"When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany" by Adam Fergusson is a sobering account of the economic collapse that occurred in Germany in the early 1920s. Fergusson's book is a fascinating read for anyone interested in economics, history, or politics.

The book chronicles the rise and fall of the German mark, the country's currency during the Weimar Republic. The Weimar Republic was established after World War I, and Germany was saddled with a massive debt burden as a result of the war reparations imposed by the Treaty of Versailles. In an effort to pay off this debt, the German government turned to the printing press, and began to print large quantities of money.

At first, this policy seemed to work. The government was able to pay off its debts, and the economy began to recover. However, as the printing presses continued to run, the value of the mark began to decline rapidly. Soon, prices began to rise, and the German people began to lose faith in their currency.

Fergusson's book is an excellent account of the events that led to hyperinflation in Germany. He explains the economic policies that were pursued by the government, and the consequences of these policies for the German people. He also provides a vivid portrait of the social and political unrest that was caused by hyperinflation, and the rise of extremist political movements.

One of the strengths of Fergusson's book is its accessibility. He presents complex economic concepts in a clear and concise manner, making the book accessible to readers who may not have a background in economics. He also provides a wealth of historical detail, painting a vivid picture of life in Germany during the hyperinflationary period.

Another strength of the book is its relevance to contemporary economic issues. Although the events described in the book took place almost a century ago, the lessons of hyperinflation are still relevant today. Fergusson's book is a cautionary tale about the dangers of deficit spending and the printing of money. It serves as a reminder that governments must be vigilant in their economic policies, and must be willing to make difficult choices to ensure the long-term stability of their economies.

Fergusson's book is not without its weaknesses, however. One of the criticisms that has been leveled against the book is that it focuses too narrowly on the economic policies of the Weimar government, and does not take into account the broader political and social context of the time. Some critics argue that the rise of extremist political movements in Germany was not solely the result of economic factors, but was also influenced by a variety of social and political factors.

Despite these criticisms, "When Money Dies" is an important book that provides a valuable insight into the dangers of hyperinflation. It is a well-written and engaging account of a crucial period in German history, and it serves as a cautionary tale for policymakers today. The lessons of hyperinflation are still relevant, and Fergusson's book is a valuable reminder that economic stability is a fragile thing, and must be protected at all costs.