Innovation Article

Swedish Economic Development - Spiel 7

The twenties

United States altered from for being an IMPORTER of capital for an EXPORTER

First half of the 1920s was wanting to produce Germany shell out. Germany's level of resistance resulted in excitable inflation in Deutschland. USA's solution � The Dawes plan(1924) loans to financial the the german language reparations; sent thru int finance sites (kreuger) In Sweden, Kreuger borrowed money directly from stock market

European govts deeply indebt.

** initially half of the 1920s was wishing to make Philippines pay. Germany's resistance led to hyper pumpiing in Deutschland

The Great Major depression

Stock exchange fell from 200 – 35

Fall in px of farming products and unprocessed trash

Result� This triggered protectionism

Community trade chop down by fifty percent from 1929 to 1932

The smoot-harley triff (June 1930)

Financial Crises

Credit –anstaly (Austria) 1931� resulted in a large number of eastern european countries defaulting as a result of old connections to the Hapsburgs; The Greuger affair (Sweden) 1932

Sweden in the 1930s

Unemployment in Sweden was less but not affected so greatly.

WHY? �

How come wasn't Sweden so severly hurt by Great dep?

She was a late comer and hence less deeply associated with coal-steel complicated as many additional countries

Swedish industrialization was depending on the GPTs of the second industrialization

Sweden was more linked to tecg through the second extremes revolution � diminishing results?? huh

Essentially latecomer � even more involved in second industralisation � industries certainly not that affected

For what reason did Laxa, sweden recover relatively quickly?

Expansive Monetary policy

Keynesian idea was introduced � the Keynesian notion of INJECTIONS � Subsidies fror the arcadian sector.

Diff between Keynesian and neoclassic � if we increase the cash � more resources will be available.

Expansive budgetary Policy

Sweden followed Britain off the gold standard in 1931 = depreciation from the krona

** KRONA was also undervalued

Why would these policy not result in inflation then? Because of.. 1 ) Flexibility of labour

2 . Favourable work market organization � Frontrunners of the control unions stagnated demands pertaining to higher salary � wages were held back and increased expense Notes

After the depreciation from the krona continued to be undervalued, (Good institution keeping it undervalued and stepping off the gold standard)

Swedish firms had been competitive in foreign and domestic market segments

Demand for Swedish foreign trade was value elastic (aha! Exchange level trumps it) = increase in export amount Iron ore and steel (Germany)

Pulp and conventional paper (GB)

Market factors

Baby boom inside the 1910s

Household formation boosted demand

Urbanisation shows a circulation of work from subsistience to salary related ( money to spend)


New expansion blocks and new production

Strategy related to infrastructure development depending on GPTs in the second Indus revolution Internal combustion � Locomotive

Little electric engine � for example. In Swedish railways

Transport network was developed

Fordism and devices of subcontracting was as well prevelant

Development of the electricity block

The interwar period

The south and north were connected right into a national distribution period (South had a above demand/ north had a oversupply) The increase use of Single motor (unit drive) in remarkably mechanized industries � rates fell about 1940s Electrification of railways

Electrification of the people (single electric motor in home appliances)ie. Washing machines.

Transformation 1935 – 1955

Institutional modify – development of the Swedish model

Elements: Condition; capital; labour

Big govt big capital big union

The interpersonal democrats in govt 1932 – 1976

" the strong economy”

Macro economical management

Factor marketplace management

Labour market institutions

Capital development: administered low interest rate and capital marketplace regulation Stabilisation...

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