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Economic problems of the weimar republic
Economic problems of the weimar republic
The economic impact of the first world war in Europe
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In this essay I will consider to what extent the German economy has been central to change regarding the development of Germany over the whole period, 1890-1991. I will consider the German economy under the Kaiser in accordance with World War 1, during Hyperinflation under the Weimar Republic in 1923, in Nazi Germany under Hitler and in East and West Germany leading to the building of the Berlin Wall. It appears that the German economy to a large degree has been exceedingly central to change in the country over this entire period. It is evident though that the economy itself has not solely been the derivation of precise events over the course of the period. There have been other ideas and proceedings that must be taken into consideration and I aim to assess the prominence of these notions in opposition to the German economy. These include the radical ideas of the Kaiser and Hitler leading to the occurrence of World War 1 and 2, the ‘Stab in the back’ theory strengthening support for radical parties and anti-fascist ideals prompting the construction of the Berlin Wall.
The German economy under the Kaiser is an example of the effect the economy had on change in the country. The Weltpolitik policy was as adopted by Germany in the 19th century and they wanted their ‘place in the sun.’ Germany had industrialised rapidly since 1850 so that by 1900 under the Kaiser, its industry was the equivalent of Britain’s and bigger than France’s. This meant Germany had economic power and many people wanted to translate this into territorial expansion. Kaiser Wilhelm was too obsessed with his idea of increasing Germany’s sphere of influence over Europe. Growing in confidence Germany was involved in a Naval Race with Britain in the building of Dread...
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...lin Wall which intended to halt the migration of East Germans to the enriched West. Based on the evidence outlined above it is clear that the arguments for the German economy being central to change outweigh the arguments against. There are other points that are important in assisting change such as the Hitler’s aggressive but opportunistic foreign policy leading to World War 2. This is to a great extent more crucial to change than the German economy. But a final judgement suggests that overall no other theme was as imperative to change between 1890 and 1991 as the economy.
Bibliography
Secondary Sources
J Wheeler-Bennett, ‘Ludendorff: The Soldier and the Politician’, 1938
W Norton, ‘Germany's Aims In the First World War’, 1967
G Loescher, ‘The UNHCR and World Politics: A Perilous Path’, 2001
H J Braun, ‘The German Economy in the Twentieth Century’, 1990
The German Weimar Republic was an attempt to make Germany a more democratic state. While this was a very good idea in theory, the Weimar Republic was ineffective due to the instability that came with it. Several factors contributed to the instability of Germany’s Weimar Republic, such as the new political ideals brought forward and the government’s hunger for war. To begin, one of the factors that contributed to the instability of the Weimar republic was the presence of new political ideals. Marie Juchacz unintentionally highlighted that reason in her speech to the National Assembly.
1934. By the end of 1935, GNP in real terms had reached the level of
The economic miracle was the high economic growth experienced by the FRG as a result of the Marshall plan and the financial reforms introduced by the finance minister, Ludwig Erhard. The financial reforms included implementing the currency reform in the Western Zones, lifting most restrictions on control prices in the market and reducing taxation. In the agriculture sector, although farmers continued to receive heavy subsidies, the structure of the economy was changed and as a consequence the proportion of the workforce employed in farming was nearly halved. This meant the economic miracle of the FRG wasn’t a total success because many people who previously had a job in the agricultural sector may find it harder to get a job elsewhere because they may have found it hard to transfer the necessary skills. However, it could still be argued that the agricultural sector was a success because although unemployment in the sector increased, the rationalisation by more mechanisation still brought about a substantial increase in production-nearly 25 per cent in the 10 years of the 1950s. Nevertheless, the agricultural sector wasn’t a total success because of the increase in unemployment in the sector. Another reason why the economic miracle wasn’t a total success was because Erhard’s implementation of the social market economy in 1948-9 did not immediately cause economic take off. The steep rise of prices which occurred was not matched by the rate of wage increases. This meant that the economic miracle wasn’t a total success because there was hardship for the poorer people in society as a result of prices rising at a faster rate than wages. Furthermore, the shortages of many resources, especially coal, led to a sharp increase in imports and a serious balance of payments deficit. This meant that the economic miracle wasn’t a total success because the German economy faced recession in 1949-50 because there was
A historic look back at Germany shows that after its fall in World War II, it needed a massive rebuilding in order regain its status that it once held. Various events took place that helped it re-climb the pedestal ladder. The year 1948 brought a currency reform that was the turning point for economic reform. There was a continuous economic growth each year for Western Germany, but the strict, conservative ways of East Germany’s communist rule still slowed true growth in the Gross Domestic Product (GDP). To make matters worse, the whole country experienced a significant drop in its GDP, causing a recession from 1976 through to 1985. There was a growth again for the next eight years before a major down ward spiral began in 1992. Germany’s early ‘90s spiral was attributed to the reunification of the country between 1989 and 1990. Once the two countries formed their one republic, the economy took its major tumble. Economists have figured this to be true because West Germany continued to evolve with industrial and technological breakthroughs and standards, while the communist East Germany adhered to traditional, unproductive ways that in some cases dated back to the 1940s and World War II times. So instead of combining to form an economic powerhouse, the GDP tumbled and caused a massive surge to restructure and work began to regain the decades of reform that were no longer noticeable.
the 4 years (from 1924) leading up to it to a head. This essay will
them make a full recovery but in the long run I don't think that they
Germany experienced a lot of economic changes after Germany was split into East Germany and West Germany. Initially, West Germany was established as a federal republic but was established as it’s own independent nation in 1955. Many events happened in West Germany from the 1950s to the 1980s before Germany became one nation again. There were events such as “oils price shocks, generous social programs, rising deficits and loss of control.” East Germany’s economy was strong due to the Soviet Union’s reliance on Eastern Germany’s production of machine tools, chemicals and electronics. It became appealing to reunite with West Germany when the value of East Germany’s currency became “worthless” outside of it’s country because Eastern Germany was relying on the Soviet Union’s demand (Marketline).
After the First World War Germany recognised her first ever democratic government, the Weimar republic lasted from 1918 – 1933 an astonishingly long time given its turbulent start. The November revolution saw the election of soldier and worker councils similar to that of the Russian revolution in 1917, it spread across Germany like wildfire and in turn split the country before a democracy could even be instated nevertheless on November 9th 1918 the German republic was established. From then on The Weimar Republic was set on unstable and insecure path and this is why it is one of Germanys most important historical periods; it was Germanys earliest form of non-imperial government and rule and its collapse in 1933 paved the way for the rise of Hitler and the Nazi party. For these reasons there have been endless works published on the Weimar republic and the outpouring of literature post world war two focuses on the collapse of the Weimar republic and how the Nazi party came to power. However, to understand why the debate surrounding the Golden Era in the Weimar Republic is an interesting one and lacking in historical works, it is key to examine the historiography of the Weimar republic as a whole. Furthermore, to understand why historians focus on other periods in the Weimar’s history in particular the consequences of the treaty of Versailles and the consequences of the Wall Street crash in 1928 which led to its collapse.
The country of Germany is one of the strongest economies in Europe as a whole. A brief history and overall status of this country is going to be explained giving examples and demographics. Along with my understanding of the information, I will try to help you understand the importance of this country’s overall macroeconomic stance that contributes to today’s wealth of the European Union.
Following the Second World War, Germany was rebuilt out of practically nothing into one of the richest countries of the world. This well-known transformation is known as the "Wirtschaftswunder" (wonder of economics). Yet in the recent reunification of West and East Germany, German leadership has ignored crucial lessons from this successful period of transformation. Three problems highlight this claim:
due to a couple of reasons. The most important one was the fact he was
The German Reunification failed in its attempt to bring the two Germanys together after being separated for nearly 45 years. The myriad of negative ramifications brought about by the Reunification only strengthened the divide between the East and West Germans. The devaluation of the East German mark and depopulation of East German cities, along with unemployment and poor living conditions, instigated discontent among the East Germans. West Germany’s “taking over” of East Germany in the act of Reunification induced a lopsided economy with its Eastern half still trying to catch up to its Western half, establishing the myth of German Reunification.
Fulbrook, Mary. A Concise History of Germany. 2nd ed. United Kingdom: Cambridge University Press, 2004. Print.
Until the second half of the nineteenth century Germany wasn’t the country we identify it to be nowadays, it was made up by a handful of states, each with different laws, currencies and trade barriers. The moment the Chancellor, Otto von Bismarck was in charge of policies, things started to change, he essentially created Germany. In 1948, unification started, and each state became part of a whole, with the same laws and currency, and most importantly, trade barriers were abolished. Consequently, trade between the states grew radically and boosted technological industrial growth. The government encouraged growth through adapted policies, in addition, German banks were created and were able to supply credit and investments to somehow stimulate the appearance of new businesses. Furthermore, as a consequence of the railway construction, coal extraction and iron manufacture reached their highest points in the nineteenth century. However Bismarck’s main aim was to protect the new Germany from wars with Russia and France, and the way he chose to achieve his goal was by engaging in a foreign policy manipulating game with the European powers: he tried to maintain good relations with Hungary and Russia and isolate France.
Princeton: Princeton University Press, 1969. Kitchen, Martin. A History of Modern Germany: 1800-2000. Oxford: Blackwell Publishing, 2006. Sprout, Otto.