22 Questions
What were the outcomes the Nazis wanted to achieve through economics?
Economic stability, an end to unemployment, and Autarky
How did the Nazis initially seek to achieve economic stability?
Banning trade unions and freezing workers' wage rates
Who did the Nazis appoint as President of the Reichsbank in 1933 to reassure the business community?
Hjalmar Schacht, a respected banker
What impact did banning trade unions and freezing workers' wage rates have on business interests?
They greatly benefitted business interests
What role did Hjalmar Schacht take on in 1934?
Minister for Economics
What did the Nazis prioritize as their first goal in economics?
Economic stability
How did the Nazis aim to achieve Autarky?
By reducing reliance on imports and developing domestic resources
What was the significance of appointing Hjalmar Schacht as President of the Reichsbank?
It reassured the business community of continuity and no radical changes
What did the Nazis do to calm fears within the business community?
They made it clear that they first sought to achieve economic stability
What did the Nazis ban as part of their initial actions towards economic stability?
Trade unions
How did the appointment of Hjalmar Schacht impact the business community?
It reassured the business community that no radical changes were imminent
What was one of the defining features of the Nazis' economics?
State investment in public projects and businesses
What was the primary goal of state investment according to the Nazis?
Stimulate demand for goods and expand income
What was the purpose of the work-creation schemes initiated by the Nazis?
To reduce unemployment and stimulate the economy
What was the concept promoted by Schacht's 'New Plan' in September 1934?
Autarky
What was the purpose of achieving autarky according to the Nazis?
To make Germany less vulnerable to fluctuations in the world’s economic situation
What was the main focus of the state investment and control policy of the Nazis?
High-employment areas from agriculture to small businesses
What was the primary goal of the Nazis' policy of increasing state investment?
Lift Germany out of economic recession
What did the Nazis heavily invest in to reduce unemployment?
Projects that would require large amounts of labor
What was the concept of autarky promoted by Schacht's 'New Plan' in September 1934?
Economic self-sufficiency
What was the purpose of achieving autarky according to the Nazis?
To make Germany less vulnerable to fluctuations in the world’s economic situation
What was one of the defining features of the Nazis' economics?
State investment in public projects and businesses
Study Notes
Nazi Economic Objectives
- The Nazis' primary goal in economics was to achieve autarky, or economic self-sufficiency.
Initial Economic Reforms
- The Nazis initially sought to achieve economic stability by banning trade unions and freezing workers' wage rates, which benefited business interests.
- In 1933, the Nazis appointed Hjalmar Schacht as President of the Reichsbank to reassure the business community and calm their fears.
Hjalmar Schacht's Role
- In 1934, Hjalmar Schacht took on the role of Economics Minister, promoting his 'New Plan' which aimed to achieve autarky through state investment and control.
Achieving Autarky
- The Nazis aimed to achieve autarky through state investment in infrastructure, such as roads and public buildings, and increasing state control over the economy.
Nazi Economic Policies
- The Nazis prioritized state investment, with the primary goal of reducing unemployment, and invested heavily in infrastructure projects, such as roads and public buildings.
- The Nazis' work-creation schemes aimed to provide jobs and stimulate economic growth.
- The main focus of the state investment and control policy was to achieve autarky and reduce dependence on foreign trade.
Defining Features of Nazi Economics
- One of the defining features of the Nazis' economics was the emphasis on state investment and control over the economy.
Test your knowledge of Nazi economic policies and goals with this quiz. Explore how the Nazis aimed to achieve economic stability, end unemployment, and pursue autarky. Delve into the economic strategies and outcomes of the Nazi regime in the 1930s.
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