The golden age

• The Golden Age of Weimar 


  1924-1928
• Gustav Stresemann


  Responsible for most of the developments that took Germany in a positive direction during the Golden Age of weimar
• Removal of the Reichsmark and introduction of the Rentenmark


  1. Rentenmark had slight inflation but was much better than the Reichsmark which had hyperinflation (1 USD = 50 billion Reichsmarks)

  2. New currency helped balance the economy and overcome the hyperinflation crisis

  3. Successful due to the skill of Finance Minister Hans Luther
• The Dawes Plan


  1. Committee chaired by American economist Charles Dawes in April 1924

  2. Submitted recommendations on Germany's reparation payments

  3. Germany to make annual payments of 1 billion marks in the first 5 years, rising to 2.5 billion marks after 5 years
• The Young Plan


  1. Committee chaired by American economist Owen Young in February 1929

  2. Final plan for reparations - Germany to pay 2 billion Rentenmarks per year for 59 years

  3. Allies to control Germany's railways until reparations completed
• The Dawes and Young Plans were seen as a more manageable way to deal with the Treaty of Versailles reparations rather than just printing money and causing hyperinflation
• Economic development between 1924-1929

  • Monetary stability
  • Influx of foreign capital (25.5 billion marks)
  • Industrial production levels reached 1913 pre-war standards by 1928
  • Trade increased with German exports rising to 40%
  • Hourly wages rose in real terms every year 1924-1929
  • Compulsory unemployment insurance covered 17 million workers
• Criticisms of the economic development 1924-1929


  • Unemployment never fell below 1.3 million
  • Increased government intervention in the labour market
  • German imports exceeded exports
  • Collapsing world food prices resulted in widespread rural poverty
• Overall, there was economic development during the Golden Age of weimar, but not to the same extent as is often claimed - there were still significant problems
• German society was more diverse than any other Society in Europe
• Composition of German society

  • Economic elite (around 5% of population)
  • Middle class (around 33% of population - doctors, lawyers, professionals, professors)
  • Wide-ranging working class (around 50% of population)
• Role of women in German society

  • Media spread the idea of the 'new woman' - progressive ideas around women
  • Women gained equal rights under the Weimar constitution in 1919
  • More women found work in new occupations, especially in public employment
  • Young women spent time in sports clubs and had leisure time
  • Greater wave of sexual independence among women
• The proportion of women who worked outside the home during the 1920s remained the same as pre-1914 numbers
• There were still very conservative views about women in society
• Education system reforms


  • Left-wing critics wanted to break down religious barriers and end the 'virtual monopoly' of the elite and middle classes on secondary grammar schools and universities
  • They wanted to develop a more democratic consciousness among teachers
• The majority of schools still remained about the religious and most secondary school teachers and university lecturers still remained conservative and anti-democratic
• Only 10% of secondary school pupils were from working-class families in 1930
• Social reform was relatively limited in its scope