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Economic change, 1871-1990 (Weimar 1919-1933 (The Golden Era, 24-29…
Economic change, 1871-1990
Industrial Growth and agricultural decline, 1871-1918
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World War One
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Poor harvests, shortages of chemicals for fertilisers (due to the naval blockade), mass conscriptions led to food shortages.
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Weimar 1919-1933
Problems post war
Treaty of Versailles - 15% of arable land lost, 3/4's iron ore and 1/4 of coal production. Enormous economic reperations
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Hyperinflation, 1923
Printed more money- inflation soared, rather than raising taxes
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Dec, 1922 8000 marks to the $ by Nov 1923 4.2 billion. A loaf cost 100 billion marks
The Golden Era, 24-29
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Dawes Plan, influx of American investment
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Weaknesses: unemployment high, imports exceeded exports, dependence on foreign capital
Farmers- collapse of world food prices after 1922 = rural poverty. by 1929 farmers wages were less than 1/2 the national average...they were 1/3 of the population. decline in income led to fall in demand within economy.
The Great Depression, 1929
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The Nazi economy
1933-1939
Created jobs
autobahns, homes, schools and hospitals
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1939- Nazis failed to provide guns and butter- historians argue economy so bad forced into war, however, contrary to this it is now argued economy better than suggested; 1933-36 industrial production doubled, 1937 Germany short of workers, state subsides given to farmers, most were better off.
The war economy, 1939-45
Conquered Europe
Provided food and raw materials, whilst Germany concentrated on industrial production
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Military Production- little increase prior to 1941 but necessary when invasion of USSR took place, and war with USA
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Germany 1945-1990
1945-49
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German economy collapsed, no government remained, Germans starved, the Reichsmark lost all value- barter economy
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