German Economic Miracle

The German Economic Miracle, or "Wirtschaftswunder," refers to West Germany's rapid post-World War II economic recovery during the late 1940s and 1950s. This period saw swift industrial growth, rising incomes, and low unemployment, transforming Germany from war-damaged to prosperous. Key factors included the implementation of market-friendly reforms, the Marshall Plan aid from the U.S., a skilled workforce, and strong innovation. The result was durable economic expansion, increased consumer goods production, and improved living standards, establishing West Germany as a leading global economy within a decade.