I think that almost every intro economics textbook notes that lenders hate inflation and that borrowers love it. Beyond that, things get more complicated in terms of who benefits from inflation and who is hurt by it. Long ago, Keynes noted that inflation was a convenient way for reducing workers real wages without having to cut their money wages, which was more likely to elicit resistance from workers.. In connection to that, governments might print extra currency in order to smooth over social tensions. One factor in the hyperinflation that Germany experienced after the Great War, was that the German government was printing extra money to pay off striking workers while at the same time the government was also paying war reparations as required under the Versailles Treaty. At that time, the German government was eager to please striking workers, given that the country had only recently experienced the failed revolution of 1919, and was continuing to experience serious social unrest after that.
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