1900-14 Economic Growth Flashcards
How much did the economy expand per year on average?
4.5% a year.
Coal, iron and steel facts
Coal and iron production almost doubled bet 1890 - 1914.
Germany’s steel industry was dominated by the massive Krupp corporation and steel production exceeded that of Britain by 1900.
Name a few new industries Germany was excelling in.
Chemicals, pharmaceuticals, electrics and motor manufacturing. Daimler and Diesel developed cars, for example, and by 1913, Germany produced around 50% of the world’s electrical goods. Also led in synthetic dyes.
What did economic developments result in in industry?
A growing proportion of the population working in industrial and service sectors . This caused the GNP to rise from around 33% to 42%.
Also led to better transport eg railways.
Urbanisation as a result of a growing economy facts
By 1910, 60% of the population lived in urban areas.
Overcrowding and homelessness were negative consequences, however the development of an effective transport infrastructure helped.
Poor standards of living and class tensions as a result of economic growth
Low standing of living for most working people led to an increase in trade union membership - by 1913 over 3 million were members. Class tensions: the industrial working class sometimes in conflict with the owners of industry over pay etc, and the Junkers were in fear of growing socialism. Mittelstand discontented as their standards of living were threatened by new industries.
