Books / Digital Text

The Nationalization of Credit

4. Summation

Deumer’s book clearly reveals that etatism, socialism, and interventionism have run their course. Deumer is unable to support his proposals with anything but the old etatist and Marxian arguments which have been refuted a hundred times. He simply ignores the critique of these arguments. Nor does he consider the problems that arose from recent socialistic experience. He still takes his stand on the ground of an ideology that welcomes every nationalization as prog­ress, even though it has been shaken to its foundations in recent years.

Politics, therefore, will ignore Deumer’s book, which may be regrettable from the author’s viewpoint because he in­vested labor, ingenuity, and expertise in his proposals. But in the interest of a healthy recovery of the German economy, it is gratifying.

Shield icon library