ˈshäkˌtizəm, -äḵˌt- noun
also schact·ian·ism -_tēəˌniz-
( -s )
Usage: usually capitalized
Etymology: schachtism from Hjalmar Schacht b 1877 German financier + English -ism; schachtianism from Hjalmar Schacht + English -an + -ism; from Schacht's use of such policies as acting minister of national economy in Germany 1934-37
: trade and finance policies including exchange controls, bilateral trade agreements, multiple exchange rates, and other practices designed to benefit one nation at the expense of others