Latest / The History of Germany: Kingdoms, War, and Rebuilding Europe — Fexingo History
Germany's Economic Miracle and the Social Market
We left off with the cultural reckoning of Vergangenheitsbewältigung, but in Episode 244 we turn to the material miracle that allowed Germany to stand on its feet again. This is the story of Ludwig Erhard, the Minister of Economics who replaced the rationing system with a new currency and a philosophy called the Sozialmarktwirtschaft. We explore how Erhard’s decision to lift price controls on Christmas Eve 1948 sparked the Wirtschaftswunder, transforming ruined cities into industrial powerhouses while embedding social welfare into the capitalist model. You will hear about Konrad Adenauer’s…
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