By R. J. Overy
ISBN-10: 0333311191
ISBN-13: 9780333311196
ISBN-10: 1349059382
ISBN-13: 9781349059386
This can be a absolutely revised and up-to-date variation of R.J. Overy's very popular survey of the Nazi financial restoration (first released by way of Macmillan in 1982). The functionality of the German economic climate below the Nazi regime has been the topic of severe educational debate. Overy discusses the most components of this debate, arguing that the conflict practise that happened at the present was once finally incompatible with long term financial restoration, and that the German financial miracle didn't take place till after 1945.
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Extra info for The Nazi Economic Recovery 1932–1938
Example text
3 per cent, a quarter of the levels achieved in the 1950s. This was partly due to the labour-intensive nature of many of the revival policies, and partly to the absence of a sufficient pressure on firms to improve methods, in the form either of vigorous consumer demand or of higher profits, both of which were restricted by the state. Because of the nature of government controls and numerous government contracts, there was less incentive to be competitive or efficient. Firms that did make higher profits found themselves subject to speciallevies and taxes.
The secret behind the Nazi economic revival was not merely proto-Keynesian spending policies but the whole 'package' of controls, all of them interdependent, all of them necessary to achieve what the Nazis wanted out ofthe economy. Without such a 'package' the economy might not 40 have recovered to the extent that it did or in the way that Hitler' s future war plans dictated. State intervention meant attacking the problems of the economy on a broad front and not at one particular point. The central feature of Nazi policy was, nevertheless, a programme of government spending and public investment designed to stimulate demand and expand income.
Changing relationship between consumer-goods and capital-goods production between 1933 and 1938. The second important feature is the high level of government expenditure. The main explanation for increases in demand lies with the increase in public investment and policies designed directly or indirectly to stimulate demand. How much effect such policies had will be discussed in greater detail in 31 Chapter 4. Government policies, particularly for construction and rearmament expenditure, were also responsible for shifting the emphasis of growth from consumer industries to the other major sectors of the economy.
The Nazi Economic Recovery 1932–1938 by R. J. Overy
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