Hitler’s Economic Policy in Nazi Germany

German Labour Front:

In 1933, Hitler banned all independent trade unions within the Third Reich. In their place, Hitler created the German Labour Front, or DAF. Through the DAF, the Nazi party was able to set wage controls in the economy. As well, the DAF provided social security to German workers and increased job security. The DAF was composed of two main labour organizations, the Nationalsozialistische Betriebszellenorganisation (NSBO), which represented workers in the factories, and the Nationalsozialistische Handels und Gewerbeorganization (NSHABO) which focused on national socialist trade and industry organization.
In addition to the DAF, the Nazis set up the following labour sub-organizations:
Kraft Dur Freude (KdF)
The aim of the Kraft Dur Freude was to provide vacation, entertainment and relaxation to the German workers. Kraft Dur Freude meant “Strength through Joy”. Through free or subsidized trips, concerts and cruises, the KdF aimed to bring pleasure to the common worker, in the hopes that it would increase workforce productivity.
Reichsarbeitsident (RAD) :
The RAD was a consolidation of every sector of the economy, and represented all German labours. The aim of the RAD was to reduce unemployment in the Third Reich. For unemployed men, membership in the RAD was compulsory, and men in the RAD provided labour for large state and corporate projects.
Schönheit der Arbeit (The Beauty of Labour)
The Beauty of Labour aimed to improve workplace conditions.

Four Year Plans and Autarky:
Following the principles of autarky, Hitler wanted the German nation to be self-sufficient in terms of natural resources. Thus, Hitler had Hermann Goering create the Germany’s Four Year Plan. Hitler did not want to cause inflation such as that of the early 1920’s, thus he did not devalue the marc. The Four Year Plan focused instead on heavy industry and industrial production. Through public works projects, such as the Autobahn, the Four Year Plan aimed to reduce unemployment. As well, in order to achieve autarky, Hitler directed the German economy towards synthetic production, so-as to decrease import levels. As well, the Four Year Plan focused heavily on mechanization in preparation for war. Many times compared to Roosevelt’s New Deal, the Four Year Plan reduced unemployment from 6 million to 2 million German citizens.

Sources:
http://www.feldgrau.com/daf.html
http://socyberty.com/history/life-in-nazi-germany/
http://www.papillonsartpalace.com/nazi.htm
http://www.schoolhistory.co.uk/lessons/germany/economy.html