Floating currency is just a way to automatically renegotiate all of a country's contracts. It will not magically create more wealth or lower the costs of materials. In the end, if you're importing something for $1 and you earn $100/yr or it costs $3 because of your devalued currency but you earn $300/yr, nothing has changed.
What sucks is the most productive people left and the already massive state obligations fell on those left. It wasn't the currency that did that.
What sucks is the most productive people left and the already massive state obligations fell on those left. It wasn't the currency that did that.