economic stability 1965-1989 Flashcards
when was the recession?
1966-1967
identify 3 ways kiesinger tried to overcome the recession
increase gov spending
introduced cartels
economic stabilisation lw 1967 - gov could intervene in times of economic crisis
how much did the gov increase spending in the recession?
1965 - DM 46.7 mil on social welfare; 1970 DM 114.9 mil
what 2 laws were introduced to help wit the recession?
economic stabilisation law
new clause added to the basic law - gov had authority to move money between the lander
what affected the economy of the FRG in the 1970s?
internation oil risis of 1973 and 1978
who did the FRG rely on for 40% of their oil?
OPEC
how much did the FRG spend on 140 million of tonnes of oil in 1972? How much had this risen to by 1973 and 1978?
DM 10.87 bil
DM 49 bil
what measures were introduced to reduce oil consumption in the FRG?
car free sundays
investment in atomic power
conversion to new fuels in german industries
what economic politices was Schmidt criticised for?
public spending cuts and higher income tax
what did unemplyment hit in 1981?
1.7 mil - highest since 1950
What evidence is there that the FRG governments were moving away from a social market economy?
gov spending was less
how did Kohl further reduce gov interference?
cut maternity benefits and public holidays
sold gov shares in state-run companies e.g volkswagen
