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Walter Heller , a young economist with the U. Previously the tax rate on any income over 6, Deutschmark had been 95 percent.
After tax reform, this 95 percent rate applied only to annual incomes above , Deutschmark. For the West German with an annual income of about 2, Deutschmark in , the marginal tax rate fell from 85 percent to 18 percent.
The Allied dismantling of the West German coal and steel industries decided at the Potsdam Conference was virtually completed by ; equipment had then been removed from manufacturing plants in the west and steel production capacity had been reduced by 6,, tons.
West Germany proceeded quickly after to rebuild its capital stock and thus to increase its economic output at stunning rates. The very high capital investment rate thanks to low consumption and a very small need for replacement capital investments due to the still small capital stock drove this recovery during the s.
As noted by the British journalist Terence Prittie in the early Sixties:. Today the German working-man leads a comfortable life and wears a well-filled waistcoat.
He eats well, and his food — although German cooking lacks the elegance of French — is wholesome and appetizing.
He buys good clothes, and he dresses his wife and children well. He generally has money to spare for television sets, week-end excursions and football matches.
And he is not afraid of celebrating occasionally on a grander scale. Productivity growth in West Germany enabled most workers to obtain significant improvements in their living standards and 'security of life.
As real incomes rose, so public authorities were enabled and indeed encouraged to raise funds, both from taxation and through borrowing, to accelerate the rate of investment and current spending in projects which are partly immediately productive, partly conducive to the creation of the good life, as seen in Germany Any superficial examination of the German townscape, let alone perusal of the statistics, shows that Germany has spent sums on hospitals, libraries, theaters, schools, parks, railway-stations, socially-aided housing, underground railways, airports, museums, and so on which are simply not to be compared with British efforts in this direction.
In addition to the physical barriers that had to be overcome for the West German economic recovery, there were also intellectual challenges.
The Allies confiscated intellectual property of great value, all German patents, both in Germany and abroad, and used them to strengthen their own industrial competitiveness by licensing them to Allied companies.
Immediately after the German surrender and for the next two years, the U. During the more than two years this policy was in place, new industrial research in Germany was hampered because it was unprotected and freely available to overseas competitors, encouraged by occupation authorities to access all records and facilities.
Meanwhile, thousands of the best German researchers and engineers were working in the Soviet Union and in the U.
See Operation Osoaviakhim , Operation Paperclip. The Marshall Plan was only extended to Western Germany after it was realized the suppression of its economy was holding back the recovery of other European countries and was not the main force behind the Wirtschaftswunder.
Furthermore, often overlooked is the effect of the "unofficial contributions" of , U. These marks were spent within West Germany to buy food, luxury items, beer and cars, as well as entertaining the locals and for prostitutes.
The last repayment was made in June The demands of the Korean War in —53 led to a global shortage of goods that helped overcome lingering resistance to the purchase of West German products.
At the time West Germany had a large pool of skilled labour, partly as a result of the deportations and migrations which affected up to This helped West Germany to more than double the value of its exports during and shortly after the war.
Apart from these factors, hard work and long hours at full capacity among the population in the s, s and early s and extra labour supplied by thousands of Gastarbeiter "guest workers", since the late s provided a vital base for the sustainment of the economic upturn with additional workforce.
From the late s onwards, West Germany had one of the world's strongest economies. The East German economy also showed strong growth, but not as much as in West Germany, due to the bureaucratic system, emigration of working-age East Germans to West Germany and continued reparations to the USSR in terms of resources.
Unemployment hit a record low of 0. Ludwig Erhard , who served as Minister of the Economy in Chancellor Adenauer 's cabinet from until and would later rise to Chancellor himself, is often associated with the West German Wirtschaftswunder.
Austria was also included in the Marshall Plan and can thus be included in any consideration of the Wirtschaftswunder. Using West Germany as a guide, the currency was stabilised when the Schilling was reintroduced in place of the Reichsmark.Print-Werbung zeichnet sich durch eine zielgruppengenaue Ansprache aus, weil Sie bei jedem Titel einen ganz bestimmten Leserkreis ansprechen und individuell auf die Leser von Wirtschaft 10 plus mit Ihrer Print-Anzeige https://personalmedicaltreatments.co/serisses-online-casino/merkur-magie-kaufen.php können. Anyotion wollen mit Print-Werbung in Wirtschaft 10 plus auf sich aufmerksam machen? Angepasste Lösungen Händlerorganisationen. Anschnitt Satzspiegel. April 2. Immer mehr Kfz-Zulieferer werden in solche Projekte einbezogen. Wie sieht die Zukunft der Branche aus? Juli Plus. März Plus TschechienFachkräftemangelRecruitment. August Plus click Kommentare. Quelle: Verlag. Juni Plus 0 Kommentare. Die südböhmische Metropole kämpft mit dem Verkehr und dem Mangel an Fachkräften. Anschnitt findet sich deutlich häufiger. Trotz dieser Expansion ist Alfmeier ein Familienunternehmen geblieben, inhabergeführt. März Hier entlang.