Knowledge Organiser: Economic development and policies Flashcards
What happened in April 1921?
Reparations payment set at £6.6 billion
What happened in January 1923?
France and Belgium invade Ruhr
What happened mid 1923?
Hyperinfaltion begins
What happened in October 1929?
Wall Street Crash & Stressman dies
What happened between 1933-1936?
First 4 year plan
What happened between 1936-1939?
Second 4 year plan
What happened in 1942?
Central Planning Board- in charge of distribution of raw materials, desicion making for factories and transport
What hppened in 1948?
Marshall Plan
What happened in March 1948?
Ludwig Erhard becomes Director of Economic Administration
What hapened in April 1948?
FRG joins Organisation for European Economic Co-operation
What happened in 1950?
FRG joins the European Payment Union
What happened in 1951?
FRG joins the General Agreemeant on Tariffs and Trade
What happened in 1952?
FRG joins the International Monetary Fund
What happened in 1955?
FRG joins NATO
What happened on 25th March 1957?
FRG signed Treaty of Rome
What happened in 1966?
FRG experiences economic recession
What happened in 1973?
Oil Crisis
What happened in 1978?
Another oil crisis
What is the Black Market?
illegal trading system
What is social welfare?
support system for those affected by WW1
Who was Gustav Stressman?
German chancellor in 1923
German Foreign Minister 1923-1929
What werr the ‘Golden Years’?
period of economic prosperity 1924-29
What is Rentenmark?
new currency intoduced by Stressman to get Germany out of econmoic crisis
What is Reichsmark?
currency intoduced in 1934 when economy had stabalised
What was the Dawes Plan?
- 1924
- Fixed repaymeny system for repaations
Young Plan?
- 1929
- lowered reparation payments and set a fixed time for repayment
What is Autarky?
ecomomic self-sufficiency
Who was Hajamar Schacht?
- Weimar economist who was kept on by Nazi’s
- created the New Plan
What was the New Plan?
- aimed to reduce imports, reduce unemployment, make trade agreements with other countries
What was the 4 Year Plan?
- Goring
- prepare Germany for War by rearming and achieving autarky
What is invisible unemployment?
sections of society that were not included in enumployment statistics
Who are DAF?
German Labour Front
Who were RAD?
National Labour Service
What was Strength Through Joy?
organisation that took care of people’s leisure time
What was Beauty of Labout?
organisation to imrpove working life
what was the National Socialist People’s Welfare Programme?
- 1933
- divided people into those who deserved help and people who didn’t
What happened in the Winter Aid Programme?
- 1933
- provided deserving poor with food/ clothing
What is Volkswagen?
- the ‘people’s car’
- KdF method of improving standard of living
What was the Command Economy?
gvt controls what is made and how much is produced
Who was Fritz Todt?
1940 he became Minister of Armaments of Social Welfare
What was the Social Mrket Economy?
free market with elemets of social welfare
What was Marshall Aid?
aid given in response to Marshall plan
What is an Economic Miracle?
period of dramatic economic developments that are unextepcted or strong
