Answer:
A man called Ludwig Erhard, an economist educated at the University of Frankfurt and a disciple of free-market economics advocate Walter Eucken (a major influence on his economic thought), was put in charge of the economy of the Western occupied zone of Germany.
In 1948, he started to promote free market policies and at the very beginning of his term in office, he announced two key measures: the introduction of a new currency and the elimination of prices and wages control. Shortly after the new measures, the German economy started to recover and revived: employment rose, store shelves became full with goods, and German people´s productivity got a powerful stimulus. The industry got new life.
After WWII, Germany laid in ruins, with cities destroyed, occupied by foreign powers and with grim perspectives. But in the 1950s, it was growing significantly again; in the 1960s, Germany became the third largest economy of the world. The Wirtschaftwunder or the German "economic miracle" had been achieved.
Explanation:
