Before World War II, Germany was a revered state due to its development characterized by outstanding infrastructure, beautiful cities, and factories. However, the outlook would change dramatically after the cruel Second World War. In the aftermath of the war, Germany was no longer a once-magnificent state, but a dilapidated country with no signs of recovery. Besides the destruction of beautiful cities, factories and infrastructure, Germany also lost its sovereignty. Apparently, the United States, France, the Soviet Union, and Britain all occupied the country and put it under strict rules. The devastation caused by the war seemed to condemn Germany to an impossibly long road to reconstruction, but an "economic miracle" occurred. Since this economic event has stunned everyone, it is essential to investigate further. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”?Get the original essayThe first step toward a seemingly miraculous economic recovery was occasioned by the monetary reforms initiated in 1948. An area targeted by related reforms at the time German currency, the Reichsmark. The government replaced the worthless Reichsmark with the Deutschmark, and managed to control the hyperinflation and currency devaluation caused by the old currency. Additionally, the reforms helped eliminate the black markets that most Germans relied on for their food supply. Subsequently, a favorable relationship between the currency in circulation and the goods available was created. In short, West Germany recovered quickly – and not miraculously – thanks to replacing a worthless currency, fighting inflation, and ensuring a balance between goods and currency in circulation. Second, the relaxation of the rules by the Allied forces and the involvement of all Germans was essential for the recovery. The West German government engaged in activities suggesting that prosperity was for all. Furthermore, the Allied Forces allowed the country to revive some of its industries, contrary to a previous position. With these and other positive changes, foreign investors began to invest in the country, thereby accelerating economic growth. Ultimately, the country's economy grew at a rate no one predicted, which has been called a miraculous recovery. Additionally, the abolition of price controls imposed on the Germans by Adolf Hitler contributed to an accelerated economic recovery. Until 1948, all Germans had endured a tumultuous period brought on by the tyrant's price controls. Hitler's government bought all weapons at a ridiculously low price but controlled consumer products. Inevitably, stock markets froze and free market principles almost ceased to function in the country. However, with the removal of price controls, Germany experienced an overnight change. Throughout the 1950s, West Germany's gross national product (GNP) grew at a rate of between 7 and 8 percent, and its export earnings rivaled those of the United States. The new German government would only intervene in markets to ban cartels and curb monopolies. Keep in mind: this is just a sample. Get a personalized article from our expert writers now. Get a Custom Essay In summary, the staggering economic recovery in Western Germany can be attributed to the three critical decisions made by the..