25 June 2011

Nazi Economics

An old piece from Reason
debunking the commonly held myth of Hitler's 1930s economic miracle. In reality Germany under Nazi stewardship was in a bad shape, particularly its agricultural sector. By late 1935 the country was thought to be experiencing a 'provisions crisis' and Nazi officialdom agonized over a decision whether to import raw materials for the rearmament or food.

It is interesting to think how the lebensraum theory was boosted by the failed economic policies of the Nazis. The idea Germany was overpopulated and needed to colonize new ground in the east was made even more attractive once regulation retarded the agriculture and made it produce even less than it otherwise would.

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