Extent of economic recovery Flashcards
How did Germany’s situation improve?
With the combined help of the new currency, the Dawes Plan and Schact’s work at the Reichsbank.
What happened to industrial output?
It grew after 1924.
What happened to the economy in 1928-29?
It was shrinking.
What was happening in the chemical industry?
Advances were being made such as the production of large-scale fertilisers.
What was the inflation rate like?
It was close to zero and living standards rose as wages began to increase from 1924.
What did loans do?
They helped to finance the building of housing, schools and municipal buildings, road and public works.
What did population growth do to the housing crisis?
Due to the increase in population, there was a serious housing shortage in Germany by the end of the 20th century. The overcrowding and unsanitary conditions of WC city accommodation had been linked to political instability.
How many dwellings were built by 1928?
178,930
What was money spent on?
Welfare payments and health improvements and, in 1924, new schemes of relief were launched.
What happened to the number of strikes?
They had declined due to the system of Compulsory Arbitration.
What happened in 1928?
There was a dispute in the iron and steel industry in the Ruhr which resulted in the arbitrator granting a small wage increase to the workers. The employers refused to pay the increase and locked out the workers for four weeks. The workers were supported by the gvt who paid their wages.
How much did wages increase by in 1927 and in 1928?
9% in 1927 and a further 12% in 1928
