Weimar Economy 1929-1932
- Created by: TDHChicken
- Created on: 23-11-16 12:16
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- Weimar Economy 1929-1932
- The Great Depression
- Year - Workforce unemployed(%)
- 1921 - 1.8
- 1926 - 10
- 1929 - 6.5
- 1930 - 14
- 1931 - 21.9
- 1932 - 29.9
- Highest ever level
- 1933 - 25.9
- Effects
- 1932 - Industry half of its 1928 levels
- Real wages fell by 14%
- Prices and Exports fell by around 50%
- Bruning
- When the Grand Coalition collapsed in 1930, it was replaced with Bruning.
- The Reichstag rejected policies of higher taxes and lower welfare spending
- President Hindenburg went back to rule by Government decree in July 1930
- The Reichstag rejected policies of higher taxes and lower welfare spending
- Success or Failure
- His policies brought deflation and avoided devaluing the currency
- On July 1 1931, the Hoover Moratorium suspended the need for Germany to pay back loans and interest for a year
- December 1931 - Decree created wage cuts, rent cuts and tax rises
- His policies did not work, they simply deepened the recession.
- When the Grand Coalition collapsed in 1930, it was replaced with Bruning.
- Von Papen
- Introduced tax concessions
- Businesses subsidies for those that created new jobs
- Produced some economic improvement
- Replaced Bruning in May 1932
- Von Schleicher
- Appointed a Reich Commisioner
- Budged of 500 Million Reichsmark
- To oversee public works to create employment
- Never implemented before the Nazis came to power
- Appointed a Reich Commisioner
- Year - Workforce unemployed(%)
- The Great Depression
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