Who among the following was assigned the responsibility of economic re...
Hitler assigned the responsibility of economic recovery to economist Hjalmar Shacht who aimed at full production and full employment through a state funded work creation programme. This project produced the famous german super highways and people's car the volkswagen.
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Who among the following was assigned the responsibility of economic re...
Hitler assigned the responsibility of economic recovery to economist Hjalmar Shacht who aimed at full production and full employment through a state funded work creation programme. This project produced the famous german super highways and people's car the volkswagen.
Who among the following was assigned the responsibility of economic re...
Hjalmar Schacht was assigned the responsibility of economic recovery by Hitler.
Hjalmar Schacht was an economist and banker who served as the President of the Reichsbank, the central bank of Germany, from 1923 to 1930. He was known for his expertise in monetary policy and his role in stabilizing the German economy during the hyperinflation of the early 1920s.
Hitler appointed Schacht as the Minister of Economics in 1934 and later as the President of the Reichsbank again in 1933. Schacht played a significant role in implementing Hitler's economic policies and was tasked with the responsibility of reviving the German economy, which had been severely impacted by the Great Depression.
Under Schacht's guidance, the German government implemented a range of economic policies aimed at achieving economic recovery. These policies included public works projects, job creation initiatives, and increased government spending on infrastructure development. Schacht also introduced various measures to control inflation and stabilize the currency.
One of the key initiatives led by Schacht was the introduction of the "New Plan" in 1934, which aimed to promote international trade and boost the German economy. The plan involved the establishment of bilateral trade agreements with other countries and the introduction of a system of clearing accounts to facilitate trade.
Schacht's policies were successful to some extent in achieving economic recovery in Germany. The unemployment rate decreased, industrial production increased, and the economy experienced a period of relative stability. However, it is important to note that these economic improvements were largely achieved through rearmament and military spending, which laid the foundation for Hitler's aggressive foreign policy and ultimately led to the outbreak of World War II.
Overall, Hjalmar Schacht played a crucial role in implementing Hitler's economic policies and was assigned the responsibility of economic recovery. His efforts, although successful in the short term, were ultimately tied to the militarization of the German economy and the pursuit of Hitler's aggressive foreign policy objectives.
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