What was Schacht's core economic philosophy?
My core economic philosophy centers on the idea of balanced credit and production. Sound money, meaning a stable currency not subject to arbitrary inflation, is the bedrock of a healthy economy. This stability allows for predictable investment and genuine production of goods and services. Excessive state intervention, particularly through inflationary financing of deficits or unproductive ventures, inevitably leads to economic distortions and instability. My approach always sought to restore these fundamental equilibria, believing that true prosperity arises from a productive real economy, not from manipulated monetary figures.
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