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Against the mainstream: Nazi privatization in 1930s Germany1




Nationalization was particularly important in the early 1930s in Germany. The state took over a large industrial concern, large commercial banks, and other minor firms. In the mid‐1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization was used as a political tool to enhance support for the government and for the Nazi Party. In addition, growing financial restrictions because of the cost of the rearmament programme provided additional motivations for privatization.

Suggested Citation

  • Germà Bel, 2010. "Against the mainstream: Nazi privatization in 1930s Germany1," Economic History Review, Economic History Society, vol. 63(1), pages 34-55, February.
  • Handle: RePEc:bla:ehsrev:v:63:y:2010:i:1:p:34-55
    DOI: 10.1111/j.1468-0289.2009.00473.x

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    References listed on IDEAS

    1. Sidney Merlin, 1943. "Trends in German Economic Control since 1933," The Quarterly Journal of Economics, Oxford University Press, vol. 57(2), pages 169-207.
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    6. Marie Dessauer, 1935. "The German Bank Act of 1934," Review of Economic Studies, Oxford University Press, vol. 2(3), pages 214-224.
    7. Megginson, William Leon, 2005. "The Financial Economics of Privatization," OUP Catalogue, Oxford University Press, number 9780195150629, November.
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    10. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, December.
    11. David E. M. Sappington & Joseph E. Stiglitz, 1987. "Privatization, information and incentives," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 6(4), pages 567-585.
    12. Otto Nathan, 1944. "The Nazi Economic System," NBER Chapters, in: Nazi War Finance and Banking, pages 3-4, National Bureau of Economic Research, Inc.
    13. John Vickers & George Yarrow, 1991. "Economic Perspectives on Privatization," Journal of Economic Perspectives, American Economic Association, vol. 5(2), pages 111-132, Spring.
    14. Kay, J A & Thompson, D J, 1986. "Privatisation: A Policy in Search of a Rationale," Economic Journal, Royal Economic Society, vol. 96(381), pages 18-32, March.
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    Cited by:

    1. Gustavo Lagos, 2018. "Mining nationalization and privatization in Peru and in Chile," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 31(1), pages 127-139, May.
    2. Aldunate, Felipe & González, Felipe & Prem, Mounu & Urzúa, Francisco, 2020. "Privatization and business groups: Evidence from the Chicago Boys in Chile," Explorations in Economic History, Elsevier, vol. 78(C).
    3. Gonzalez, F & Prem, M, 2021. "The Legacy of the Pinochet Regime," Documentos de Trabajo 019446, Universidad del Rosario.
    4. Rim Lahmandi-Ayed & Didier Laussel, 2020. "A voting model of privatization," Working Papers hal-02504990, HAL.
    5. Germà Bel, 2010. "From public to private: Fascist privatization in 1920s Italyç," Working Papers 10014, Economic History Society.
    6. Lahmandi-Ayed, Rim & Laussel, Didier, 2022. "When do privatizations have popular support? A voting model," Journal of Mathematical Economics, Elsevier, vol. 100(C).

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