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I have read post after post from you blaming Obama and "liberals" for every evil in this country.
This topic is not about Obama and one glance should have told you that.
Inflation maybe rising in this country, but to compare it to the inflation during the Weimar Republic in Germany is absurd. Comparing Obama to Hitler is a "scrape the bottom of the barrel" argument.
Ludwig von Mises whose article you cite is neither a reputable or mainstream economist. Its kind of like comparing the contents of the National Enquirer with the New York Times. Austrian economics is a viewpoint held by the barest number of economists in the country/world. Von Mises lacks credibility because of it.
Please don't insult those of in the history forum with this kind of a post. I'll encourage the host to move this topic to where it belongs---Politics.
It's easy to put together a comprehensive plan for anything, and bring it to fruition, when you don't have to fool with such things as opposition, isn't it? When dissent can be stifled and dissenter's disappeared, lots can get done.
He also finished building the Autobahn. He gave every German free access to higher education. In fact a lot of his implemented social policies made Germany the dominant economic force in Europe it is today.
Inflation maybe rising in this country, but to compare it to the inflation during the Weimar Republic in Germany is absurd. Comparing Obama to Hitler is a "scrape the bottom of the barrel" argument.
Ludwig von Mises whose article you cite is neither a reputable or mainstream economist. Its kind of like comparing the contents of the National Enquirer with the New York Times. Austrian economics is a viewpoint held by the barest number of economists in the country/world. Von Mises lacks credibility because of it.
Please don't insult those of in the history forum with this kind of a post. I'll encourage the host to move this topic to where it belongs---Politics.
He wasn't talking about inflation in the Weimar Republic, he was talking about inflation in Nazi Germany. Which boggles my mind because inflation in Nazi Germany wasn't higher than it is today. He misses the point that some inflation is actually good for the economy.
It is an interesting read but it is missing key points -
The distinction between what Germany was doing, vs. what Roosevelt and every economy before and after that was doing during a recession with high unemployment, is not well defined. Economies do basically the same thing - deficit spending, to different degrees. It always works, but it is a short term fix. As we see in the current US economy, it did actually pull us out of a recession, but because the fix is short term, the root cause of the economic problems remain, and thus economic problems and unemployment remain.
In Germany's case, it was more effective because of the government authoritative control over the economy, and Hitler just did more of it. But, still, it was a short term fix, and the nazi economy, like the regime itself, was doomed to failure. Hitler's deficit spending was greater than nazi German growth, it was unsustainable. In the late 1930s, before the war, German wages were falling and Germany had huge national debts and deficits, and also trade deficits, the economy was becomming superheated. If no war had occured, the economy would have collapsed. In fact, the economic situation may have justified the war for some German economists (to feed the economy). And the drop in unemployment attributed in the article? Jews were not calculated in Nazi German unemployment rate (neither were women), and it's a disgrace if that is not mentioned in this article. Anways, obviously, jews were kicked out of jobs when Nazi's gained power and replaced by Aryans. That explains the Nazi Economic Miracle on solving unemployment. The article states "many jews benifited from Nazi economy...". Is that a joke? The article lost alot of credibility with that statement.
Really, what got the US out of the depression was WW2. For Germany, preparing for WW2 started in the mid-1930s. It wasn't industrial growth that contributed (short term) to the economy, it was massive arms production.
As I read it, here is a summation of the conrasting schools of thought:
1. Pay people wages out of public funds and find useful, productive work for them to do. The wages will cycle back into the capital economy. (Socialist)
2. Wait for the private sector to perceive potential profitability from a market demand for goods and services, when there is no money in circulation. And wait. And wait. (Capitalist)
Oh, one more thing: Never do anything that Hitler did, because, well, that's what Hitler did.
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