Reasons for the economic miracle

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MARSHALL PLAN.

  • Confidence for investment.
  • Adenauer in stronger position.
  • National stability.
  • GDR received less Marshall aid than most countries.
  • Not the sole reason for economic miracle: 16 countries received the aid.

SOCIAL MARKET ECONOMY.

  • Ministry of Housing: tax incentives for companies and rebuilt infrastructure.
  • 19 50s: full employment in FRG. unemployment at 0.5%.
  • Free markets could operate, worker's rights strengthened at same time.
  • Limited state intervention in economy.

OVERALL PROSPERITY.

  • Generous social welfare meant higher living standards.
  • 19

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