Golden Years of the Weimar Republic (2)
- Created by: hettie.gosss
- Created on: 27-05-19 17:12
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- Golden Years of the Weimar Republic
- Industry
- Combination of a new currency, the Dawes Plan and Schacht's work at the Reichbank helped improve the economic situation.
- Loans helped stimulate the economy and industrial output grew, however it didn't reach pre-war levels until 1929.
- Bankruptcy rose from 233 to over 6000 in 1924. economy shrank in 1928 and 1929.
- Germnay was allowed to protect industries by introducing tariffs on imported goods.
- Inflation rate was close to zero and living standards rose as wages began to increase. Loans helped to build schools, houses etc. 1925 - 178,930 houses were built.
- Number of strikes declined.
- Workers resented the interference of government in their business.
- Increase in real wages after 1924, in 1927 they rose by 9%
- Mittlestand - gained little. bankrupted by hyperinflation. many didn't enjoy the wage rise of others. unemployment was still a problems by 1926 it had reached 3 million.
- Agriculture
- Inflation of the 1920s - large landowners and farmers borrowed money to buy machines. they became flooded with debt when prices fell and could not keep up with the repayments/
- Farmers gained little. Worldwide agricultural depression kept food prices low and few farmers made profit.
- Global grain surplus and price slump in 1925 and 1926 meant farmers were in even worse position and many went bankrupt.
- By 1929, agricultural production was less than 3/4s its pre-war levels
- Inflation of the 1920s - large landowners and farmers borrowed money to buy machines. they became flooded with debt when prices fell and could not keep up with the repayments/
- Industry
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