Money-crisis-generation. Socio-monetary journeys through the 20th century

Abstract

The article presents first results of an empirical study on the transformation of behaviour as to money and on the social effects of the major currency events in 20th century Germany. The particular approach in the design of this study is that the total of 144 individuals interviewed included people from three generations within each single family. Whereas the causes of inflation have been the object of inquiry in many scientific studies, the effects of inflation regarding social character, socio-economic, cultural, and gender-specific aspects have largely escaped the scope of sociological research. This study shows the longevity of monetary norms, behaviour, and dispositions over the course of a century. Even projections into the future regarding monetary processes are often formed along the lines of models of the past and interpreted according to corresponding cognitive patterns, It shows that, when faced with a frightening economic crisis, only an informed minority of people behave according to textbook expectations. Adaptation of behaviour takes place only with considerable time lags over generations.