperinflations are rare and they do not take â€Å"when money has been commodity-based or when paper money has been convertible into a commodity† (Hanke, 2008b).There have been 30 hyperinflations in history (Hanke, 2008a). The 30th hyperinflation was supposedly in 2008 in Zimbabwe. The first hyperinflation happened during the French revolution of 1789-96 (Hanke, 2008b). For Hanke (2008b, p. 187), the most well-known hyperinflation of the 20th century was â€Å"the great German hyperinflation of the 1920s, when the monthly inflation rate peaked approximately 30,000% in October 1923.† Meanwhile, Hanke (2008b, p. 186) reported that â€Å"the two most virulent hyperinflations recorded---Hungary (1945-46) and Yugoslavia (1992-924) ---curiously remain little known.† Hanke (2008b, p. 1 86) hypothesized that little is known about the two inflations probably because â€Å"the peak monthly inflation rates were so high as to be incomprehensible.† According to Hanke (2008b), the highest one-day inflation ever recorded was in Hungary in July 10, 1946 when it was 348.46%. Under the Slobodan rule of Milosevic, Yugoslavia recorded the second highest monthly inflation at 313 million percent in January 1994 (Hanke, 2008b).The hyperinflation which has the reputation of producing the month with the highest inflation was in Hungary in July 1946 but Hanke (2008b) did not provide the inflation data. In 1988, Morales (1988) reported that the Bolivian hyperinflation of 1984-86 was the only case hyperinflation not associated with a world or civil war. However,

Individual Report Essay Example | Topics and Well Written Essays - 250 words

Individual Report - Essay Example One of the company rules was that leadership was to be chosen based on merit and looking at all the other members; I noted that I would effectively fit the role. Given that the company was a management based on shares, I had prior knowledge on business law in which the issues relating to shares was a special focus for me. Moreover, I had taken some communications skills courses beforehand and I believed that this was a strong pre-qualification to lead others in the most senior position. According to Maloney (2012), good communicators tend to send a message of charisma even if they may not. In my case, it was communication and natural charisma. The role of administration tends to attract more responsibility as opposed to the specific function of operations that I initially held. Beforehand, I had the natural trait of working longer and smartly, some kind of workaholic. There was much to be done initially and the choice of my taking the post of administration was not just personal but pure democracy. In a democracy, all the stakeholders take part in the decision making and the majority rules (Munjuri, 2012, p. 213). My case was, however a situation of en masse process in which all the other members decided that I was to take the post. I determined that I had much to my shoulder in the new position but I was determined to do it for the sake of the company. Maloney, T. R. (2012, 10 10). Employee Recruitment And Selection: How To Hire The Right People. Retrieved 12 4, 2013, from Cornell University: