NAZISM

Group 3

Brief History

Significant Figures

Who answers the basic economic questions?

Who owns the factors of production?

How does the economy work under the ideology?

Characters of Nazism
1. As a political and economic system, it combined elements of nationalism, racism (anti-Semitism), authoritarianism and militarism. 2. Economic policies were designed to help the largest corporations in Germany.

3. Small businesses and companies in non-essential industries were bought out, driven out of business or confiscated if the owners were Jews and Communists. 4. The former owners of the small businesses, highly skilled artisans, would be forced to work for these large corporations in order to earn a living.

5. Trade unions were made illegal 6. Companies could require 80-hour workweek 7. Nazi use of economic intervention, including central planning and some limited public ownership

8. Nazi leaders were opposed to the Marxist idea of class conflict and opposed the idea that Capitalism should be abolished & that workers should control the means of production.

Advantages
1. Never interfered with the profits made by large German firms as Krupp, Siemens AG, and IG Farben. 2. Efforts were made to coordinate business actions with the needs of the state.

3. Established some state owned concerns such as Volkswagen to produce a cheap automobile for public use. 4. Engaged in an extensive public works program including the construction of the Autobahn system.

Disadvantages