Weimar Germany Economy Flashcards
(15 cards)
Weimar Germany’s 3 aims for the economy
-Dealing with impacts of the war
-Golden Years
-Recovery from depression
Weimar government welfare measures post war.
-Social security as a constitutional right.
- Benefits to war veterans
Evidence of improved workers’ lives post war in WG
- wages rose every year up until 1929
Evidence of economic weakness post- war in WG
Relied on loans for welfare measures due to unpopularity of taxes.
Solution of printing money- led to hyperinflation in 1923.
Challenges to the economy post- war in WG
Treaty of Versailles reparations.
Returning soldiers needing jobs, damaged infrastructure.
Evidence of integration with the West during the Golden Years
Joining the League of Nations in 1926.
Dawes Plan and Young plan- gave Germany US loans to pay back reparations, and reparations reduced from £6.6bn to £2bn.
Stressemann’s ways of aiding recovery from hyperinflation
Rentenmark end of 1923.
Evidence of economic success in the Golden Years
Exports rose by 40%.
Wage increases every year.
Economic weakness in the golden years: domestically
Farming in recession.
Unemployment rising pre- WSC.
Economic weakness in the golden years: Foreign
Too much reliance on America? More susceptible to damage after WSC.
Weak economic policies post WSC
Bruning’s deflationary policies.
Impact of WSC on banks
5 major banks collapse.
Impact of WSC on business
50,000 businesses collapse.
Impact of WSC on workers
Unemployment rose (4 million by 1931)
Evidence of Bruning dealing with WSC well
Public work schemes introduced.