The German Economic Miracle

Indianapolis, IN

After the World War II, Germany was in a time of economic turbulence. Most aspects of the economy were underdeveloped and impoverished. For example, 20 percent of the housing was destroyed at the end of the war, food production per capita in 1947 was only 51 percent of the level ten years earlier, and the majority of Germans working age men were killed. The whole world at the time believed that Germany would be large recipient of financial assistance for the forseeable future. All this being said, 20 years later, the German economy was gaining significant ground and it was envied by other developed countries for the time. Currently, Germany has the fourth largest nominal GDP, is the world's third largest exporter, and Germany is the largest capital exporter in the world. The rapid growth of the German economy post-World War II iscolloquially known as the German Economic Miracle, and this presentaion will adresss the intricacies and reasons why this specific economic revival took place.