Leistungfaehigkeit

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Leistungfaehigkeit

A German term for efficiency. This term was invoked by Rudolf Havenstein, the head of the Reichsbank (the central bank of Germany) during the hyperinflation period in the early 1920s, to describe the success of his monetary policy of printing more money. Havenstein famously did not see the connection between this policy and the hyperinflation.