Introduction
Many of the countries involved in the World War I, despite winning or losing it, had to face hard political, economical and social consequences. The objective of this paper is to compare the economic strategies in the US under the leadership of Franklin D. Roosevelt and in Germany under Adolf Hitler on the basis of their inaugural speeches.
Problems of the USA and Germany after the World War I
Some sectors of the economy were more influenced by the World War I and the Great Depression more than others. Firstly, a great deal of population in both countries were unemployed, especially former soldiers. For the latter, it was hard to fit into the society that had functioned without them during the war. Another aspect of this problem is that most industries the during the war turned to mechanized manufacturing that led to the shortage of workplaces. It resulted in the crisis of industrial downturn and the crash of the stock market in 1929, the period otherwise known as the Great Depression. In American agriculture the overproduction resulted in the fact that goods lost their value, it was more expensive to produce them than to sell.
Meanwhile, in Germany, the economy was destroyed during the war, which caused hyperinflation. The money was devalued, and because of that, there was no opportunity to create sustainable production either in manufacturing or agriculture sectors. Politically, both nations were unsatisfied with some results of the war, despite signing the peace treaty.
Roosevelt and Hitler’s methods of resolving the problems
Unemployment
Roosevelt addressed to the problem of unemployment as not to an unsolvable one he was determined to resolve it “by direct recruiting by the Government itself, treating the task as we would treat the emergency of a war” (Roosevelt, 2016, para. 10). In his inaugural speech, Hitler did not specify means of how to put people back to work but underlined that “unemployment must be finally overcome” and that “the conditions for a revival in trade and commerce are provided” (Berlin: Proclamation To The German Nation, 2016, para. 16).
Banking, finance and in general, the economy
Roosevelt proclaimed a governmental control over the financial speculations, claiming that “a strict supervision of all banking and credits and investments” (Roosevelt, 2016, para. 12). Hitler stated for his government a “task of reorganizing business life a reorganization of the administrative and fiscal systems” (Berlin: Proclamation To The German Nation, 2016, para. 17). Both political leaders wanted also to ensure sustainable currency.
Agriculture
Roosevelt wanted to balance the population in industrial cities and the countryside to “to raise the values of agricultural products” if fewer people produce them (Roosevelt, 2016, para. 11). Hitler proclaimed obligatory “labor-service and the back-to-the-land policy” as two principles for reviving the agricultural sector (Berlin: Proclamation To The German Nation, 2016, para. 19).
Foreign Policy
In order to avoid an encounter with the foreign foe, Roosevelt proposed not to distrust the values of democracy, and provide “balance of executive and legislative authority” for making any war-related decision in case of emergency (Roosevelt, 2016, para. 22). Meanwhile, Hitler initiated the additional spending for the military under the agenda of security measures for “restoration of freedom” (Berlin: Proclamation To The German Nation, 2016, para. 22).
Conclusion
Healing the damaged economies can be achieved in different ways and under the agenda of different ideologies. Even with the similarities in the financial sector between the policies, the greater difference remains in their foreign policies and political courses in general.
References
Berlin: Proclamation To The German Nation. (2016).
Roosevelt, F. D. (2016). First Inaugural Address.