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I agree that people in the know would not advocate brutal totalitarian dictatorship in 1947. But the idea of a centrally planned economy was far from discredite

I agree that people in the know would not advocate brutal totalitarian dictatorship in 1947. But the idea of a centrally planned economy was far from discredited in 47. Central planning and some smart financial engineering by Schacht had harnessed tremendous productive capacity in Nazi Germany. Naturally the USSR was committed to central planning, and had ultimately defeated the largest invasion force ever assembled. Both the UK and US adopted central planning to direct their capitalist econonomies to war aims. And that was a big factor in Labour's 1945 election win that removed Churchill from office. Central planning had been seen to be a key factor in winning the war, and that bolstered Labour's arguments for the welfare state, NHS and nationalization of key industries like coal. A political consensus formed around the planned economy and persisted until 1979, and the coming of the Blessed Margaret.

badpun 9y ago
> I agree that people in the know would not advocate brutal totalitarian dictatorship in 1947. But the idea of a centrally planned economy was far from discredited in 47. Central planning and some smart financial engineering by Schacht had harnessed tremendous productive capacity in Nazi Germany. Wasn't the economic boom of Nazi Germany under Hitler fueled mostly by giant foreign loans? From what I've read, one of main reasons Hitler was so hell-bent on going to war was the looming bankruptcy - war allowed him to pillage conquered countries (mainly in the East), which brought in tons of money.
- osullivj 9y ago
  No - the giant foreign loans arrived in the second half of the 20s, after Hjalmar Schacht had cured hyperinflation with the introduction of the Rentenmark. Germany enjoyed a debt fuelled boom until the crash of Oct 29, which caused US banks to recall loans, crashing the German economy. During the boom the Nazis had been an irrelevance. In the early 30s unemployment hit 6M and Hitler became Kanzler in Jan 33, and brought Schacht back. This time Schacht created mefos to expand credit covertly and reflate the economy. Hitler wasn't hell bent on war for financial reasons. He was hell bent on war because he saw violent struggle as part of the natural order, and the means for the German people to dominate Europe and to replicate the 19th century US drive westwards by carving out a new empire in Russia.

badpun 9y ago

> I agree that people in the know would not advocate brutal totalitarian dictatorship in 1947. But the idea of a centrally planned economy was far from discredited in 47. Central planning and some smart financial engineering by Schacht had harnessed tremendous productive capacity in Nazi Germany. Wasn't the economic boom of Nazi Germany under Hitler fueled mostly by giant foreign loans? From what I've read, one of main reasons Hitler was so hell-bent on going to war was the looming bankruptcy - war allowed him to pillage conquered countries (mainly in the East), which brought in tons of money.

osullivj 9y ago
No - the giant foreign loans arrived in the second half of the 20s, after Hjalmar Schacht had cured hyperinflation with the introduction of the Rentenmark. Germany enjoyed a debt fuelled boom until the crash of Oct 29, which caused US banks to recall loans, crashing the German economy. During the boom the Nazis had been an irrelevance. In the early 30s unemployment hit 6M and Hitler became Kanzler in Jan 33, and brought Schacht back. This time Schacht created mefos to expand credit covertly and reflate the economy. Hitler wasn't hell bent on war for financial reasons. He was hell bent on war because he saw violent struggle as part of the natural order, and the means for the German people to dominate Europe and to replicate the 19th century US drive westwards by carving out a new empire in Russia.