Audio Mises Wire

To Smoke or Not to Smoke: The Cigarette Economy in Postwar Germany, 1945–48

Audio Mises Wire
T. Hunt Tooley

Postwar Germany was occupied, in ruins, with an economy in chaos. Germans were reduced to using cigarettes supplied by American GIs as money.

Original Article: “To Smoke or Not to Smoke: The Cigarette Economy in Postwar Germany, 1945–48