PG economy Flashcards
Examples of the impact of war on inflation
Black bread at 500%, firewood 1100%, gasoline 550%
Why were food shortages such an issue
1917 harvest very poor, grain hoarding in the countryside - grain not worth selling as money useless due to inflation
What happened with the railway system
Began to break down, causing shortages of raw materials meaning factories closed
Example of factories closing and how much this added to unemployment
568 factories closed between Feb and July causing the loss of 100,000 jobs
What was an impact of grain hoarding and a lack of food
PG sent punishment brigades to requisition food - this had a limited impact and made peasants more hostile
What were some positives with economic workers
8 hour day, better working conditions, higher wages and more influence in the workplace - worker committees established
What was an impact of inflation on the workplace
Wages were becoming worthless causing employers to use lock-outs to bring striking workers under control. Worker’s committees started running some factories completely
What did workers demand
Price controls but industrialists pressured the liberals to do nothing - this alienated the socialist leaders in govt from the workers
What was the biggest impact on the economy
The war
