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By 1935, German unemployment was minimal.  'Hitler had already found how to cure unemployment before Keynes had finished explaining why it occurred.'[Joan Robinson]  In 1936, as prices and wages came under upward pressure, Hitler took the further step of combining an expansive employment policy with comprehensive price controls.


... Nevertheless the elimination of unemployment in Germany during the Great Depression without inflation -- and with initial reliance on essentially civilian activities -- was a signal accomplishment.  It has rarely been praised and not much remarked.  The notion that Hitler could do no good extends to his economics as it does, more plausibly, to all else.

Oh, God, don't let the freepers find out or they'll start claiming that Keynes was a Nazi.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Wed Sep 2nd, 2009 at 09:54:32 AM EST
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