Why is the Japanese Yen almost worthless in comparison to the dollar, even though Japan is the3rd largest global economy?
In: Economics
Japan had a lot of inflation post WWII because their economy was shit because their country got bombed to fuck.
Most countries that experience a lot of inflation switch their currency at some point so the numbers aren’t so huge.
In the last 100 years, Germany has had German Papiermark, Reichsmark, Deutsche Mark and Euro.
Japan on the other had, instead of creating a new currency with new denominations, they just said ‘meh, deal with it’. Got rid of their ‘penny’ equivalent. And just had bigger numbers.
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