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| Topic: |
History
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| Number of pages / Number of words: |
2 / 556 |
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Passenger traffic developed very fast with the growth of Budapest as a railway junction. The building of these railways benefited the iron industry and manufacture of machinery, and guaranteed employment for many people.
The food industry reached a leading position in Europe, so did gradually the coal and iron production and the textile industry...
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Hungary wasn't an economically exploited country that depended on Austria, but as it was modernized it had to adapt to the Monarchy's conditions and accept the setback in its socio-economic transformation. In 1914 Hungary couldn't fill the gap with the western industrial nations it was very close to the changeover from an agrarian based economy to an industrial nation...
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