The Zoty

'A compelling tale of a nation and its currency; as in all things Polish, triumph and tragedy are well mixed. The accomplished authors have produced a monumental historical work with relevance and resonance for today's affairs. The story of Polish gold in the Second World War is a thrilling account, told with panache.' David Marsh, Chairman and Chief Executive Officer, OMFIF

Autorentext
Harold James is Professor in History and International Affairs and Claude and Lore Kelly Professor in European Studies at Princeton University. His books include The German Slump (1986), International Monetary Cooperation since Bretton Woods (1996), The End of Globalization (2001), and recently Making a Modern Central Bank: The Bank of England 1979-2003 (2020) and Seven Crashes: The Economic Crises that Shaped Globalization (2023). Marzenna James is a lecturer in public and international affairs at Princeton University, in the Politics Department and the School of Public and International Affairs. She has published on economic power in Obserwator Finansowy, Kultura i Spoeczestwo and Studia Polityczne in the 2020, 2021, 2022, 2023, and 2024 volumes in the Library of Economic Thought Series of The Polish Economic Society, Warsaw.

Klappentext
The Z oty draws on recently available Polish archival material from central banks and international institutions to show how long-lived debates about inflation have been central in Polish political history. It offers surprising revelations about the drama of the evacuation and legal treatment of the central bank's gold after the German invasion of 1939 and the long struggle for economic and monetary reform while Poland was part of the Soviet system, going back to the late 1950s. It includes interwar and post-1990 sections that give an exemplary case of how a country on the periphery of the international economic system tried hard to integrate, ultimately failing in the first instance, while succeeding with dramatic success over the past thirty-five years. Written in gripping and non-technical language, this book offers a scholarly yet accessible account of Poland's struggles with inflation, foreign debt, and Nazi and communist rule.

Zusammenfassung
A gripping narrative of Poland's struggles with inflation, foreign debt, and Nazi and communist rule. Revelations include the story of the dramatic last minute evacuation of the central bank's gold after the German invasion of 1939, while a central bank under German occupation also worked with the Polish underground.

Inhalt

Introduction: the monetary odyssey; 1. Inflation: wealth out of nothing; 2. 'O w asnych si ach', on one's own: the tale of two reforms; 3. Przeciwko nim, against them: stabilization and misery; 4. On the brink: the later 1930s; 5. Kto ma broni z otego, je eli my sami b dziemy od niego uciekä? Who is to defend the z oty, if we ourselves run away from it? The Second World War; 6. Dlaczego ogórek nie piewa: why does the cucumber not sing? The bank in a planned economy; 7. 'Jest le:' the long transformation or a 'somewhat half-baked economic reform'; 8. Inflation and transition: war at the top, Wojna na górze; 9. Not necessarily NICE: the management of openness; Conclusion: the escape from inflation, or arriving home from the odyssey.