Western Civ 2 Lesson 155: What were the important components of Germany’s Economic Miracle?

The 2 main factors were currency reform and the elimination of price controls, both of which happened over a period of weeks in 1948. Currency reforms are carried out in various ways, depending on such factors as the mode of production, the political system, the position of particular classes, and the condition of the economy of the country involved.

Erhard- father of the social market economy in West Germany, works to get the Americans and British to end Nazi and allied economic restrictions on reviving production. He also ends the currency crisis by persuading the allies to carry out a currency reform and introduce a new deutschemark.

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