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PAX, LUX ET VERITAS SINCE 1965
Post Economy of Nazi Germany
Created by John Eipper on 07/20/17 2:24 PM

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Economy of Nazi Germany (Tor Guimaraes, USA, 07/20/17 2:24 pm)

Eugenio Battaglia (20 July) stated, "Nazi Germany was not a capitalist regime, but rather an example of national (not Marxist) socialism." 

Nazi Germany was a hybrid system, a one-party socialist dictatorship with some major private capitalist entities (companies).

No one can deny that compared to the situation after WWI, the Nazis after the early ideological cleansing which was pretty ugly, took much better care of German working class. In my opinion, once the shooting for WWII started, German social economics started to deteriorate and measurement of productivity became exceedingly difficult due to military conscription (more untrained women to the production lines) and widespread slave labor. Also, stolen raw materials must have been helpful, but war activity took a heavy toll.

One of the most impressive performances from Nazi Germany, and to a lesser extent Tojo's Japan, were some of the advanced weapons systems developed under fire: jet fighter, new tanks, V1 and V2 rockets, new submarines. If the jet, the V2 and the new submarines had been more fully deployed, we might all be speaking German today despite Hitler's strategic stupidity invading Poland and starting WWII prematurely, Barbarossa, declaring war on the US, etc.

Further, thank God Hitler's megalomania wasted huge amounts of German energy and raw materials (labor, cement, steel, etc.) in the Channel Islands, the Siegfried Line, the huge battleships, etc.

JE comments:  I'm still curious about Nazi Germany's central bank.  How exactly did its currency work?  Was the Reichsmark ever a convertible currency?


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