Inflacja w państwie polskim (1918-1939). Uwagi prawno-ekonomiczno-historyczne
Inflation in Poland (1918-1939): Legal, Economic, and Historical Remarks

Summary/Abstract: This article is divided into three sections which are centred around the topic of inflation pressures faced by the Polish economy in the 20th century, particularly in the period of the formation of Polish statehood after World War I. In the first section, the author discusses monetary theories (namely the metallist and chartalist ones), functions of money, four types of inflation (creeping, walking, galloping inflation, and hyperinflation), as well as the concept of an inflation tax. The second section is centred around increasing inflation pressures in the Second Polish Republic and deals with the following topics: the hyperinflation of the Polish mark and the resulting monetary reform of 1924, the second stabilization of the Polish złoty in 1927, the conversion of monetary obligations incurred in the Polish mark into the new currency, and the rebus sic stantibus clause.

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