Golden Years of the Weimar Republic (2)

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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


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