Full Description:
The Economic Miracle refers to the dramatic recovery fueled by currency reform, the elimination of price controls, and the influx of foreign capital. It serves as the primary success story of the post-war liberal order, demonstrating the stabilizing power of integrating a defeated nation into the global market rather than punishing it with reparations.

Critical Perspective:
While often attributed solely to “hard work” and free markets, this miracle was a geopolitical project. The rapid re-industrialization of Germany was strategically necessary to create a strong buffer state against the East. Critics note that this stability was bought at a moral price: the urgency of rebuilding often meant reintegrating former regime officials and industrialists into the new economy, effectively prioritizing efficiency over justice.