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Who among the following was assigned the responsibility of economic recovery by Hitler?
[2010 (T-1)]
- a)Goebbels
- b)Hindenburg
- c)Hjalmar Schacht
- d)Adam Smith
Correct answer is option 'C'. Can you explain this answer?
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Who among the following was assigned the responsibility of economic re...
Responsibility of Economic Recovery by Hitler
The person assigned the responsibility of economic recovery by Hitler was Hjalmar Schacht.
Reasoning:
- Hjalmar Schacht was an economist and banker who played a crucial role in implementing Hitler's economic policies.
- He served as the President of the Reichsbank and Minister of Economics during the early years of Hitler's rule.
- Schacht was responsible for implementing various economic measures aimed at stimulating economic growth and reducing unemployment in Nazi Germany.
- He introduced public works programs, rearmament projects, and trade policies to boost the economy.
- Schacht also played a role in financing Hitler's military expansion by introducing policies such as the Mefo bills and the Four Year Plan.
- However, Schacht's influence waned over time, and he was eventually replaced by other economic advisors who advocated for more radical and aggressive economic policies.
Therefore, the correct answer is C: Hjalmar Schacht.
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Introduction to Economic Recovery Under Hitler
Adolf Hitler, upon rising to power, faced a Germany ravaged by economic turmoil, high unemployment, and the aftermath of World War I. To address these pressing issues, he appointed key figures to spearhead recovery efforts.
Hjalmar Schacht's Role
- Hjalmar Schacht was a prominent economist who played a crucial role in Hitler's economic policies.
- Appointed as the Minister of Economics and President of the Reichsbank, Schacht was tasked with revitalizing the German economy.
- He implemented policies that focused on reducing unemployment through public works projects, such as the construction of the Autobahn.
Key Policies Implemented
- Rearmament: Schacht orchestrated a rearmament program that not only prepared Germany for future conflict but also created numerous jobs.
- Mefo Bills: He introduced "Mefo bills," a form of credit that facilitated military expansion while masking the true extent of Germany's rearmament from the public and international scrutiny.
- Autarky: Schacht aimed to make Germany self-sufficient, reducing dependence on foreign imports through various economic strategies.
Impact of Schacht's Policies
- By 1936, Schacht's policies had significantly reduced unemployment and stimulated industrial growth.
- His strategies laid the groundwork for the economic revival that underpinned the Nazi regime's strength and military ambitions.
Conclusion
In summary, Hjalmar Schacht was pivotal in orchestrating Germany's economic recovery during Hitler's early years in power, implementing policies that transformed the nation’s economic landscape and fueled its militaristic ambitions.
Adolf Hitler, upon rising to power, faced a Germany ravaged by economic turmoil, high unemployment, and the aftermath of World War I. To address these pressing issues, he appointed key figures to spearhead recovery efforts.
Hjalmar Schacht's Role
- Hjalmar Schacht was a prominent economist who played a crucial role in Hitler's economic policies.
- Appointed as the Minister of Economics and President of the Reichsbank, Schacht was tasked with revitalizing the German economy.
- He implemented policies that focused on reducing unemployment through public works projects, such as the construction of the Autobahn.
Key Policies Implemented
- Rearmament: Schacht orchestrated a rearmament program that not only prepared Germany for future conflict but also created numerous jobs.
- Mefo Bills: He introduced "Mefo bills," a form of credit that facilitated military expansion while masking the true extent of Germany's rearmament from the public and international scrutiny.
- Autarky: Schacht aimed to make Germany self-sufficient, reducing dependence on foreign imports through various economic strategies.
Impact of Schacht's Policies
- By 1936, Schacht's policies had significantly reduced unemployment and stimulated industrial growth.
- His strategies laid the groundwork for the economic revival that underpinned the Nazi regime's strength and military ambitions.
Conclusion
In summary, Hjalmar Schacht was pivotal in orchestrating Germany's economic recovery during Hitler's early years in power, implementing policies that transformed the nation’s economic landscape and fueled its militaristic ambitions.
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Who among the following was assigned the responsibility of economic recovery by Hitler? [2010 (T-1)]a)Goebbelsb)Hindenburgc)Hjalmar Schachtd)Adam SmithCorrect answer is option 'C'. Can you explain this answer?
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