German Economy

  • Created by: taq
  • Created on: 26-05-18 14:18
What did the 1871 currency reform cause?
Inflation, which led to easy credit for industrial growth
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How much did the economy grow annually?
5% until 1873
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How much of the GNP was from agriculture?
35-40% until 1880s
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How much chemical dye did Germany produce?
more than 75% of the world's chemical dye by the 1900s
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What did Germany lead in producing?
artificial fibres, plastics, pharmaceuticals
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How did Germany's production of electrical energy increase?
by 150% between 1901 and 1915
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How much of the global electrical trade did Germany control?
50% by 1913
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Which motor business flourished?
Mercedes Benz
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How much of the population was employed in agriculture?
35% in 1907
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How many acres of land were cultivated from 1880 to 1900?
over 4 million
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When was the recession in world trade?
1873-96
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How much did the working class make compared to their British counterparts?
made 1/3 of what British workers made
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How much did the amount of marks in circulation increase by after the war?
from 200 million in 1913 -> 45 thousand million 1919
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How much did national debt increase between 1913 and 1919
from 5000 million marks to almost 150 thousand million marks
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How much was the currency worth in 1919 compared to before the war?
less than 20% of its pre-war value
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How much did the price of food and consumer goods increase by 1919-20?
it tripled
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How much was the 1921 reparations bill?
£6.6 billion
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How was unemployment compared to Britain?
Only 1.8% compared to Britain's 17%
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When did hyperinflation become official?
July 1922 when it reached above 50%
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How many calories were people eating a day?
1000
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When did occupation of the Ruhr occur and which Chancellor encouraged passive resistance?
January 1923, Chancellor Cuno
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What was the Dawes Plan and when?
Loan of 800 million marks from USA, new infrastructure, decreased reparations paid anually
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How was the economy in 1926?
inflation was below zero, unemployment over 20%, balance of payments deficit
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What and when was the Young Plan?
1929, decreased reparations by 3/4 or 75%
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How was industrial production in 1919?
just over 1/3 of 1913 levels = bad
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How many cartels were operating in 1925?
3000
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the coal industry in 1927
reached 79% of pre 1913 levels
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When were there poor harvests?
1916 and 1917
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How was land distributed?
In 1919 20% of cultivated land belonged to less than 1% of landowners
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What was rising faster than productivity?
Wages
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When did the economy surpass pre 1913 levels?
1929
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When did the Wall Street Crash occured?
October 1929
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What decreased in Germany after the crash?
Investment, loans and trade
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How Bruning react to the WSC?
cut gov spending, cut public worker wages, cut unemployment benefits
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What happened to agriculture?
Powerful agricultural interests in gov meant food prices kept artificially high
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When and what was the banking crisis?
July 1931, Germany's largest bank, the Danatbank, collapsed, after French withdrew from Austrian banks
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What did Bruning plan to do before he was out of office?
borrow money to create job creation schemes and devalue the mark
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What happened to reparations under Bruning?
Met with Pres. Hoover who agreed to halt reparations
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What did Papen do to the economy?
1932 emergency decree gave tax rebates to employers hiring new staff, end of compulsary arbitration and relaxation of wage agreements system. Opposed by LW and TUs.
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When was the worst of the depression over by?
1933, due to revival in world trade
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How many were unemplyed in Feb 1932?
6 to 8 million
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Were there more full time or part time workers in 1932?
Full time workers outnumbered by part time and unemployed
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How old were the unemployed?
Majority under 25
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How much did real wages fall by 1932?
real wages fell by around 1/3 on average
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How much did private investment increase under the Nazis?
From 0.3 billion 1932 to 3.2 billion 1933
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When did unemployment figures become negligable?
by 1939
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How much of its raw materials did Nazi Germany import?
1/3 in 1939
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In 1942 what % of prisoners were being used in work?
40%
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When was the Central Planning Board established?
April 1942
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How much did prodution increase by?
ammunition = 97%, armaments = 50% (in 6 months)
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How many foreign workers were being used?
7 million
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How many bombs were dropped on Germany a month?
111 thousand
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Who prevented female conscription and until when?
Fritz Saukel (head of supply of labour) until 1943
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How did Hitler harm the economy?
He was unrealistic and unwilling to endorse rationing
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1950s growth rate
8.2%
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Germany was the _?_ largest economy in the world by the 1960s
3rd
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50% of 1950s exports were what?
mechanical engineering, cars, electricals and chemicals
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What was the lowest level of unemployment in the 50s?
just 0.5%!
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When was the Investment Aid Law?
1951
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When was the Co-Determination Law?
1951
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When was the Anti-Trust Law?
1957
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How was the economy in 1965?
GDP growth less than 3%, industrial growth less than 2%
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What was inflation during the 1960s recession?
4%
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How much did Erhard reduce spending plans by?
10%
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When was the budget balanced by?
1967
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Industrial growth in 1968?
6%
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Inflation in 1969?
1.5%
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When was the Stabilisation Law?
1967
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WHen was the Treaty of Paris?
1951
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When did the FRG join the IMF?
1952
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When was the Treaty of Rome?
1957
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What happened 1958-68 regarding trade in the EEC?
value of trade between members quadrupled in value
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When was the SIngle European Act?
1987
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When was the first serious post war recession?
1974
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Wheat proportion of BMW workers laid off in the 1970s were Gastarbeiter?
4/5
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How many immigrant workers and families left Germany?
290 thousand by 1975
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How much did the world price of food increase by?
100%
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How much more did FRG have to pay for its imports during the Oil Crisis?
17 billion Deutschmarks
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How did balance of payments change in the 1970s?
Whent from surplus of almost $10m to deficit of almost $700m in 1973/4
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How much did the price of oil increase by in the 2nd Oil Crisis?
150% December 1979-May 1980
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What did unemployment rise to during 2nd Oil Crisis?
over 2 million
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How was inflation 1973-9?
average 4.7% compared to West Europe's average of 12%
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What did Kohl limit annual budget increases to?
3%
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When did oil prices fall and FRG exports recover?
1985
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How did inflation change in the 1980s?
from 6% in 1981 -> 0.6% in 1986
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Unemployment in 1987?
over 2.2 million
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Other cards in this set

Card 2

Front

How much did the economy grow annually?

Back

5% until 1873

Card 3

Front

How much of the GNP was from agriculture?

Back

Preview of the front of card 3

Card 4

Front

How much chemical dye did Germany produce?

Back

Preview of the front of card 4

Card 5

Front

What did Germany lead in producing?

Back

Preview of the front of card 5
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