German economist and politician (1883-1941)
Gottfried Feder (27 January 1883 – 24 September 1941) was a German civil engineer, a self-taught economist, and one of the early key members of the Nazi Party and its economic theoretician. It was one of his lectures, delivered in 1919, that drew Adolf Hitler into the party.
Bio from: Wikiquote (CC BY-SA 4.0)
Gottfried Feder gave the Nazi Party an ideology. Its essential points were paramount State ownership of land and the prohibition of private sales of land, the substitution of German for Roman law, nationalization of the banks and the abolition of interest by an amortization service. It was he, too, who inspired the Party with its doctrine of the distinction between productive and non-productive capital and of the necessity for destroying the ‘slavery of profits.’
But the capitalist idea of profitability actually becomes an economic nonsense in the branches of our economy that today rule everything, in the banking and stock-exchange system. The fact of the ruling position of the banks proves most strikingly the economic senselessness of the capitalist idea. With the ‘productions’ of the banks and stock-exchanges never yet has a child been fed, never yet has a freezing person been clothed, in general never has even the smallest requirement that is necessary for life been supplied.
Enhance Your Quote Experience
Enjoy ad-free browsing, unlimited collections, and advanced search features with Premium.