Nazi Economic Policy - Costs & Benefits
History: KS3, topic 18.2.7
Nazi Economic Policy - Costs and Benefits
Self-sufficiency (autarky), Rearmament and Employment were the main focuses of German economic policy.
German businesses
- Overall, large business owners and farmers benefitted the most.
- Large businesses benefitted from investment and new opportunities in rearmament (building up supply of military weapons).
- Large businesses could exploit (treat unfairly for others’ benefit) workers because the Nazis had got rid of trade unions.
German workers and farmers
- Unemployment was reduced from 5 million in 1933 to 0.3 million in 1939.
- The average weekly wage rose by around 25% between 1932 and 1939.
- Work creation schemes improved transport, services and homes.
- Some farmers received a higher income from increasing food prices and subsidies.
Costs of Nazi economic policy
- While the Nazis emphasised that the average worker’s life improved, the workers probably didn’t see much difference in day to day life.
- The cost of food increased. This meant they did not feel the increase in wages.
- Working hours increased from 1936 onwards.
- If a worker complained about working conditions, they would be ‘blacklisted’. This means they would struggle to find employment.
- The four-year plan led to food shortages.
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Under the Nazi economic policy...