Economic Impact of Hitler’s Ruling (Re-employment)

ECONOMIC IMPACT

• Under the Nazi leadership, Germany’s economy recovered and appeared to be more stable as compared to the situation under the Weimar government.
• However, the recovery came at a price as the state spent more than it earned, and controlled many things, such as prices, wages and workers’ right to strike.

Re-employment

• In 1933, there were over 5 million unemployed people and a major crisis in the farming sector.
• Dr. Hjalmar Schacht, President of the Reichsbank and Minister of Economics, helped to reorganise Germany’s finances so that new jobs could be provided.

• Schacht encouraged Hitler to initiate public works programmes such as the building of roads, motorways (Autobahnen) and public buildings.
• The Nazis involved the Reich Labour Service, an agency to reduce unemployment.
• This reform reduced unemployment while also providing infrastructure & facilities for the public.