>>62129
>>62133
Now I'm on my computer. So, page 3:
>It must be pointed out that, whereas modern privatization has run parallel to liberalization policies, in Nazi Germany privatization was applied within a framework of increasing state control of the whole economy through regulation and political interference.
Page 11:
>On one hand, the intense growth of governmental regulation of markets, which heavily restricted economic freedom, suggests that the rights inherent to private property were destroyed. As a result, privatization would be of no practical consequence, since the state assumed full control of the economic system. On the other hand, the activities of private business organizations and the fact that big businesses had some power seem to be grounds for inferring that the Nazis promoted private property. Privatization, according to this analysis, was intended to promote the interests of the business sectors supportive of the Nazi regime, as well as the interests of the top echelons in the Nazi Party.
Page 14:
>As pointed out by Nathan, ‘It was a totalitarian system of government control within the framework of private property and private profit. It maintained private enterprise and provided profit incentives as spurs to efficient management. But the traditional freedom of the entrepreneur was narrowly circumscribed’. In other words, there was private initiative in the production process, but no private initiative was allowed in the distribution of the product. Owners could act freely within their firms, but they were extremely restricted in the market.
>As Wengenroth explains, ‘uncooperative industrialists such as the aircraft manufacturer Hugo Junkers were removed from their positions and replaced with Nazi governors. This was not an explicit nationalization policy, but simply an attempt to control production and investment policies in the interest of rearmament’. In fact, as stated by Overy, Hugo Junkers ‘refused to produce warplanes for Göering and found his business nationalized’.
Page 15:
>To sum up, in their theoretical work on the relationship between politicians and firms, Shleifer andVishny stress that anti-market governments are compatible with privatization, as long as they can retain control over firms through strong regulation.
Page 17:
>Nazi macroeconomic policy implied an intense increase of taxation, so there was not much opportunity to use fiscal policy to provide benefits in exchange for political support. In fact, fiscal
revenues from corporate tax grew by 1,365 per cent between 1932/3 and 1937/8, whereas total fiscal revenues grew by 110 per cent in the same period.