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This study goes behind the success story of the Federal Republic of Germany since World War II to examine the principles underpinning the so-called "economic miracle". West Germany's Economics Minister, Ludwig Erhard, maintained that his social market economy worked because it consisted of sound economic principles applied with common sense and consistency. It was a serious attempt to harness the dynamic forces of free-market competition while avoiding the damaging social problems created by unfettered laissez-faire. The author examines the intellectual origins and history of the concept of the social market economy, and its implementation in the difficult years of post-war devastation and recovery in West Germany. He traces the struggle of liberal economists to assert their ideas in the unfavourable circumstances from 1933 to 1948, when they triumphed with Erhard's implementation of a policy of liberalization following currency reform. The book analyzes the extent to which West Germany's economic success was due to Erhard's policies, and assesses his attempts to attain the goals of the social market up to 1963, when he became Federal Chancellor. The social market economy remains the official policy of the Federal Republic today, and must face up to new challenges in the former German Democratic Republic. This study makes a contribution to the understanding of the historical dynamics of the German economy and the political culture of the Federal Republic.
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Review:
This work is simultaneously a study in economic thought and practice, a major contribution to the early history of the Federal Republic, and an excellent synthesis of the vast literature surrounding all these subjects. (Foreign Affairs)
About the Author:
A. J. Nicholls is Official Fellow of St Antony's College, Oxford, and University Lecturer in Modern History.
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- PublisherClarendon Press
- Publication date1994
- ISBN 10 0198204256
- ISBN 13 9780198204251
- BindingHardcover
- Number of pages435
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Freedom with Responsibility: The Social Market Economy in Germany, 1918-1963
Published by
Oxford University Press, Oxford
(1994)
ISBN 10: 0198204256
ISBN 13: 9780198204251
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Hardcover
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Book Description Hardcover. Condition: Very Good. Dust Jacket Condition: Good. 1st Edition. Very Good, unmarked book with slight bumps to head and foot of spine and corners on rear board, in DJ with creasing to top of rear panel and sunning to spine and edges of front and rear panel; DJ protected by mylar cover. Seller Inventory # 020282
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Freedom With Responsibility: Social Market Economy in Germany, 1918-1963
Published by
Clarendon Press
(1994)
ISBN 10: 0198204256
ISBN 13: 9780198204251
Used
Hardcover
Quantity: 1
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Book Description Condition: Fair. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. In fair condition, suitable as a study copy. No dust jacket. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,950grams, ISBN:0198204256. Seller Inventory # 8604478
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Stock Image
Freedom With Responsibility: The Social Market Economy in Germany, 1918-1963
Published by
Clarendon Press
(1994)
ISBN 10: 0198204256
ISBN 13: 9780198204251
Used
Hardcover
Quantity: 1
Seller:
Rating
Book Description Condition: Good. This is an ex-library book and may have the usual library/used-book markings inside.This book has hardback covers. Clean from markings. In good all round condition. Dust jacket in good condition. Please note the Image in this listing is a stock photo and may not match the covers of the actual item,950grams, ISBN:9780198204251. Seller Inventory # 8667203
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£ 54
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