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Seminar paper from the year 2014 in the subject Business economics - Economic Policy, grade: Very Good (1,3), University of Glasgow (Adam Smith Business School), course: Growth and Development, language: English, abstract: This essay deals with the story of economic growth of post-WWII Germany. Devastated in terms of material loss and human well-being, Germany put its name in the books of economic history as a success story of development. The 'Wirtschaftswunder' (Economic Miracle) that started in the early 1950s is a topic that has been intensely studied by scholars. This essay will briefly describe some facts prior to World War II and the extent of loss during the war. The following part will highlight some data about the growth and explain how this was achieved.
This exploration of the statistical evidence on Germany's post-war reconstruction sheds new light on the foundations of German economic power.
The purpose of this paper is to analyze the West German economy to find the reason for “Wirtschaftswunder,” the German economic miracle, and contrast the decisions made after WWII to those made after WWI. The approaches of foreign powers in these periods are also analyzed. After WWI, the subsequent hyperinflation and economic collapse is mainly found to be a result of poor economic decisions within German institutions, although the collapse was almost certainly supplemented by poor foreign policy decisions by the Allied Powers. Wirtschaftswunder was made possible by Ludwig Erhard’s reforms, which are found to have been much more important to West Germany’s success and successful denazification than the Marshall Plan. The best plan for economic recovery for Germany was one of least economic interference. In the years immediately following WWII, the Allied Powers were extremely influential in governmental institutions, but this was only to help stabilize the devastated country for a short period of time after the war and help rebuild its political institutions so it could return to self-governance. West Germany’s economy was allowed to grow, unhindered by large reparations payments, catching up to its productivity capacity that was never truly eliminated by Allied bombing during the war.
Through an examination of election campaign propaganda and various public relations campaigns, reflecting new electioneering techniques borrowed from the United States, this work explores how conservative political and economic groups sought to construct and sell a political meaning of the Social Market Economy and the Economic Miracle in West Germany during the 1950s.The political meaning of economics contributed to conservative electoral success, constructed a new belief in the free market economy within West German society, and provided legitimacy and political stability for the new Federal Republic of Germany.
This book provides a new quantitative view of the wartime economic experiences of six great powers; the UK, the USA, Germany, Italy, Japan and the USSR. What contribution did economics made to war preparedness and to winning or losing the war? What was the effect of wartime experiences on postwar fortunes, and did those who won the war lose the peace? A chapter is devoted to each country, reviewing its economic war potential, military-economic policies and performance, war expenditures and development, while the introductory chapter presents a comparative overview. The result of an international collaborative project, the volume aims to provide a text of statistical reference for students and researchers interested in international and comparative economic history, the history of World War II, the history of economic policy, and comparative economic systems. It embodies the latest in economic analysis and historical research.
This collection of essays covers themes central to German economic history while considering their interaction with other historical phenomena. Among the essays Borchardt considers Germany's late start as an industrial nation, the West-East developmental gradient, key patterns of long-term economic development, and unusual changes in the phenomena of business cycles. The collection also contains the essays which have become the subject of so-called 'Borchardt controversies', in which hypotheses are presented on the economic causes of the collapse of the parliamentary regime by 1929-30, at the very end of the 'crisis before the crisis'. He also explains why there were no alternatives to the economic policies of the slump, and in particular why there was no 'miracle weapon' against Hitler's seizure of power. These are among the most original and stimulating contributions of recent years to the economic history of modern Germany and will be of interest to anyone who ponders deeply the meaning of history.
Europe and much of the developed world have been bogged down by stagnant economic growth and alarmingly high rates of unemployment. But not Germany. This book reveals seven key aspects of the German economy and society that have provided considerable buoyance in an era of global turbulence.
West German Industrialists and the Making of the Economic Miracle investigates the mentality of post-war German (heavy) industrialists through an analysis of their attitudes, thinking and views on social, political and, of course, economic matters at the time, including the 'social market economy' and how they saw their own role in society, with this investigation taking place against the backdrop of the 'economic miracle' and the Cold War of the 1950s and 60s. The book also includes an assessment of whether the self-declared, new 'aristocracy of merit' justified its place in society and carried out its actions in a new spirit of political responsibility. This is an important text for all students interested in the history of Germany and the modern economic history of Europe.
The 'German Question' dominated much of modern European history. In 1945, Germany was defeated and conquered. Yet, the Second World War did not destroy the foundations of her economic power. Dr Tamás Vonyó revisits Germany's remarkable post-war revival, tracing its roots not to liberal economic reforms and the Marshall Plan, but to the legacies of the war that endowed Germany with an enhanced industrial base and an enlarged labour force. He also shows that Germany's liberal market economy was in reality an economy of regulated markets, controlled prices and extensive state intervention. Using quantitative analysis and drawing on a rich historiography that has remained, in large part, unknown outside of Germany, this book reassesses the role of economic policy and the importance of wartime legacies to explain the German growth miracle after 1945 and the sharply contrasting experiences of East and West Germany.