• Main Goal: 100% self-sufficiency in essential areas like steel and coal.
• Purpose: To ensure Germany wasn't dependent on foreign nations for crucial resources.
• Why? Save foreign currency and to ensure the nation had necessary supplies during peacetime.
• Tasks Set by Hitler
  •  Armed forces should be operational in four years.
  •  Economy must be ready for war within the same time.
• Context & Background
  •  1936 - Budget deficits and food shortages were evident.
  • Schacht vs. Nazi Leadership: Schacht favored increasing exports and controlling arms expenditure. But the Nazis had different ideas.

• Essentially means, "Should we focus on military (guns) or civilian goods (butter)?"
• The decision was made by Hitler. Result? Hermann Göring took charge, and the focus was shifted towards economic autarky.

• What? A state of self-sufficiency and minimal trade with the outside world.
• How? Managing the economy by controlling labor, prices, raw materials, and foreign exchange.
• Methods
  • Boost production of iron, steel, and food.
  •  Find alternatives for products like rubber and coal.
• Outcome? Fail! Despite the ambition, production targets for essentials like fuel and rubber weren't met. Germany was still dependent on other countries for some raw materials when war started in 1939.

Real-world Example for Autarky: Imagine being on an island and deciding not to rely on any imports. So, you focus on producing everything yourself, from food to tools. That's what Germany was aiming for economically!

• Success: Full employment restored and Germany was financially stable by 1939.
• Controversy: Was Hitler the primary reason for this success? Let's dig into some sources!