’ƒ BR (W ‰ ` ' $ Š R L x 0 L R d H d H „ ˆ L R M x x M Dan Simon o M x x M o r Germany's economic growth during the first decades after World War Š was 0 r o 0 a economic miracle. In 1945 the countries economy was shattered by the loss of the war H o m H . A good part of what survived was later dismantled and carried off by the victorous ) ` m i ` Allies. Within Germany there was much argument about how to rebuild the economy. x i s x Socialist politicians argued for a central government system with extensive state control. s i They also wanted to nationalize the banks and industries. Their main opponent was : i m Lugwig Erhard, a liberal economist appointed to head the office of economic affairs. % m p Erhard's concept of a socially responsive market economy based on free trade and private p q enterprise. This would be incorporated with the Marshall plan, and proved to be the right q idea. q Germans label their economy a " soziale Marktwirtschaft" social market q o economy, to show the system as it has developed after World War Š, has both a material 8 o n 8 and a social dimension. They stress the importance of the term " Market" because after P n n P the Nazi experience they wanted an economy free of state intervention . The only state h n k h role in the new West German economy was to protect the competitive environment from S...
