“When the regime wanted additional industrial capacity or resources for the military economy which the private sector could not provide, it was created (or conquered) by the state… during the Third Reich state ownership expanded into the productive sectors, based on the strategic industries, aviation, aluminum, synthetic oil and rubber, chemicals, iron and steel, and army equipment. Government finances for state-owned enterprises rose from RM 4,000m in 1933 to RM 16,000m 10 years later; the capital assets of state-owned industry doubled during the same period; the number of state-owned firms topped 500.”

Source: War and Economy in the Third Reich (1994), p. 16

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "When the regime wanted additional industrial capacity or resources for the military economy which the private sector co…" by Richard Overy?

Richard Overy14

British historian 1947

Related quotes

“In America, despite the amazing rise in productivity we’ve had in the last 30 years, real wages have actually gone down. All of the increase in productivity has been taken by the finance, insurance, and real estate sector, called the FIRE sector, almost all of it by the financial sector. … So instead of having industrial capitalism a century ago, we have a finance capitalism that actually is stifling industrial capitalism here. So what Alan Greenspan and others call the postindustrial economy is really neo-feudalism. It’s a financialized economy where all of the surplus goes to the banks.”

Michael Hudson (economist) (1939) American economist

Deficit Hawks One Two Punch http://michael-hudson.com/2010/12/deficit-hawks-one-two-punch/ (December 16, 2010) <br class="br">Michael-Hudson.com, 1998-

“All the alleged key causes of SOE [State-Owned Enterprise] inefficiency—the principal-agent problem, the free-rider problem and the soft budget constraint—are, while real, not unique to state-owned enterprises. Large private-sector firms with dispersed ownership also suffer from the principal-agent problem and the free-rider problem. So, in these two areas, forms of ownership do matter, but the critical divide is not between state and private ownership—it is between concentrated and dispersed ownerships.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 5: 'Man exploits man; Private enterprise good, public enterprise bad?', The pitfalls of privatization, p. 116

“In accordance with Dr. Sun's principles and the experience of the Chinese revolution, China's national economy at the present stage should be composed of the state sector, the private sector and the co-operative sector. But the state here must certainly not be one "privately owned by the few", but a new-democratic state "shared by all the common people" under the leadership of the proletariat.”

Mao Zedong (1893–1976) Chairman of the Central Committee of the Communist Party of China

On Coalition Government (1945)

“Göring industrial empire represented, in this sense, one of the major steps towards restricting private industrial capitalism and substituting a ‘völkisch’, state-run industrial economy.”

Richard Overy (1947) British historian

Source: War and Economy in the Third Reich (1994), p. 146

“Without an industrial economy, the modern army, as in America, could not exist; it is an army of machines. Professional economists usually consider military institutions as parasitic upon the means of production. Now, however, such institutions have come to shape much of the economic life of the United States.”

C. Wright Mills book The Power Elite

The Power Elite (1956)

“The outcome [of the Nazi economy] was a command economy, governed by military priorities, but run by a coalition of state officials, soldiers, party hacks and industrial technocrats.”

Richard Overy (1947) British historian

Source: War and Economy in the Third Reich (1994), p. 17

“The people of the United States will not tolerate another deep depression that arises not from any lack of natural resources, productive capacity or man and brain power, but solely from imperfections in the functioning of the system of finance capitalism.”

Benjamin Graham (1894–1976) American investor

Part V, Chapter XIX, The Reservoir Plan and Tradition, p. 234 (See also; Karl Marx, Capital)
Storage and Stability (1937)

“In this regard, I hope the dry rubber products segment continues to chart a more creditable growth in exports. These are challenging times. On the external front, the United States-China trade conflict, if protracted, could affect global growth and demand. On the domestic front, the private sector has to step up investment to drive economic growth, especially in the downstream sector.”

Teresa Kok (1964) Malaysian politician

Teresa Kok (2018) cited in " Teresa Kok: Rubber to surpass palm oil’s contribution to economy https://www.freemalaysiatoday.com/category/nation/2018/09/18/teresa-kok-rubber-to-surpass-palm-oils-contribution-to-economy/" on FMT News, 18 September 2018

“Since we are developing a lot of small and medium-sized enterprises, we are trying to make all these industries free by the private sector to increase productivity nationwide to make things for domestic use and export, and at the same time create jobs so that there is no unemployment.”

Syngman Rhee (1875–1965) first president of South Korea (1875-1965)

Source: Inaugural address (15 August 1956)

“The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.”

Henry Hazlitt (1894–1993) American journalist

Help us to complete the source, original and additional information

Richard Overy14

Related quotes

Related topics