economic policy Flashcards
What was the New Plan?
A plan to get Germany out of economic depression.
what is autarky?
an economic system of self-sufficiency and limited trade
When was Schats New Plan introduced?
September 1934
What were Mefo bills?
Mefo bills - guaranteed by the government as payment for goods and earned 4% interest per annum - these served to disguise government spending.
What had unemployment fallen to by 1936?
2.1 million
Schats New Plan was quite successful in stabilising the economy, how much had gross national product grown by?
40%
did Germany become fully self-sufficient by 1939?
Germany did not become fully self-sufficient - By 1939, 15 percent of food supplies were still being imported.
when did Schat resign and Goring full take over?
November 1937
When did the four year plan start?
1936
What was the four year plan?
‘German economy must by fit for war within four years’
Wanted to regulate imports and exports, control the labour force and increase production of raw materials
What was the planned amount of oil production and what was the actual production amount in 1938?
Oil production was planned to be at 13,830 thousand tonnes by 1940, yet in 1938, it had only reached 2,340 thousand tonnes.
What were the success and failures of the four year plan?
Success - Production of key materials, e.g aluminium and explosives, expanded greatly
Failure - production of vital commodities e.g rubber and oil fell short of targets, and arms production never reached desired levels
Success - Germany’s reliance on foreign imports had not increased
Failure - when war broke out Germany was still reliant on foreign suppliers for 1/3rd of its raw materials
objectives of the four year plan
objectives of the four year plan - To regulate imports and exports To control the key sectors of the labour force To increase production of raw materials To develop ersatz (substitute products) To increase agricultural production
When war broke out how much was Germany still reliant on foreign suppliers?
1/3rd of its raw materials
What was the sole economic economic policy of the Nazi party from 1942?
War
