PSL Quarterly Review (Feb 2014)
Some reasons for the rapid economic growth of the German Federal Republic
Abstract
The reasons which have combined to give rise to the rapid economic growth of the German Federal Republic since the middle of 1948 are many, including the most commonly referenced ones such as currency reform, US aid, rejection of a controlled economy, the recasting of the fiscal system, etc. The present article, however, considers some other facts and developments that have played a considerable part in the increase in production in the Federal Republic which have received less attention. These factors, including the existing industrial complex, investments, retirements, growth capacity and productivity of capital, have not only been important but possibly decisive for the rapid economic recovery of the country. JEL: F43, N14, O40, O52
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