Best economic progress since WWII - Essay Example

Comments (0) Cite this document
However, German underwent through several years of economic challenge after the Second World War. Most of their homes and properties were immensely destroyed. Most notably, the highest population in Germany lacked food to…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.6% of users find it useful
Best economic progress since WWII
Read TextPreview

Extract of sample "Best economic progress since WWII"

Best Economic Progress since WWII Best economic progress since WWII took place in Germany. However, German underwent through several years of economic challenge after the Second World War. Most of their homes and properties were immensely destroyed. Most notably, the highest population in Germany lacked food to sustain their lives. Consequently, after the Second World War, most political and economic leaders put all efforts to restore the negatively impacted economy. It’s per capital disposable income immensely grew to $ 10,837 in 1979 from $1,186 in 1960 (William 56). It continually contributed to export surpluses. However, its economic growth did not translate into military might since its international status was regulated by treaty powers. Indeed, German’s economy has successfully grown since the World War II.
Germany did not act as decisive leader, but projected itself as a good team player, in the international affairs. The increased levels of Germany economy after the World War II, was caused by elimination of price controls, reduction of marginal tax rates, and currency reforms, between 1948 and 1949 (William 48). Before the year 1948, Germany was controlled by rationing and price controls. Price controls and rationing, which existed before 1948, were meant to buy raw materials at artificially low price. Most Germans lacked enough food due to price control on food. Currency reform, in Germany, was pioneered by Ludwig Erhard. He was determined to shape a successful economy in Germany. The currency reform led to the abolition of Reichsmark. As a result, a new currency-deutsche mark- was introduced. The currency reform was installed on 20 June 1948. Most Nazi and occupation regulations and rules were abolished to usher in a new economy; currency reform aimed at the provision of valuable store, and accepted legal tender. It also laid a foundation for West German State and economy (William 78).
The economy of German has immensely grown, thanks to the currency reforms and elimination of price controls. It is growth, after the Second World War, was better than that of Britain and France.
Work Cited
William, Duiker. Contemporary World History. (5 ed). Boston: Suzanne Jeans, 2010. Print. Read More
Cite this document
  • APA
  • MLA
(“Best economic progress since WWII Essay Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from
(Best Economic Progress since WWII Essay Example | Topics and Well Written Essays - 250 Words)
“Best Economic Progress since WWII Essay Example | Topics and Well Written Essays - 250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Best economic progress since WWII

China Economic Growth Since 1949

...?China Economic Growth Since 1949 Impressive economic achievements of the PRC are second largest in the world. Republic of china is the fastest growing economy having consistent growth rates of around 10% over the past 30 years. China is largest exporter and 2nd largest importer worldwide. In 2010 Republic’s per capital GDP was $7, 544. The coastal areas of china are being the major part of its economic importance rather than hinterlands which are under developed. After the founding of Republic of China in 1949, the first three decades carried out under planned economic targets. Whereas the last three decades, mainly the result of the radical reform of...
9 Pages(2250 words)Research Paper

Examine United States Foreign Policy SInce WWII

..., economic and social system so they are cooperative in the long run. The Soviet system was a complete opposite to that of America and the cold war began. American approach to the world order was to encourage free trade for the global economy to progress and flourish. It desired all nations to be democratic and free which was the complete opposite of what the USSR desired. As the soviet influence started spreading the Truman doctrine triggered the US to achieve a new objective: to stop the spread of communism. This marked the beginning of the cold war- the beginning of biggest arms buildup that the world has witnessed to date. Although the cold war was not fought directly between the two powers, it was...
15 Pages(3750 words)Term Paper

Agriculture's importance economic progress

...of the developing countries. The production, productivity and growth of the agro-related industries like cotton, sugar, tobacco and non-edible oils are highly dependent on the production and productivity of the agriculture. Since economic soundness and development of industries are dependent upon industrial production, the phase and the pace of the industrial development may directly dovetail with the agricultural sector in most of the developing countries. If there doesn’t exist much scope for the rapid expansion of agricultural sector then it will have a direct bearing upon the industrial sector as well seriously hampering the possibilities for a massive industrialization(Stringer, 2001). The positive...
9 Pages(2250 words)Essay

Latin America's Economic Progress

...? Latin America’s Economic Progress The economic progress in Latin America since independence in the early 19th century has been disappointing. At the time of independence, it was perceived that due to the abundance of resources and labor, the region would achieve rapid economic growth but this perception never realized. There are a number of reasons that have been presented by so many experts that account for the lack of self-sustaining economic stability and the standard of living of the citizens of the region. Following are some of those reasons: Political Environment One of the main reasons behind the disappointing...
3 Pages(750 words)Essay

Russian Economic Growth since 1998

...Russian Economic Growth after the 1998 Financial Crisis Russian Economic Growth after the 1998 Financial Crisis The largest country in the world, The Russian Federation has received its share of criticism over the past few hundred years; from the days of the land hungry monarchs to the Revolution of 1917, right up until the 1990's when the Soviet Union broke and laid Russia and its counterparts bare to the scrutiny of the Western world. After years of harsh monarchical rule and nearly one hundred years of highly controversial communist dictatorship, Russia is struggling under the pressure to redeem itself as a viable and strong nation. Poverty, deprivation and social exclusion have all been pinpointed...
10 Pages(2500 words)Essay

International Economic History since 1870

...and July 22 of 1944 at Bretton Woods( the USA) was attended by the representatives of more than forty countries and led to the creation of Bretton Woods financial system.1 New system was aimed to replace gold standard system which had been maintained since the end of the 19th century. The plan of new economic financial system produced by the United Kingdom and the USA was aimed to remedy some imbalances of pre war economic financial system of gold standard. Such huge economic problems as the volatility of the floating exchange rates, dependence of the countries on the adjustment mechanisms, had been frequently resolved either by recession and deflation or by...
4 Pages(1000 words)Essay

International Economic History Since 1870

...for the meteoric economic rise of Japan. Perhaps this can best be summed up in the words of one Japanese economist, “Japan is an example of a fantastically creative response to defeat….[which] brought about….a far greater scale of devastation in the economy of Japan, necessitating a fresh renovating start in almost every aspect.” (Tsuru, 1993, p 67) Analysis: The long period of Tokugawa rule could be viewed as an isolationist state, or as some researchers have postulated a period of peace and stability that fostered initiatives by the State to improve economic conditions within the country (Ohkawa and Rosovsky, 1973). During the period of enforced isolation, the economy of Japan was...
6 Pages(1500 words)Essay


...Three Defining Events after WW-II 23 April Introduction This paper looks at three momentous events or developments which greatly influenced and defined the social, political and economic landscape of the world. These events continued to exert their influence on how world events are being shaped today and into the near future. The three defining events are the invention of the birth control pill (social and sexual mores), the Bretton Woods agreement (economic) and the Civil Rights Movement (political rights). Each of these events is discussed below and how they impact our lives today. Discussion Sexual revolution – it was largely brought about by the invention of the contraceptive pill or more popularly...
2 Pages(500 words)Essay

Economic progress and the environment

...Economic progress and the environment The question that perturbs me is that why are the climate related disasters increasing ever since the dawn of industrialization? Is economic progress more important than the environment? The people involved, directly or indirectly in industrial activities argue that they take appropriate measures to protect the environment even if it has to be on the cost of their economic benefits. If environment is their major concern, why is that their net profits are increasing along with the climatic issues? The rise in the climatic disasters and the resulting losses of lives and money in the past two decades is up to an alarming level. According to the Report from the UN Office for the Coordination... , water vapor...
2 Pages(500 words)Admission/Application Essay

Economic Development Strategies of China after WWII

...economy. At the same time, Deng was correctly cautious about these SEZs, so that he limited this experiment with SEZs to only certain areas. Outside these zones, China continued to function as a Communist, state-dominated, closed economy. Deng limited this strategy because although he wanted SEZs to facilitate foreign trade, entry of foreign-owned enterprises, and attract investment and technology, he wanted to protect “the vast majority of the economy from any possible destabilization the outsiders might cause” (Schuman 143). Although, these two different economic Chinas existed, it was only for a short period. This is because, as SEZ reforms progressed and started to give benefits, Deng and the Chinese...
6 Pages(1500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Best economic progress since WWII for FREE!

Contact Us