Reasons for the economic boom in 1914

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  • REASONS for Economic trends
    • Germany's population was growing rapidly from 50 million in 1890, to 68 million in 1914
      • PROVIDED the MARKET & the LABOUR FORCE, for an expanding economy
      • Caused by people MOVING from the COUNTRYSIDE to the TOWNS
    • Germany possessed HUGE NATURAL RESOURCES, such as coal
    • Germany had a very GOOD RAILWAY SYSTEM
    • Germany had an EXCELLENT EDUCATION SYSTEM
      • Its INSTITUTIONS of HIGHER EDUCATION LED the WORLD
        • DEGREES available to lower middle class people
      • Education for TECHNICAL SKILLS INCREASED
    • German industry ECOURAGED SCIENTIFIC RESEARCH
      • Resulted in IMPORTANT DISCOVERIES
    • German BANKS PURSUED an adventurous policy of generous long-term CREDIT FACILITIES for industrial firms
      • Banks INSTRUMENTAL in the development of a DISTINCTLY GERMAN FEATURE of INDUSTRIALISATION (CARTELS)
        • CARTE;S important in achieving ECONOMIC P;ANNING, ELIMINATING WASTEFUL COMPETITION & PROMOTING EFFICIENT LARGE-SCALE PRODUCTION
    • INCREASE in INTERNATIONAL TRADE

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