“What were the important components of Germany’s Economic Miracle?”
After World War II the German economy was destroyed and in shambles. Germany could no longer afford to import food causing starvation, around 40% of their food was imported before the war. The German citizens were allowed roughly 1200 calories per day. Their currency was worthless because of all the inflammation that happened after World War II. Because of this people were using their cigarettes as currency. Their cigarettes were more valuable than their actual money.
While this was happening the Allies suspected that a revolt would happen soon if their chances for survival kept decreasing. So the two main men who would help solve this problem were Ludwig Erhard and Lucious D Clay. They carried out the new system of Deutschemarks, which was the new official currency that would be implemented. Lucious D Clay was the governor of the American zone, Ludwig Erhard was a German Politician who closely followed and agreed with Wilhelm Ropke. Wilhelm Ropke was an economic professor who did not agree with the Nazis and thought the only way for Germany to flourish again was through free economic trade.
On June 30th, 1947 the Deutschemark currency was added to the German economy and instantly Germany had become more stable. There was food on shelves, when the previous day there had been nothing. No longer did people need to use cigarettes as their money and the currency they had was useful and had value. After World War II ended their ability to produce goods spiked around 35% higher. This currency worked so well that West Germany implemented the Deutschemark currency into their system, leaving the German citizens far better of with a chance of survival.