2) The Nazi Economy Flashcards
During 1932 what did the nazis decide to do?
Consider more specific policies
What was essential from the very beginning?
Dealing with unemployment
What was the policy of self suffieciency?
The policy of Autarky
What did the policy of AUTarky entail?
It entailed the creation of a large trading or economic community which could be developed to rival other great economic powers
Which idea was expressed by the British economist Keynes?
The idea of deficit financing
What did deficit financing mean?
It meant that by spending money on public works, jobs would be created which would act as an artificial stimulus to demands within the economy
What was the the idea of a defence economy?
Wehrwirtschaft
What did Wehrwritschaft mean?
It means that Germany’s peace time economy was geared to the demands of total war, do as to avoid repetition of the problems faced during the first world was
What does total war mean?
It involved the whole population in war economically and militarily
Name three points of the 25 points programme
- The nationalisation of all businesses
- Extensive development of insurance for old age
- Profit sharing in large industrial enterprises
In the early years who was the nazi economic policy controlled by?
Hjalmar Schacht
Under Schacht’s leadership and guidance what was government money invested in?
Public works such as constructing autobahns
During the first three years of nazi regime, where was investment directed?
It was directed towards work creation schemes such as the crestion of a labour service
Unique methods were introduced to finance rearmament. Name one.
Mefo bills (credit notes)
What new company did Schacht establish?
Metallurgische Forschung
