Policy Steps: Hitler and Policy

policy steps: Hitler had taken wonderful fiscal and monetary stimulus steps, which in turn led to something horrible for the world as his strengthened grip on power led to the Holocaust and massive human casualties during World War II, Harada said in a seminar on monetary policy in Tokyo, according to The Japan Times. Hitler became German chancellor in 1933. Yutaka Harada, a member of the board of Japan's central bank, said Western policymakers helped bring Hitler to power by being slow to apply John Maynard Keynes' proposals to fight the Great Depression. Because Hitler had taken appropriate fiscal and monetary policy steps, tragedy resulted. Fiscal policy involves setting government spending and tax rates, whereas monetary policy involves money supply and interest rates set by a central bank. What I'm saying is that someone should have taken appropriate fiscal and monetary policy steps before Hitler did, said Harada, an academic-turned BOJ policymaker. (news.financializer.com). As reported in the news.