Lecture 5 - Liberalism: Getting the economy to work Flashcards
1
Q
Explain Germany’s economic situation post WWII
A
Post WWII Germany faced economic devastation, high unemployment and a lack of resources
2
Q
Briefly explain who Ludwig Erhard was and what he acheived
A
Ludwig Erhard was appointed as Economics Minister (1949) and later Chancellor (1963). Erhard’s policies transformed Germany’s economy
He achieved an economic miracle as he stimulated rapid economic growth and industrial revival, with Germany achieving high standards of living by the late 1950s
3
Q
A
