Summary 3 - Limits to the economic recovery 1925-1929 Flashcards
What was a continuous problems between the years 1925-1929?
Unemployment and by the end of 1925 it had reached 1 million and by march 1926 it reached 3 million
Why was unemployment so high throughout these years?
Due to more people seeking work, partly due to public spending cuts and companies cutting workforces in order to make efficiency savings
By how many did the mining companies reduce their workforce by?
136,000 between 1922 and 1925 and then reduced them by another 56,000 between 1925 and 1929
Who gained very little in the Weimar economic miracle?
The professional middle class
. They were bankrupted by the 1923 hyperinflation crisis
.Middle class managers, clerks and bureaucrats did not benefit
By the late 1920s what happened to industrial sector wages?
They had drawn level with those of the middle class
After 1923 what did the govt do for farmers?
They made it easier for farmers to borrow money
What was the impact of allowing farmers to borrow money easier?
This made matters worse as farmers became saddled with debt at a time when prices were falling so they could not keep up with the repayments
How did the governments of 1925-1929 try and help the farmers?
High import tariffs on food products, import controls and subsidies to farmers but the measures never went far enough
How did the plight of German farmers worsen in the years 1925-1926?
There was a global grain surplus and therefore a price slump
By 1929 what level was German agricultural production at?
less than three quarters of its pre war levels
