By the mid-1990s, the economy of Zimbabwe was in serious trouble.
The national government under its dictator Robert Mugabe had spent years confiscating private property– real estate, businesses, factories, bank deposits, etc.
And unsurprisingly, this had a disastrous effect on the economy.
Productive citizens and talented entrepreneurs left Zimbabwe in droves– after all, who would want to keep operating under such awful conditions?
So within a few years, everything from food production to mining output to manufacturing had plummeted.
The banking sector collapsed. Unemployment soared. Tax revenue dried up.
So Mugabe did what most politicians would do in that position: he started printing money.
This is an old trick that governments have relied on for………………snip