And this thesis is somewhat connected with general social and political observations, because it establishes the fact that the number of consumers is considerably larger than the number of producers, a fact which exercises a not inconsiderable social and political pressure.
Hjalmar Schacht Quotes
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| Birth: | 22nd January, 1877 |
| Death: | 3rd June, 1970 |
| Nationality: | German |
| Profession: | Economist, Politician |
About
Hjalmar Horace Greeley Schacht was born in Tinglev, Denmark. He was a German economist, banker, liberal politician, and co-founder of the German Democratic Party in 1918. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. While he never joined the NSDAP, he became a supporter of Adolf Hitler. He served in Hitler's government as President of the Reichsbank from 1933–1939 and Minister of Economics from 1934–1937. He was dismissed as President of the Reichsbank in January 1939. In 1953, he founded a private banking house in Düsseldorf. He also advised developing countries on economic development. He earned his PhD in Economics from the University of Berlin in 1899. He wrote several books include: The End of Reparations,
Confessions of "the Old Wizard"(Autobiography), and The Stabilization of the Mark.
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