Between 1919-23, Germany faced chaos and instability. But, 1924-29 was seen as a 'Golden Age', marked by:

• Economic progress
• Political stability
• Social and cultural advances
• International acceptance

🔑 Key Figure: Gustav Stresemann, instrumental in Germany’s recovery.

• Stresemann's Economic Measures (1923-24): Set foundation for recovery.
• American Loans & Dawes Plan: Modernized German industry.
• Creation of Cartels: Bigger purchasing power than smaller industries.
• Growth of 'New' Industries: Like chemicals, cars, and aeroplanes.
• Export Boost: 40% rise between 1925 and 1929.
• Rising Wages: Improved living standards.
• Government Initiatives: Pensions, sickness and unemployment benefits, and state subsidies for housing, schools, etc.

• Persistent unemployment (never below 1.3 million).
• Uneven economic growth.
• Imports > Exports.
• Professional middle classes left out of 'boom'.
• Farmers suffered from global agricultural depression & low food prices.
• Increase in bankruptcies in late 1920s.
• Government deficits persisted.

🌍 Real-world example: Imagine balancing on a seesaw, with one side heavier (e.g., imports). No matter how hard you push (e.g., government efforts), the balance is off. That's how the Weimar economy felt.