Was The Economy Of The 1945 Federal Republic Of Germany Was Successful? [20 Marks}

How accurate is it to say that following 1945 the economy of the Federal Republic of Germany was continually successful?The 1945 economy of the Federal Republic of Germany was continually successful. In 1948 Ludwig Erhard believed in the idea of a social market economy, allowing Germany to recover from World War II. Furthermore, Erhards idea of co-determination also aided in the economic growth throughout the Federal Republic. The Marshall Plan also aided in the German economic success, as it allowed Germany to purchase essential equipment it needed to recover. Finally, the Korean War sparked a need for supplies, which Germany provided, boosting the economy once again. All of these points demonstrate the continuous economic success throughout the Federal Republic, there were economic crises during the Federal Republic, including both oil crises, however they were overcome due to the strong economy of the Federal Republic. Ludwig Erhard was the German Minister for Economics in the Federal Republic, laying the foundations for a continually successful economy in Germany. His idea of a social market economy was influenced by Walter Eucken’s “social free market”. This idea brought free market capitalism, while also allowing government involvement to ensure the system would