Topic 4: Economic and social change 1956-75 Flashcards
1
Q
What was the economy like in 1956?
A
- price in goods grew to 20% per year
- unemployment at 35%
- salary increases in 1957- decline in standard of living
2
Q
Reasons for an ‘economic miracle’?
A
- growth of tourism
- increased foreign policy
- broader European ‘Boom’
- Franco’s change of economic policy
3
Q
What evidence was there of an ‘Economic miracle’ between 1960-75?
A
- cost of consumer goods determined by market not gvt ministers
- prices falling as it had been inflated by gvt
- positive impact on living standards
4
Q
Reason for ‘Economic miracle’: Growth of tourism
A
- international business investors and foreign gvt interested in Spain
- beaches and weather showed it as a holiday destination
- lucrative market of tourism
5
Q
Reason for ‘Economic miracle’: Boarder European ‘Boom’
A
- golden age of capitalism
- period of strong economic growth
- experienced unusually high and sustained growth, together with full employment
6
Q
What did Harold Macmillan say in his speech?
A
- 1957
- UK PM
- “most of our people have never had it so good”
7
Q
Reason for ‘Economic miracle’: increased foreign policy
A
- went into decline as a result of unrest in middle east- made petrol prices rise
- emigration rose- created positive economic growth
- workers who were abroad sent portion of wage back to families in Spain
8
Q
Reason for ‘Economic miracle’: Franco’s change of economic policy
A
- decline of falangists
- rise of technocrats
- stabilisation plan
9
Q
What was the decline of the Falangists?
A
- Feb 1957
- Falange ministers removed from posts or demoted
- made people more willing to come to Spain
- result from economic debates with gvt
- Franco realised Falange not an asset to his regime
10
Q
What did Franco replace the Falange Ministers with?
A
open-minded and reformist views
11
Q
What was the Rise of the Technocrats?
A
- willing to embrace to ideas of free market
- identified excessive state intervention held back the growth of economy
free trade instead of autarky - new approach appealed capitalist nations- US
12
Q
What was the Stabilisation Plan?
A
- 1959
- open up Spanish economy to external influence
- reductions in public spending
gvt abandoned control over prices - abandoned autarky and corporation
