ABSTRACT
The post-war export zealots are guilty of intellectual plagiarism. Many of the export incentives and protectionist devices are merely refinements of techniques first employed by Hjalmar Schacht, Germany's economic wizard. Rarely do the acknowledge the academic debt which the owe to an outstanding innovator in international trade. Thanks to the bilateral treaties, Germany succeeded to a large extent to pay for many of its imports with second-class exports which it otherwise would have found difficult to sell in foreign markets. Historically, however, Schacht will always be remembered for his initiatives to negotiate bilateral treaties. The underlying concept was for Germany to acquire goods from countries that in turn were buying German goods. Schacht also pioneered the Import Entitlement Schemes which are so popular in Latin America and Asia. German exporters were automatically given import licences for part of the value of their exports.
