About the Relative Efficiency of the Nazi Work Creation Programs
AbstractThe proposed paper will discuss the controversy on Germany’s economic recovery after the Depression and the role Nazi work creation programs had therein. Economic data suggests evidence of a cyclical turning point of the economic crisis in the summer of 1932 with some leading indicators reaching the turning point already in January 1932, which I propose to discuss. Data of the years 1933/34 support this argumentation. On this empirical basis the impact of Hitler’s work creation programs have to be re-evaluated: these programs were not the causes of Germany’s economic recovery of but only supported a self-sustaining cyclical upswing to 1936. The basis of that upswing is to be seen, as Knut Borchardt has already argued 12 years ago, in the “normalisation” of the structural relations between factor prices and productivity, i. e. the improvement of supply conditions and profit chances.
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Bibliographic InfoPaper provided by University of Munich, Department of Economics in its series Discussion Papers in Economics with number 382.
Date of creation: Jun 2004
Date of revision:
Unemployment; Work Creation Programs; Business Cycles; Great Depression; National Socialism; Rearmament;
Find related papers by JEL classification:
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H53 - Public Economics - - National Government Expenditures and Related Policies - - - Government Expenditures and Welfare Programs
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- N34 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Europe: 1913-
- N44 - Economic History - - Government, War, Law, International Relations, and Regulation - - - Europe: 1913-
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