FRG Economy -1966-72 - CDU

When was the CDU in gov FRG?

1966-72

1982-89

What party was in gov in FRG 1966-72?

CDU

What 3 crisis did the CDU gov of 1966-72 have to deal with?

1966-67 recession

Increase in social welfare spending

Loss of guest workers

What gov had to deal with the 1966-67 recession?

1966-72 CDU gov

Who was the CDU economy minister 1966-72?

Schiller

Who was Schiller?

CDU economics minister 1966-72

Who was chancellor of CDU gov 1966-72?

Erhard

How much was gov spending on social welfare by 1970?

DM115.9 million

When was gov spending DM115.9 million on social welfare?

1970

Guest worker numbers and why

1966: 1.3 million

1967: 991,000

most on one year renewable contracts

There was 1.3 million guest workers in 1966 but how many by 1967 and why?

991,000

most on one year renewable contracts

There was 991,000 guest workers by 1967 but how many was there in 1966?

1.3 million

4 ways CDU gov 1966-72 responded to 6

1966-67 recession

Schiller increased gov intervention in economy

Reintroduction of cartels

1967 Economic Stabilisation law

1968 provision to Basic Law allowing federal gov to move money around Lander

How did Schiller increase gov intervention in economy? (2)

Bundesbank managing money supply

Subsidies for agricultural + coal industry

2 industries Schiller gave subsidies to

Agricultural

Coal

What did Bundesbank do under Schiller?

Manage money supply

Why did Schiller reintroduce cartels?

Stop price rises

What did Schiller do to stop price rises?

Reintroduce cartels

Did Schiller reintroduce cartels and why?

Yes

To stop price rises

When was the Economic Stabilisation Law passed?

1967

What was the 1967 Economic Stabilisation Law? (2)

Allowed for gov intervention during economic crisis to limit regional spending

Introduced a 5 year plan for all gov spending

What law

Allowed for gov intervention during economic crisis to limit regional spending

Introduced a 5 year plan for all gov spending

1967 Economic Stabilisation Law

When was a provision added to Basic Law?

1968

What provision was added to the Basic Law in 1968?

Gov could move money b/t Lander to give more money to the less wealthy ones

What provision allowed

Gov could move money b/t Lander to give more money to the less wealthy ones

1968 provision to Basic Law

Overall success of 1966-72 FRG economy

Uneven recovery

Success of 1966-72 economy (2)

Exports stayed steady and ahead of imports

Boom conditions developed (profits rose + unemployment fell)

What positive conditions developed in FRG 1966-72 economy?

Boom conditions (rise in profits + fall of unemployment)

Failure of FRG economy 1966-72

Schiller's policies seen as failures and he was replaced by Schmidt in 72

Who was Schiller replaced by and when?

Schmidt

1972

Were Schiller's policies seen as effective?

No

Seen as failures so he got replaced by Schmidt 1972