Hitler and the economy?

Question

How did Hitler help the economy?

Answer 1

Whose Econony ???? Hitler left Germany in ruins. Hitler left Britain in ruins - - - the only country to make out financially was the USA and a lot of that was due to the brilliance of America's financial leaders who figured out how to manage a multi-billion dollar war.
Hitler had no economic sence leaving the boring mundane details to a brilliant but flawed individual named Hjalmer Schacht - - -


Hjalmar Schacht
From Wikipedia, the free encyclopedia
Dr. Hjalmar Horace Greeley Schacht Dr. Hjalmar Horace Greeley Schacht (22 January 1877 – 3 June 1970) was a German financial expert and Minister of Economics from 1935 until 1937.
Education and rise to President of the Reichsbank
Schacht was born in Tingleff, Imperial Germany (now in Denmark) to William Leonhard Ludwig Maximillian Schacht and Danish baroness Constanze Justine Sophie von Eggers. His parents, who had spent years in the United States, originally decided on the name Horace Greeley Schacht, in honor of the American journalist Horace Greeley. However they yielded to the insistence of the Schacht family grandmother, who firmly believed the child's given name should be Danish. Schacht studied medicine, philology and political science before earning a doctorate in economics in 1899. In 1905, while on a business trip to America with board members of Dresdner Bank, Schacht met the famous American banker J. P. Morgan, as well as U.S. President Theodore Roosevelt.

In November 1923, he became currency commissioner for the Weimar Republic. After his economic policies helped reduce German inflation and stabilize the German mark, Schacht was appointed president of the Reichsbank. He collaborated with other prominent figures in economics to form the Young Plan to modify the way that war reparations were paid after Germany's economy was destabilizing under the Dawes Plan. Although on March 7, 1930, six months after the beginning of the Great Depression, he stepped down from the position of Reichsbank Chairman, he returned on March 17, 1933 after Hitler's rise to power. Schacht had left the small German Democratic Party, which he had helped found, in 1926 and later came to lend his support to (but did not join) the Nazi Party.


[edit] Involvement in the Nazi Party
Though never a member of the Nazi Party, Schacht helped to raise funds for the party after meeting with Adolf Hitler. In August 1934 Hitler appointed Schacht as his Minister of Economics. Schacht supported public works programs similar to Franklin Delano Roosevelt's New Deal, most notably the construction of autobahns to attempt to alleviate unemployment - policies which had been instituted in Germany under legislation drawn up by Kurt von Schleicher's government in late 1932, and had in turn influenced Roosevelt's policies. Schacht also found an innovative solution to the problem of the government deficit by using mefo bills. He was appointed General Plenipotentiary for the War Economy in May 1935 and was awarded honorary membership of the Nazi Party and the Golden Swastika in January 1937.

Although somewhat hostile to Jews, Schacht disagreed with what he called "unlawful activities" against them and in August 1935 made a speech denouncing Julius Streicher and the articles he had been writing in Der Stürmer.

Schacht resigned as Minister of Economics and General Plenipotentiary in November 1937 due to disagreements with Hitler and Hermann Göring over military spending, which he believed would cause inflation. He was re-appointed President of the Reichsbank until Hitler dismissed him from his position in January 1939. After this Schacht held the title of Minister without Portfolio and received the same salary that he did as President of the Reichsbank until he was fully dismissed in January 1943.


[edit] Imprisonment and subsequent life
Schacht was accused of being involved in the July 20 Plot to assassinate Hitler in 1944, and was arrested and sent to Dachau Concentration Camp as a "special prisoner" until it was liberated in April 1945. He was arrested by the Allies and accused of war crimes at the Nuremberg Trials, but was acquitted and released in 1946. He was again arrested by Germans, tried in a denazification court and sentenced to eight years in a work camp, but was released early in September 1948. He formed the Düsseldorfer Außenhandelsbank Schacht & Co. after his release and became an economic and financial advisor for developing countries. Schacht died in Munich, Germany on 3 June 1970.


Schacht at the Nuremberg trials

Schacht in 1946, during the Nuremberg trials.Schacht was tried for crimes against peace in Nuremberg in 1946. His defence was that he was only a banker and economist, even though evidence showed that he participated in meetings that directly helped bring the Nazis to power, and that he admitted to breaking the Treaty of Versailles. He had created schemes to regiment the German workforce and gut the union movement, even before the election of Hitler.

The judges were split on his case due to a lack of evidence against Schacht during the war years.

Robert Jackson, a member of the prosecution team and an Associate Justice of the United States, was so outraged at the trial result that he lashed out at Schacht as "the most dangerous and reprehensible type of all opportunists, someone who would use a Hitler for his own ends, and then claim, after Hitler was defeated, to have been against him all the time. He was part of a movement that he knew was wrong, but was in it just because he saw it was winning." However, since Schacht had lost his important posts before the war, kept in close contact with dissidents such as Hans Bernd Gisevius throughout the war, and spent most of the last year of the war as a concentration camp prisoner himself, building a successful case against him would prove difficult.

Schacht wrote three books during his lifetime:

The End of Reparations, published in 1931
Account Settled, published in 1949 after his acquittal at the Nuremberg Trials
Confessions of the Old Wizard, an autobiography published in 1953
Miscellany
Gustave Gilbert, an American Army psychologist, was allowed to examine the Nazi leaders who were tried at Nuremberg for war crimes. Among other tests, a German version of the Wechsler-Bellevue IQ test was administered. Hjalmar Schacht scored 143, the highest among the Nazi leaders tested, albeit adjusted upwards to take account of his age."

Peace

Answer 2

I'm not entirely sure anymore if he was responsible for revaluing the German currency.

But the things he did do was he got industry going again. He ignored the Treaty of Versaille and built tanks and planes and ships. This got people working again. He also build infrastructure, the Autobahn was originally built by the Nazis to better aid troop movement. Once he basics were functioning again, the whole thing snowballed and the entire economy recovered quickly. He also stopped making the huge reparation payments that the Versaille Treaty stipulated, and instead funneled all that money back into Germany.

Many people only know about the later years of Hitler's regime, and don't realize that he did a lot of good for Germany early on. If he had died in 1936 or so, he would probably be remembered as a great leader. But, all the good that he did was for a dark purpose. He wanted Germany to be strong again, that way he could conquer Europe. You add in the ethnic cleansing and the atrocities commited by the Nazis and he is one of the greatest villains in history. But let's not lose sight of the whole story. Many people don't understand how be gained such power. He was elected to power initially, then afterwards he declared himself the leader for life. And even then, initially, the people mostly thought it would be okay.

Answer 3

many people will tell you that he never did nothing good but indeed the main reason that gave him the power was the lame german economy after the 1929 crack. When he rised to the power he supported the industrie. Companies like Bayer, mercedez benz, Volkwagen, BMW, Krupp, grow up in that period, he builded things like the autobahn. So he controled an economy out of control and Germany rised fron the crisis to the economic sucess. A great part of his economic strategy (if not the main part) was the military industry. With the construction of weapons he created employs and the economy grow up. (very similar to the military-industrial complex of the USA). However he destroyed the nation with war so the economic achievements of his dictatorship became a pyrric victory.

Answer 4

Yeah - he was great for the German economy. After his rule of terror and genocide, the entire country was left in ruins. The USA rebuilt the country from the ground up after his "inspired" economic leadership created total disaster for Germany and virtually all of Europe

Answer 5

Hitler was criticized as a Keyesian economic defecit spender, in other words Hitler spent more than he took in. So Hitler had to expand his Third Reich using 'lebensraum' living room as his excuse to expand.

Answer 6

He rebuilt the German military.

Luftwaffe, infantry and navy. All the branches required replenishment from the WW1 campaign. Thousands of jobs were create for the manufacturing alone, not to mention the support personel for these military contracts.
He also developed the Autobahn, requiring thousands of man hours to complete.
Despite being the anti-christ of the modern era, he did much for the german economy for that time.

Answer 7

any time any leader gets involved in war... the ecomomy is stimulated due to economic spending by the government on war time supplies.... so regarless of hitler or bush... the local economy was stimulated

Answer 8

he didn't help the economy at all, why would you even suggest that?

Answer 9

To suggest he helped anything at all, is a mockery.

IRiSh

Answer 10

he helped the economy?????????