Podcast
Questions and Answers
What was one of the defining features of the Nazis' economics?
What was one of the defining features of the Nazis' economics?
State investment and control of industry.
What were the Nazis' aims in implementing state investment?
What were the Nazis' aims in implementing state investment?
To stimulate demand for goods, expand income, and lift Germany out of economic recession.
What were the work-creation schemes and why were they heavily invested in?
What were the work-creation schemes and why were they heavily invested in?
Projects that required large amounts of labor, such as construction of schools, hospitals, and roads. They were heavily invested in to reduce unemployment.
What was the significance of the announcement of the first work creation program in 1933?
What was the significance of the announcement of the first work creation program in 1933?
What was the purpose of Schacht's 'New Plan'?
What was the purpose of Schacht's 'New Plan'?
What is autarky and why did Germany aim to achieve it?
What is autarky and why did Germany aim to achieve it?
What was the rationale behind the concept of autarky in Germany?
What was the rationale behind the concept of autarky in Germany?
What was the purpose of the construction of the Autobahn system?
What was the purpose of the construction of the Autobahn system?
What impact did the work creation schemes have on the number of unemployed individuals?
What impact did the work creation schemes have on the number of unemployed individuals?
What were the limitations faced by those 'employed' through the work-creation schemes?
What were the limitations faced by those 'employed' through the work-creation schemes?
What was the significance of achieving autarky for Germany in the context of the First World War?
What was the significance of achieving autarky for Germany in the context of the First World War?
What were the Nazis' main economic goals when they entered government in 1933?
What were the Nazis' main economic goals when they entered government in 1933?
How did the Nazis initially seek to achieve economic stability?
How did the Nazis initially seek to achieve economic stability?
Who did the Nazis appoint as President of the Reichsbank on 17 March 1933, and what was his previous experience?
Who did the Nazis appoint as President of the Reichsbank on 17 March 1933, and what was his previous experience?
What position was Hjalmar Schacht also given in 1934, and how did this reassure the business community?
What position was Hjalmar Schacht also given in 1934, and how did this reassure the business community?
What were the initial actions taken by the Nazis to calm fears within the business community regarding economic reforms?
What were the initial actions taken by the Nazis to calm fears within the business community regarding economic reforms?
How did the Nazis' actions benefit business interests in the early years following their election?
How did the Nazis' actions benefit business interests in the early years following their election?
What was the Nazis' approach to achieving their economic goals in the first few years following their election?
What was the Nazis' approach to achieving their economic goals in the first few years following their election?
What impact did the appointment of Hjalmar Schacht have on the business community's perception of future economic changes?
What impact did the appointment of Hjalmar Schacht have on the business community's perception of future economic changes?
What was the significance of the Nazis' appointment of Hjalmar Schacht as President of the Reichsbank?
What was the significance of the Nazis' appointment of Hjalmar Schacht as President of the Reichsbank?
How did the Nazis address fears within the business community regarding potential radical economic reforms?
How did the Nazis address fears within the business community regarding potential radical economic reforms?
What were the economic outcomes that the Nazis wanted to achieve?
What were the economic outcomes that the Nazis wanted to achieve?
What were the Nazis' first actions towards achieving economic stability?
What were the Nazis' first actions towards achieving economic stability?
Who did the Nazis appoint as President of the Reichsbank in 1933 to appease the business community?
Who did the Nazis appoint as President of the Reichsbank in 1933 to appease the business community?
What position was Hjalmar Schacht also appointed to in 1934?
What position was Hjalmar Schacht also appointed to in 1934?
What did the appointment of Hjalmar Schacht help to create among the business community?
What did the appointment of Hjalmar Schacht help to create among the business community?
What did the Nazis view as a foundation to their future ideological goals?
What did the Nazis view as a foundation to their future ideological goals?
What did the Nazis lack when they entered government in 1933 with regards to economics?
What did the Nazis lack when they entered government in 1933 with regards to economics?
How did the Nazis try to calm fears within the business community about radical economic reforms?
How did the Nazis try to calm fears within the business community about radical economic reforms?
How did the ban on trade unions and freezing of workers wage rates benefit business interests?
How did the ban on trade unions and freezing of workers wage rates benefit business interests?
What had Hjalmar Schacht previously helped to do for Germany in 1923?
What had Hjalmar Schacht previously helped to do for Germany in 1923?
What crisis did Hjalmar Schacht help to revive Germany from in 1923?
What crisis did Hjalmar Schacht help to revive Germany from in 1923?
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Study Notes
Nazi Economic Goals
- The Nazis aimed to achieve economic stability, end unemployment, and autarky (economic self-sufficiency) through their economic policies.
Initial Economic Measures
- Banned trade unions and froze workers' wage rates to benefit business interests and prevent lobbying for fairer conditions.
- Appointed Hjalmar Schacht, a respected banker, as President of the Reichsbank to reassure the business community.
State Investment
- Expanded and refined the Weimar Republic's policies of state investment in public projects and businesses to stimulate demand and expand income.
- State investment allowed the Nazi state to gradually take control of industry, applying this policy across various high-employment areas, including agriculture and small businesses.
Work-Creation Schemes
- Invested heavily in projects requiring large amounts of labor, such as constructing schools, hospitals, and roads, to reduce unemployment.
- The first program, announced on June 1, 1933, allocated one billion Reichsmark for large-scale public works.
- Famous projects included the construction of the Autobahn system, which created work for over 80,000 men.
- These schemes were successful in reducing unemployment, but workers had limited choices over their work, pay, and location.
Autarky and the 'New Plan'
- Schacht's 'New Plan' (September 1934) promoted autarky, aiming to remove dependence on foreign investment, imports, and trade.
- Autarky would make Germany less vulnerable to global economic fluctuations and more capable of sustaining a long war, avoiding the shortages experienced during World War I.
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