Germany- Economic development and policies, 1918-1989

April 1921
Reparation payments set at £6.6 billion
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January 1923
France and Belgium invade the Ruhr
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Mid 1923
Hyperinflation begins; all Germany money becomes worthless
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October 1929
Wall Street Crash in America and Gustav Stresemann dies
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1933-1936
The first Four Year Plan (Only lasted three years)
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1936-1939
The second Four Year Plan (cut short due to war)
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1942
Central Planing Board set up which was in charge of the distribution of raw materials, decision making in regard to factories and transport.
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1948
The Marshal Plan- An American initiative to give aid to Western Europe to improve their economies after the war
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March 1948
Ludwig Erhard becomes the Director of Economic Administration
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April 1948
FRG joins the Organisation for European Economic Co-operation (OEEC)
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1950
FRG joins the European Payment Union
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1951
FRG joins the General Agreement on Tariffs and Trade
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1952
FRG joins International Monetary Fund
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1955
FRG joins NATO
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25th March 1957
FRG signed the Treaty of Rome (established by the EEC)
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1966-7
FRG experiences economic recession
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1973
Oil crisis
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1978
Another Oil crisis
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Black Market
an illegal trading system
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Social Welfare
support system for those affected by WW1 e.g women who had lost their husbands/ disabled soldiers
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Gustav Stresemann
German chancellor in 1923. German Foreign minister 1923-29
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'The Golden Years'
A period of economic prosperity between the years 1924-1929
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Rentenmark
New currency introduced by Stresemann to get Germany out of economic crisis in 1923
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Reichsmark
New currency introduced in August 1934 once the economy had stabilised
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Dawes Plan (1924)
Fixed payment system for reparations. Also proposed reorganisation of the German bank and more foreign loan
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Young Plan (1927)
Lowered reparation payments and set fixed time for repayment
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Autarky
Economic self-sufficiency
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Hajamar Schacht
A Weimar economist who was kept on by the Nazis. President of the Reichsbank and creator of the New Plan
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New Plan(Schacht)
Aimed to reduce imports, reduce unemployment , channel government spending into a wide range of industries and make trade agreements with other nations
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4 Year Plan (Goring)
Aimed to prepare Germany for war by rearming and achieving Autarky
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Invisible Unemployment
Sections of society who were not included in unemployment figures e.g Jews, Gypsies and women
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DAF
Germany Labour Front
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RAD
National Labour Service- took part in Public Work Schemes such as building autobahns
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Strength Through Joy (KdF)
An organisation which look care of peoples leisure time
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Beauty of Labour
An organisation tasked with improving working life e.g. factory time
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National Socialist People's Welfare Programme (1933)
Divided people into those who 'deserved' help and those who didn't
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Winter Aid programme(1933)
Provided deserving poor with food/clothing etc.
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Volkswagen
'the peoples car'. A KdF method of improving the standard of living
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Common Economy
The government controls what is made and how much is produced
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Fritz Todt
26th Feb 1940 became Minister of Armaments and Munitions
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Social Market Economy
A free market with elements of social wefare
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Marshal Aid
Aid given in response to the Marshall Plan
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Economic Miricle
refers to a period of dramatic economic development that is entirely unexpected or unexpectedly strong
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OPEC
Organisation of Petroleum Exporting Countries
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Other cards in this set

Card 2

Front

France and Belgium invade the Ruhr

Back

January 1923

Card 3

Front

Hyperinflation begins; all Germany money becomes worthless

Back

Preview of the back of card 3

Card 4

Front

Wall Street Crash in America and Gustav Stresemann dies

Back

Preview of the back of card 4

Card 5

Front

The first Four Year Plan (Only lasted three years)

Back

Preview of the back of card 5
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