How Economies Bounce Back From Total Collapse: The German Economic Miracle (1948-1957)

How Economies Bounce Back From Total Collapse: The German Economic Miracle (1948-1957)

After World War II the German economy was a smoldering ruin. Scorched-earth policies destroyed 20-70% of all houses. Factories, hospitals, and schools were bomb craters. Germans only ate 1,000-1500 calories a day. There was no food in the stores because price controls disincentivized shop keepers and farmers to sell anywhere except the black market.

But something happened in 1948 that changed everything. Revolutionary market changes were introduced by Minister of Economics Ludwig Erhard that overnight caused stores to re-open, factories to fire up, and delivery trucks to clog the streets. In a year, food production and domestic output skyrocketed. By 1950, journalists spoke of a Wirtschaftswunder (economic miracle). By the 1960s, West Germany’s economy was envied by most of the world and had surpassed struggling Great Britain.

In today’s episode, we look at how economies manage to rebuilt after total devastation. How do you rebuild a factory when the roads are blown up, there are no materials available to make it, and hyperinflation has made the money so worthless that nobody will hire you? How do you restart a nation’s economic engine when there are no parts? The example of Western Germany is a good answer to many of these questions.

See omnystudio.com/listener for privacy information.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(1107)

The Wunderkind George Forster: Voyaging with Captain Cook at 10 and Dining with Benjamin Franklin in Paris in his 20s

The Wunderkind George Forster: Voyaging with Captain Cook at 10 and Dining with Benjamin Franklin in Paris in his 20s

A ten-year-old boy gallops across the Russian steppe on a Kalmyk horse, collecting plants for his father while German settlers starve in earth dugouts along the Volga. Seven years later, that same boy...

30 Jul 43min

Every 2 Weeks a Language Dies: Whether By Assimilation or Targeted Extinction

Every 2 Weeks a Language Dies: Whether By Assimilation or Targeted Extinction

When the 7.8 magnitude earthquake tore through southeastern Turkey in 2023, the government posted that it would provide translation support in seven languages: Turkish, Arabic, Persian, English, Russi...

28 Jul 59min

The Boston Tea Party Was a Protest Against the East India Company Being Too Big to Fail

The Boston Tea Party Was a Protest Against the East India Company Being Too Big to Fail

The Boston Tea Party is the most misunderstood event in American history. Every schoolchild learns it was an antitax protest, proof that Americans have always hated paying taxes. But the Tea Act of 17...

23 Jul 48min

The 1873 Global Financial Meltdown that Cause 20 Years of Deflation and Destroyed 2 Empires

The 1873 Global Financial Meltdown that Cause 20 Years of Deflation and Destroyed 2 Empires

On May 9, 1873, as the Vienna Stock Exchange collapsed and thousands of speculators were wiped out in a single afternoon, young Salbert von Rothschild and two colleagues from the Schey and Goldschmidt...

21 Jul 44min

Johnny Appleseed's Trees Were for Booze, Not Pies, and He Dressed Like a Hobo for Marketing Purposes

Johnny Appleseed's Trees Were for Booze, Not Pies, and He Dressed Like a Hobo for Marketing Purposes

The Disney version of Johnny Appleseed has a cheerful barefoot man in a tin pot hat scattering apple seeds for grateful pioneers to bake into pies. The real John Chapman collected his seeds for free f...

16 Jul 53min

All the World’s Empires Became Nations in Less Than 100 Years, and What That Means for the Next 100

All the World’s Empires Became Nations in Less Than 100 Years, and What That Means for the Next 100

For the last 5,000 years, empires ruled the world — Rome administered hundreds of languages across three continents, and the Ottomans governed Christians, Jews, and Muslims under a single legal canopy...

14 Jul 49min

Five Cambridge Graduates Became Soviet Spies and Built Stalin’s Empire

Five Cambridge Graduates Became Soviet Spies and Built Stalin’s Empire

The Cambridge Five did more damage to the Western Bloc than any other intelligence outfit of the Cold War. They were five Cambridge graduates who drank gin at the right clubs, moved through the right ...

9 Jul 58min

Washington’s Power Went Beyond President or General – He Was a Full-Fledged Patriarch

Washington’s Power Went Beyond President or General – He Was a Full-Fledged Patriarch

Washington was the perfect man for an impossible moment — aristocratic enough to command the respect of erudite founders like Hamilton and Jefferson, yet only a mid-level Virginia planter who understo...

7 Jul 54min

Populært innen Samfunn

rss-spartsklubben
giver-og-gjengen-vg
konspirasjonspodden
aftenpodden
rss-nesten-hele-uka-med-lepperod
popradet
rss-henlagt-andy-larsgaard
alt-fortalt
wolfgang-wee-uncut
grenselos
bokmerket-2
aftenpodden-usa
rss-dette-ma-aldri-skje-igjen
fladseth
rss-siktet
rss-frekvens-med-anine-olsen
lydartikler-fra-aftenposten
198-land-med-einar-trnquist
rss-herrepanelet
relasjonspodden-med-dora-thorhallsdottir-kjersti-idem