WORLD HISTORY

Detailed explanation-1: -Hjalmar Schacht was an German Economist, politician and Banker. But he was famous as a founder of the German Democratic Party.

Detailed explanation-2: -[now in Germany]), German banker and financial expert who achieved international renown by halting the ruinous inflation that threatened the existence of the Weimar Republic in 1922–23. He also served as minister of economics (1934–37) in the National Socialist government of Adolf Hitler.

Detailed explanation-3: -Hitler assigned the economist, Hjalmar Schacht to recover the economy. Schacht proposed more production and more employment. He suggested a state-funded work-creation programme. The famous German superhighways and Volkswagen referred to as the people’s car is a product of this project.

Detailed explanation-4: -The Wirtschaftswunder (German: [ˈvɪʁtʃaftsˌvʊndɐ] ( listen), “economic miracle"), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II (adopting an ordoliberalism-based social market economy).