Nazi Economic Policy

Nazi economic aims and plans

Schacht's New Plan (1934-36)

• Reduce unemployment

• Reduce the trade deficit by limiting the number of imports from abroad and encourage people to buy local goods 

• Increase the industrial output and the number of raw materials that are produced 

• Increase the amount the government spends on supporting local industries

• Improve the living standard of the working class

Goering's Four Year Plan (1936-39)

• Reduce unemployment

• Make Germany an autarky

• Increase production and industrial output

• Make Germany ready for war and spend more on rearmament

Economic policies towards big business, the middle classes, farmers and workers

For Businesses

◦ Government invested in a wide range of industries.

         --> Production increased

         --> Government invested 20 billion more German Marks.

- However, the Government began to create more debts.

For workers

◦ As the Government invested in a wide range of industries.

         --> More jobs were needed to fulfil supply demand

         --> Wages slowly increased from 85 to 105 over six years.

- Diets of working class families poorer quality as they couldn't afford meat, wheat bread, dairy or beer due to less imports

For farmers

◦ Germany encouraged people to buy local produce.

         --> Increased tax on imports.

         --> Made local goods more preferable.

- This made the diets of working class families poorer quality as they couldn't afford meat, wheat bread, dairy or beer

The successes and failures of Nazi economic policies