Nazi Economic Miracle Flashcards
(17 cards)
What was the main focus of Nazi economic policy by 1939?
Economic revival and military preparation
The Nazi economic policy aimed at achieving self-sufficiency and military readiness.
Who were key industrial elites that supported the Nazi takeover?
Fritz Thyssen and Alfred Hugenberg
These industrialists played significant roles in supporting the Nazis during their rise to power.
What were some early beneficial policies of the Nazis for industrial elites?
- Banning Labour Unions
- Political stability
- Economic revival
Who was Hjalmar Schacht?
President of the Reichsbank and Economics Minister from August 1934
Schacht was instrumental in implementing economic reforms during the Nazi regime.
What was the purpose of the ‘New Plan’ introduced by Schacht in 1934?
To control foreign trade and improve payment balance
The plan aimed to address the imbalance between imports and exports.
What was the MEFO Bill?
A financial tool to fund military expenditure via credit notes
It allowed the Nazis to avoid direct government borrowing for rearmament.
What concept does autarky refer to?
Self-sufficiency in food and raw materials
Autarky was aimed at preparing Germany for war and promoting national pride.
What was the main goal of the ‘Four Year Plan’ initiated in 1936?
To make Germany war-ready in four years
The plan included controls on labor supply, prices, and raw materials.
What was the impact of the Four Year Plan on I.G. Farben’s profits?
Profits increased from 71 million to 240 million Reichsmarks
I.G. Farben was a major beneficiary of the Nazi economic policies.
What was a significant failure of the Four Year Plan by 1939?
33% of raw materials were still imported
This indicated that Germany was not self-sufficient as claimed.
True or False: The Nazi Economic Miracle was fully realized by 1939.
False
The idea of an economic miracle was largely a propaganda myth, with many underlying issues.
Fill in the blank: The Nazis blamed _______ for negative articles written about Germany.
Jews
What was one of the negative outcomes of the autarky policy?
Lower quality goods produced
The push for self-sufficiency led to compromises in product quality.
Who was the largest industrial enterprise in Europe by 1939?
Hermann Goering Steelworks
This enterprise replaced other firms that were reluctant to invest.
What was the aim of propaganda regarding the Four Year Plan?
To promote the success of the plan despite its failures
The regime used propaganda to maintain public support and morale.
What were the two main groups identified as winners and losers of the Four Year Plan?
- Winners: I.G. Farben
- Losers: Ruhr Valley Iron and Steel Firms
What was one of the key practices promoted under autarky?
Collecting scrap metal from homes and public spaces
This was part of the effort to recycle materials for war production.
