Hjalmar Schact was_________________a)An economistb)A philosopherc)A mi...
An economist whom Hitler appointed to make the economy of Germany better
Hjalmar Schact was_________________a)An economistb)A philosopherc)A mi...
Hjalmar Schacht was an economist.
Explanation:
Hjalmar Schacht was a prominent German economist who played a significant role in the economic policies of Nazi Germany. He was born on January 22, 1877, in Tinglev, Denmark, but his family moved to Germany when he was a child.
Schacht's career in economics began after he completed his studies at the University of Leipzig. He initially worked in the German banking sector, gaining experience and expertise in finance and monetary policy. He later became involved in politics and held various positions within the German government.
Key Points:
- Hjalmar Schacht's expertise in economics made him a valuable asset to the Nazi regime. He was appointed as the President of the Reichsbank, Germany's central bank, in 1933.
- As President of the Reichsbank, Schacht implemented economic policies aimed at stabilizing the German economy, which was severely affected by the Great Depression. He introduced the New Plan, a series of economic reforms that included currency stabilization and increased government control over the economy.
- Schacht's economic policies helped Germany recover from the economic crisis, leading to a period of economic growth and reduced unemployment. However, his policies also prioritized rearmament and military spending, which ultimately contributed to Germany's preparation for war.
- Despite his initial support for the Nazi regime, Schacht became increasingly critical of Adolf Hitler and his policies. He opposed Hitler's autocratic leadership style and was eventually removed from his position as President of the Reichsbank in 1939.
- After his dismissal, Schacht was involved in various diplomatic and economic initiatives, including attempts to negotiate peace with the Allies during World War II. He was arrested by the Allies after Germany's surrender in 1945 and faced charges at the Nuremberg Trials. However, he was acquitted of war crimes and later became an influential figure in post-war German politics.
In conclusion, Hjalmar Schacht was an economist who played a crucial role in shaping the economic policies of Nazi Germany. While his expertise helped stabilize the German economy during a time of crisis, his association with the Nazi regime remains a controversial aspect of his career.
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