Wirtschaftswunder


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Wirtschaftswunder

The rapid development in West Germany and Austria following the devastation of World War II. The Wirtschaftswunder saw low inflation and quick growth in industrial production starting around 1950. The impetus for the Wirtschaftswunder came from replacement of the Reichsmark with the deutschemark (in West Germany) and the schilling (in Austria), as well as the development package offered by the United States in the Marshall Plan.
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References in periodicals archive ?
Immigrants were guests, in some ways, and in the German case they were even called that: Gastarbeiter ("guest worker") is the term for the Italians and Turks, mostly, who came starting in the 1960s to work in German factories, helping create the Wirtschaftswunder, the German economic success after the war.
He will know all about the term Wirtschaftswunder, first coined by The Times newspaper in 1950 to describe the miraculous post-war recovery of Germany.
The story begins in the 1960s, when Germany was in the midst of 'Wirtschaftswunder', the economic miracle, and invited immigrants from the world over to come to Germany for job opportunities.
Ate meados dos anos 1960, a Alemanha Ocidental, territorio dividido em zonas de ocupacao pelos Aliados (Estados Unidos, Franca e Reino Unido) e pela construcao do Muro em Berlim (1961), sob governo do chanceler federal Konrad Adenauer e posteriormente de Ludwig Erhard (1), vinculados a Uniao Democrata Crista (CDU), ainda vivia efeitos do "milagre economico" (Wirtschaftswunder) fundado na ideia de economia social de mercado, um projeto inspirado no ordoliberalismo.
It enabled the West German and Austrian postwar Wirtschaftswunder and the phenomenal growth of the "Asian Tigers" in the shadow of Soviet and Chinese communism, and nurtured liberal democracy in Europe and Asia.
The promotion of Merkel critics to cabinet posts, together with insubordination further down the hierarchy--the so-called 'WerteUnion', an explicitly Merkel-critical group with a programme of unreconstructed nationalism, pre-1960s family values and Wirtschaftswunder economics launched in March 2017--may be indications of a Straussian realignment in the CDU.
The Ministry of International Trade and Industry perfected the art of state-subsidised credit allocation and tariffs to protect Japan's sunrise industries, an effort that was matched by Germany's equally impressive Wirtschaftswunder, augmented by strong support for the Mittelstand of small and medium-size enterprises.
The German "wirtschaftswunder" (economic miracle) following WWII was helped by supportive social programmes.
West German enterprises gained from cheap labor in the East but there has not been another Wirtschaftswunder in the East, where unemployment is much higher than in the West (over 10 percent versus 6 percent in 2017).
Voters in the home of the postwar Wirtschaftswunder (economic miracle) are proud that they have the eurozone's strongest economy, which is prospering.
Michele Calafiore's story symbolises that of hundreds of thousands of southern Italians who emigrated to Germany during the Wirtschaftswunder of the late 1950s and 1960s.