German Economic Development

Paper Summary:

The paper discusses the impact of the unification of the monetary system on post-1870 German economic development. The paper offers an overview of the 19th century historical perspectives and discusses the introduction of Zollverein and the subsequent unification of the 33 German states. Furthermore, the paper talks about the period of depression and the inflation that ensued. The paper also provides a brief comparison of the unification of 1870 with the establishing of the European Union.

From the Paper:

"Germany in the nineteenth century was a regionally divided and economically "backward" country, lagging behind Britain in economic development and stability. Part of the problem was in the fact that "political fragmentation was replicated in the economic sphere by the persistence of separate islands of economic activity" (W.R.Lee, 346). The extreme diversification according to the regional economic activity was prevalent and there are two central factors that affected regional development dynamic."

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