ABSTRACT
This chapter illuminates the key features of the economic policy situation of 1934–38 and includes a more long-term perspective on issues of economic development. Contrary to recommendations by experts of the Austrian Board of Economic Efficiency and in spite of the evident shortage of coal, construction of hydropower plants virtually ceased in the 1930s. In order to assess the whole spectrum of economic policies in the 1930s, it will be necessary to include several key economic benchmarks and links. The gradual improvement of the economic situation in Austria as of 1934 did not extend to consumer goods sales. The effects of the restrictions in economic policies were particularly ominous when looking at employment, wages, and social progress. The economic policies developed on the basis of his Treatise on Money referred to cyclic dynamism determined by the savings-investment ratio. The National Socialist regime sought to neutralize the economic imbalance primarily by massive state intervention.
