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[O] History(Elect) Smart Guides

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  1. Unit 1: The World in Crisis

    1. Impact of World War I in Europe
    14 Topics
  2. 2. Stalin's Soviet Union
    12 Topics
  3. 3. Hitler's Germany
    27 Topics
  4. 4. Outbreak WWII in Europe
    13 Topics
  5. 5. Germany's Defeat in World War II
    21 Topics
  6. 6. Outbreak War in Asia Pacific
    6 Topics
  7. 7. Japan's Defeat
    10 Topics
  8. Unit 2: Bi-Polarity and the Cold War
    8. Reasons for the Cold War in Europe
    21 Topics
  9. 9. The Korean War
    19 Topics
  10. 10. Cuban Missile Crisis
    25 Topics
  11. 11. The End of Cold War
    19 Topics
Chapter 3, Topic 17
In Progress

Economic Impact of Hitler’s Ruling (Rise of Big Industrialists)

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ECONOMIC IMPACT

Rise of big industrialists

• Big businesses developed a close relationship with the Nazi government as a result of the Nazi attempts to make Germany self-sufficient.

  • Under the New Plan of 1934, industries important to Germany were subsidised & imports were barred. Production of important products such as oil, steel, coal and explosives increased.
  • Companies that produced these were given valuable government contacts to make these items. In return, they supported the government.

• A ban on trade unions also helped the big businesses as employers no longer had to worry about conflict with workers; workers were under strict control of the government.
• Goering’s Four-Year Plan (1936), which aimed to prepare Germany for war in 4 years, also had impact on the big businesses.

  • The massive amounts spent on rearmament boosted the incomes of companies involved in the production of war materials. In return, these big companies made donations to the Nazi Party.
  • Thus, these big industrialists thrived & their production contributed to the boost in economy; the Nazis also did not have to be concerned about Party’s finances while strengthening their power.