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'Good' Nazi economic policies?

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
http://news.bbc.co.uk/1/hi/business/3112611.stm

A US bank has been rebuked for praising the economic policies of the Third Reich.

The bank stated that the near Keynesian economic policies helped reduce unemployment and increase growth during the global depression.

Was the bank right in saying these things?

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Maybe what they're saying is correct, but i don't think that they should have said it, seeing as there is many people who find that tobe a soft issue.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Re: 'Good' Nazi economic policies?
    Originally posted by monocrat
    http://news.bbc.co.uk/1/hi/business/3112611.stm

    A US bank has been rebuked for praising the economic policies of the Third Reich.

    The bank stated that the near Keynesian economic policies helped reduce unemployment and increase growth during the global depression.

    Was the bank right in saying these things?

    Hmmm yes and no. Hitler does deserve credit for getting Germany out of the Depression. He advocated Keynesian methods to stimulate the economy when most of the traditional parties in Germany were just following liberal laissez-faire economics and said that they just had to leave it to market forces.

    In fact less extreme forms of Nazi economic policies were adopted by most of the Western world after the war. Primarily the Keynesian theory of spending more on capital goods in a recession to create jobs through a ripple effect, this was known as the New Deal in America and formed the basis of British economic management until 1979. Where Hitler outlawed price and wage increases, British governments had prices and incomes policies. Also both Nazi Germany and other countries would use measures to fiddle the unemployment statistics so where Nazi Germany encouraged women to stay at home, British governments raised the school leaving age and altered what it means to be unemployed.

    However, Nazi economic management, although it did get them out of the Depression, was hugely unstable and the German economy was overheating to the point of collapse because it needed more resources, which were gained when it launched its Blitzkrieg of Europe. Also there is the impact of slave labour however this wasn't actually that big on the economy because the slaves were so badly treated they weren't that productive.

    But I do believe the bank was right to say these things. As was repeatedly told to my class during our history course on Nazi Germany - we can't just say Hitler was naturally evil and the German people went mad because that removes the necessity to look at the causes of what happened in Germany between 1933-1945 and therefore increases the chances of it happening again. So although ultimately Nazism and Fascism were horrible ideologies we have to recognise that there were pros and cons to it just as there are to every governmental system.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Facsism is no less vaild an ideology than conservatism, anarchism or any other political philosophy.
    Primarily the Keynesian theory of spending more on capital goods in a recession to create jobs through a ripple effect, this was known as the New Deal in America and formed the basis of British economic management until 1979

    I thought it was the Wilson/Callaghan government of the 70's who ended Keynesianism when they accepted a loan from the IMF?
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by monocrat
    Facsism is no less vaild an ideology than conservatism, anarchism or any other political philosophy.

    Facism is wrong in many ways and is not a valid ideology. So taking away of Freedom of Speach is a valid idea. Gimme a break
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by GINGA
    Facism is wrong in many ways and is not a valid ideology. So taking away of Freedom of Speach is a valid idea. Gimme a break

    Why is freedom of speech absolutely right? Or liberal democracy? Or any other thing that facsism denounces?

    I think you've been brainwashed and need to look at politics with a more open mind.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by monocrat
    I thought it was the Wilson/Callaghan government of the 70's who ended Keynesianism when they accepted a loan from the IMF?

    No why would the IMF loan stop them practising Keynesian policies? They were Keynesians until Mrs Thatcher took over in 1979.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Not true. The Labour government of the seventies implemented some monetarist policies (though not as extreme as Thatcher).
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by monocrat
    Not true. The Labour government of the seventies implemented some monetarist policies (though not as extreme as Thatcher).

    Wrong. It was Edward Heath who had a brief flirtation with monetarist policies in the early 70s but then unemployment went up so he lost his nerve (and the 74 elections) and went back to Keynesian policies with the Wilson/Callaghan governments followed.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Ted Heath's economic polices were more free-market oriented but they were not strictly monetarist. The 'U-turn' was named as such because he abandoned free-market policies by nationalising a company.
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