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- Title
Making profits in wartime: corporate profits, inequality, and GDP in Germany during the First World War.
- Authors
BATEN, JOERG; SCHULZ, RAINER
- Abstract
Making profits in wartime: corporate profits, inequality, and GDP in Germany during the First World War. This article reconsiders, and rejects, Kocka's (1973) hypothesis that a strong income redistribution from workers to capital owners occurred in Germany during the First World War. A small number of firms profited from the war, but the majority experienced a decline in real income, similar to the decline in workers' real wages. This finding also has important implications for the political history of the Weimar Republic. The authors also use their figures to improve German GDP estimates for the war period, since their sample makes it possible to estimate private service sector development. Economic indicators were worse for the war year of 1917 than previously believed.
- Subjects
GERMANY; PROFIT; GROSS domestic product; WORLD War I; EQUALITY
- Publication
Economic History Review, 2005, Vol 58, Issue 1, p34
- ISSN
0013-0117
- Publication type
Article
- DOI
10.1111/j.1468-0289.2005.00297.x