The Nazis came to power in the midst of the Great Depression.
When the Nazis came to power the most pressing issue was an unemployment rate of close to 30%.
Hitler appointed Hjalmar Schacht, as President of the Reichsbank in 1933 and Minister of Economics in 1934.
Schacht kept interest rates low and government budget deficits high, with massive public works funded by large budget deficits.
These policies were mostly Keynesian, relying on large public works programs supported by deficit spending â such as the construction of the Autobahn network â to stimulate the economy and reduce unemployment.
For example,the "Reinhardt Program" for infrastructure development was introduced, with direct public investment in waterways, railroads and highways.
Between 1933 and 1936, employment in construction rose from only 666,000 to over 2,000,000.
According to Delong at UC Berkeley,The consequence was an extremely rapid decline in unemploymentâthe most rapid decline in unemployment in ANY country during the Great Depression.
http://econ161.berkeley.edu/TCEH/Slouch_Purge15.html
Therefore why would massive government spending on an extreme scale like Nazi Germany not lead to a similar outcome in the USA?
Would the USA follow the historical path of Germany's political development(already we are seeing a rapid polarization in the political arena), leading to not merely a conservative government but a far right nationalist one which would seek the deportation of minorities back to their countries like Taiwan, Mexico, China,etc ?
When the Nazis came to power the most pressing issue was an unemployment rate of close to 30%.
Hitler appointed Hjalmar Schacht, as President of the Reichsbank in 1933 and Minister of Economics in 1934.
Schacht kept interest rates low and government budget deficits high, with massive public works funded by large budget deficits.
These policies were mostly Keynesian, relying on large public works programs supported by deficit spending â such as the construction of the Autobahn network â to stimulate the economy and reduce unemployment.
For example,the "Reinhardt Program" for infrastructure development was introduced, with direct public investment in waterways, railroads and highways.
Between 1933 and 1936, employment in construction rose from only 666,000 to over 2,000,000.
According to Delong at UC Berkeley,The consequence was an extremely rapid decline in unemploymentâthe most rapid decline in unemployment in ANY country during the Great Depression.
http://econ161.berkeley.edu/TCEH/Slouch_Purge15.html
Therefore why would massive government spending on an extreme scale like Nazi Germany not lead to a similar outcome in the USA?
Would the USA follow the historical path of Germany's political development(already we are seeing a rapid polarization in the political arena), leading to not merely a conservative government but a far right nationalist one which would seek the deportation of minorities back to their countries like Taiwan, Mexico, China,etc ?
