Economics
Like most of the northern part of the present Märkischer Kreis, Hemer has a long industrial history. The most important industries in the beginning of the 20th century were wire production and wire manufacturing industries, but also rolling mills, foundries and machine production. Paper production was already declining at that time. In 1927 Hemer and Ihmert together had 27 wire factories - 23.7% of all wire factories in Germany at that time. However, as the factories were rather small the percentage is much less impressive when compared by number of employees.
During the Great Depression as well as in the final part of World War II many companies went into bankruptcy, but even today the industrial sector is above average in Hemer. The worldwide known fittings producers Grohe and Keuco are based in Hemer.
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Famous quotes containing the word economics:
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—Paula Nelson (b. 1945)
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“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)