Industry 1873 - 85 Flashcards
What problems were in industry to do with expansion rate?
It was slowing down but didn’t regress because the foreign demand was decreasing
What problems were in industry to do with the difference in education between Britain and Germany?
Germany trained and taught their youngster industrial training compared to the British, so they had encouraged innovations
What problems were in industry to do with the coal and iron industries?
They were becoming overcrowded
What evidence is there that there was an economic depression from 1873 - 85 to do with unemployment?
There was an increase in the percentage of those unemployed from 1% in 1872 to 11.4% in 1879
What evidence is there that there was an economic depression from 1873 - 85 to do with trade?
Other countries were abandoning the idea of free trade such as Germany, Italy and the US. This meant that British goods now had tariffs placed on them
What evidence is there that there was an economic depression from 1871 - 96 to do with coal and textile prices?
They decreased by over 30%
What evidence is there that there was not an economic depression from 1873 - 85 to do with economic growth?
The economic growth only slowed down and never decreased
What evidence is there that there was not an economic depression from 1873 - 85 to do with real wages?
They grew in the period for workers
What evidence is there that there was not an economic depression from 1873 - 85 to do with foreign powers?
Germany and USA were also having a dip in their industries so it wasn’t only Britain
What evidence is there that there was not an economic depression from 1873 - 85 to do with population growth?
The continual increase in the population stimulated the economy
