Austro-Hungarian economy

Discussions on all aspects of Austria-Hungary. Hosted by Glenn Jewison.
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hauptmannn
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Post by hauptmannn » 04 Mar 2004 15:27

Do you have anymore interesting information? :)

I wonder why Austria-Hungary had an agriculture based economy, as opposed to France, United Kingdom and Germany who was much more industrialised, does any one have an idea why Austria-Hungary did not develop like the powers mentioned above?

Karl
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Post by Karl » 08 Mar 2004 23:50

Hi Hauptmann,

As far as I can tell, they did try to modernize, especially in the decades leading up to the twentieth century but it was too little too late. I think it was a case of complacency and resting on their laurels for far too long with the curious consequence being an Empire still in a bygone age fighting to survive in a modern one with many foes and many potential enemies. They also spent too much on their civil service and not enough on military and neglected the non-German provinces. Also, remember that A-H is a far different case from Germany or GB. They had so many different enthinc groups to deal with. I believe the mobilization order on the eve of WW1 went out in 15 different languages...

I guess what we can learn from empires like China and A-H, is if we do not constantly change and modernize we stagnate and are left behind.

Sorry I could not come up with anything better but I know there are far more knowledgeable posters around who hopefully will contribute more to this very interesting thread.

Karl

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hauptmannn
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Post by hauptmannn » 09 Mar 2004 11:01

Thanks Karl! :D
Interesting and welcomed information as usual :D
Thanks for giving me some idea, perhaps you could tell me the disparities in wealth and development between the German areas and non-German areas? How developed was Austria by itself?

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dead-cat
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Post by dead-cat » 09 Mar 2004 11:20

as it can be read at
http://www.uc3m.es/uc3m/dpto/HISEC/EHES ... hultze.pdf

the GDP/captia 1913 in 1990 Intl. $ is for:

Austria 2 222
Hungary 1 722

with an average growth/year (since 1870) of 1% for Austra and 1.3% for Hungary.

"Austria" includes Bohemia

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hauptmannn
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Post by hauptmannn » 09 Mar 2004 14:33

Wow thats is very informative, thank you! :)

Karl
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Post by Karl » 14 Mar 2004 01:22

hauptmannn wrote:Thanks for giving me some idea, perhaps you could tell me the disparities in wealth and development between the German areas and non-German areas? How developed was Austria by itself?


Hi Hauptmann,

Yes, there were large discrepancies in income in the German and non-German areas within A-H. For example, in 1910 73% of the population in Galicia and Bukovina were involved in agriculture compared to 55% in the Empire as a whole. There was huge disparity in wealth: per capita income in Lower Austria was 850 crowns and 761 Crowns in Bohemia compared with only 316 Crowns in Galicia, 310 in Bukovina and 264 in Dalmatia. Ironically, it was in these poverty stricken areas where the population growth was the fastest. This is why the per capita level of industrialization in A-H remained the lowest of the great powers.

This info is gleaned from the same source cited above.

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hauptmannn
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Post by hauptmannn » 15 Mar 2004 14:31

per capita income in Lower Austria was 850 crowns and 761 Crowns in Bohemia


Is that a high per capita income compared to other western countries?

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Gyenes
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Post by Gyenes » 15 Mar 2004 23:30

What is a crown valued at?

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dead-cat
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Post by dead-cat » 15 Mar 2004 23:47

that's the big question. those are Crowns at the 1913 value. i haven't found any exchange ratio yet (for 1913 pound sterling or reichsmark).

we can only try to relate them to 1990 US$.

Karl
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Post by Karl » 16 Mar 2004 00:22

I’ll find the damn things…

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Wulpe
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Post by Wulpe » 16 Mar 2004 08:23

Image

Metall- und Schwerindustrie: metal and heavy industry
wichtige Industriezonen: important industrial regions
Erzabbaugebiete: ore mining regions
Kohlebergbau: coal mining
bergbäuerliche Land- und Forstwirtschaft: mountain farming and forestry
vorwiegend Ackerbau: predominantly agricultural
vorwiegend Landwirtschaft: predominantly farming
extensive Viehzucht: extensive cattle-breeding

Karl
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Post by Karl » 16 Mar 2004 08:33

Well I’ve been through about six or seven different sources and this is all I could find:

1913

1 Crown = 1.5 Francs

I know I have it somewhere! :x

Where are the Glenns and Walters and other Austro-Aficionados on this? We need rescuing…

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Gyenes
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Post by Gyenes » 16 Mar 2004 22:56

I did find this. The crown was introduced in 1892.

But what really caugt my attention was this fact:

...the black-market rate on the dollar at the climax of Hungarian inflation of 1946= 4.6 x 10^30 pengös (a figure 10 trillion times as large as the number of seconds of estimated time elapsed since the "Big Bang" at the start of our universe.

"You would need a small train just to buy a loaf of bread!"

Karl
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Post by Karl » 17 Mar 2004 02:34

Actually it replaced the Florin in 1891 and was based on the gold standard.

So, no one has Franc conversion rates 1913?

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Gyenes
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Post by Gyenes » 19 Mar 2004 00:38

Yes, I read that it replaced a gold standard, but mentioned nothing of it's name. I think the conversion rate from the gold standard (Florian) to the Crown was 2:1 or near there. If I rember correctly...

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