Both income shocks and elite scapegoating jointly drove Nazi radicalization

Evidence

In sum, the economic channel matters for radicalization – declining incomes led directly to greater Nazi backing. Yet our results – the differential effects of Danat and Dresdner, as well as the fact that exposure to Danat led to stronger gains in areas with deep-seated anti-Semitism – suggest that cultural factors are key to understanding the surge in Nazi Party support. The highly visible failure of Danat and the Nazis’ scapegoating of Danat’s CEO Goldschmidt and Jews in general could have led voters to associate Danat with their economic misery and led to political radicalization in the aftermath of the banking crisis. — Sebastian Doerr et al., Financial Crises and Political…, 125

Categorization

• XREF: Economic hardship alone insufficient for radicalization unless paired with a salient target echoes findings in the trust/scapegoating and moral-panic literatures previously kept. — connects to: Financial distress and cultural anti-Semitism interacted to spread radicalization. — Sebastian Doerr et al., Financial Crises and Political…, 28; Media scapegoating, not economic loss alone, drove post-crisis Nazi radicalization; Danat exposure radicalized Nazi voting beyond the income losses it caused — Sebastian Doerr et al., Financial Crises and Political…, 113 (+5 more)

Broader Connections

• Media scapegoating, not economic loss alone, drove post-crisis Nazi radicalization #complicates (0.85)
• Falling local incomes from the banking crisis raised Nazi vote share substantially #expands (0.85) — Sebastian Doerr et al., Financial Crises and Political…, 107
• Financial distress shifted Nazi votes beyond what income loss alone explains. #expands (0.80) — Sebastian Doerr et al., Financial Crises and Political…, 109
• Danat exposure radicalized Nazi voting beyond the income losses it caused #qualifies (0.75) — Sebastian Doerr et al., Financial Crises and Political…, 113
• Economic precarity of the lower middle class fueled sudden antisemitism #expands (0.75) — Hannah Arendt, The Origins of Totalitarianism, 141
• Cross-party austerity orthodoxy enabled the Nazi electoral rise #expands (0.72) — Mark Blyth, Austerity, 556