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

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.