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Clothed in rags by hyperinflation: the case of Zimbabwe


  • Makochekanwa, Albert


After employing a number of qualitative methodologies in investigating and analyzing the devastating hardships and sufferings inflicted on ordinary Zimbabweans by the hyperinflationary environment bedeviling the country, the study found some interesting things. Some of the hardships and sufferings currently common and being experienced by most Zimbabweans on daily basis include non affordability of essential products and services, non availability of local currency in banks, not allowed to withdraw enough cash from banks, endurance of long and winding bank queues, the inability to make any projected financial planning, inability to make credit purchases and stressful life. The research also found that most people ended up engaging themselves in barter trading, dollarization, buying and selling, foreign currency dealing and money ‘burning’ as strategies to survive in this hyperinflationary environment. Lastly, increased criminal activities, erosion of generally held good morals as well as disappearance of good business ethics have been found to be some of the consequences of hyperinflation on the human behaviour of most Zimbabweans.

Suggested Citation

  • Makochekanwa, Albert, 2009. "Clothed in rags by hyperinflation: the case of Zimbabwe," MPRA Paper 28863, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28863

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    References listed on IDEAS

    1. Giuseppe Fontana, 2000. "Post Keynesians and Circuitists on Money and Uncertainty: An Attempt at Generality," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 23(1), pages 27-48, September.
    2. Giancarlo Bertocco, 2007. "The characteristics of a monetary economy: a Keynes--Schumpeter approach," Cambridge Journal of Economics, Oxford University Press, vol. 31(1), pages 101-122, January.
    3. Davidson, Paul, 1972. "Money and the Real World," Economic Journal, Royal Economic Society, vol. 82(325), pages 101-115, March.
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    More about this item


    Hyperinflation; hardships; sufferings; survival; strategies;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes


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