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Economic and social problems in Germany, 1919-24 (Financial problems in…

- - - - Black-marketeers bought food stocks and sold vastly inflated prices
      - Had debts, mortgages and loans pay money owed in worthless currency
      - Enterprising business people took new loans and repaid once currency devalued
      - Leasing property long-term fixed rents gained as real value rents paying decreased
      - Owners foreign exchange and foreigners living Germany benefit
      - Countryside: farmers well, food demand and money less important rural communities
    - - Pensioners badly hit e.g. war widows living on state pensions
      - Patriotically lent money government wartime purchasing fixed interest rate ‘war bonds’ lost because interest payments decreased value
      - Landlords reliant fixed rents
      - Unskilled workers not belong trade unions- workers wage increases not rising prices so standards living declined. 1923: increase unemployment, short-time working so 29.3% workforce employed
      - Artisans and Mittelstand (disproportionate share taxes)
      - Sick: cost medical care increased with rapid rise food prices led malnutrition (death/ suicide rate increase)
      - Children: malnutrition, tuberculosis, rickets- dietary deficiency