Weimar Economy 1929-1932

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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
        • 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.
      • 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

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