German economist, banker, and politician, co-founder of the German Democratic Party. Schacht was born in Tingleff, Imperial Germany (now in Denmark) to William Leonhard Ludwig Maximillian Schacht and Danish baroness Constanze Justine Sophie von Eggers. His parents, who had spent years in the United States, originally decided on the name Horace Greeley Schacht, in honor of the American journalist Horace Greeley. However, they yielded to the insistence of the Schacht family grandmother, who firmly believed the child's given name should be Danish. Schacht studied medicine, philology and political science before earning a doctorate in economics in 1899. He later became Currency Commissioner and President of the Reichsbank under the Weimar Republic, and President of the Reichsbank under the Nazi regime between 1933 and 1939. Schacht was one of the primary drivers of Germany's policy of redevelopment, reindustrialization and rearmament, and was a fierce critic of his country's post-WW I reparation obligations. Released from effective service to the Nazi government in 1939, Schacht ended WW II in a concentration camp, and was tried and acquitted at Nuremberg for his role in Germany's war economy.
German economist, banker, and politician, co-founder of the German Democratic Party. Schacht was born in Tingleff, Imperial Germany (now in Denmark) to William Leonhard Ludwig Maximillian Schacht and Danish baroness Constanze Justine Sophie von Eggers. His parents, who had spent years in the United States, originally decided on the name Horace Greeley Schacht, in honor of the American journalist Horace Greeley. However, they yielded to the insistence of the Schacht family grandmother, who firmly believed the child's given name should be Danish. Schacht studied medicine, philology and political science before earning a doctorate in economics in 1899. He later became Currency Commissioner and President of the Reichsbank under the Weimar Republic, and President of the Reichsbank under the Nazi regime between 1933 and 1939. Schacht was one of the primary drivers of Germany's policy of redevelopment, reindustrialization and rearmament, and was a fierce critic of his country's post-WW I reparation obligations. Released from effective service to the Nazi government in 1939, Schacht ended WW II in a concentration camp, and was tried and acquitted at Nuremberg for his role in Germany's war economy.
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