In pre-ww2 and during ww2 Nazi Germany, what protection was given to Jewish property and businesses?

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The title asks about legal protections under two different governments; the question in the body asks why legal formalities were observed. I'm not sure which question you want answered. The body of the question seem to contain a thought experiment about some hypothetical businesses being nationalized.

Fundamentally legal niceties were observed because the Nazi's perceived themselves as a legitimate state. No protection were offered to Jews because the Nazi's felt that Jews were criminals. Most governments limit the rights they accord to criminals. In most states, it is illicit for criminals to keep the profits of their crimes; by criminalizing genetics, it became entirely legal to seize the wealth of Jews, because they could only have obtained that wealth through criminal activities that weakened the state and harmed German citizens.

Part of the horror comes from criminalizing genetics. Think about that for a while and then go hug your kid.

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