Economic Policy Flashcards
What was unemployment in 1933 versus 1935?
1933- 6 million
1935- 2 million
What was the Reich Labour Service?
In 1935, young unemployed men were compelled to do six months’ labour in farming or construction. Later that year, military conscription was re-introduced for young men.
How many people were directly employed in the Autobahn programme in 1934?
38,000
How many were employed in the Autobahn programme in 1936?
125,000
When did Autobahn construction stop?
1942
How did Schacht increase exports?
He initiated a series of trade agreements with states in the Balkans and South America, whereby Germany was supplied with food and raw materials, which were paid for in German Reichsmarks. The supplying countries could then only use this money to purchase German goods.
What were MEFO Bills?
These were exchanged for cash at the Reichsbank, but companies were given an incentive to defer asking for repayment by the offer of 4% per annum interest on the bills should they keep them for the full five year period.
What was the Four Year Plan?
It sought to achieve economic autarky by created a managed economy with controls on prices, raw materials and foreign exchange; setting production targets for private companies; establishing new state-owned industrial plants; and increasing production of key commodities, such as iron.
What fraction of raw materials did Germany import in 1939?
1/3
Why was unemployment higher than stated?
Married women were forced to surrender their employment; reintroduction of conscription in 1935 for 18-25 year-olds took a large proportion of males out of the labour market; statistical devices were used to inflate the figures. Invisible employment was as high as 1.5 million.
