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Considerations on currency reform in Germany after World War II

Author

Listed:
  • Judyta przyluska-schmitt
  • Dorota Jegorow
  • Tamás Szigetvári

Abstract

This article is theoretical and presents the currency reform of June 20, 1948,which laid the basis for the reconstruction and rebirth of the West German economy afterWorld War II. The authors analyze the conditions related to the need to carry out the reform,emphasizing the role and interests of the United States in this undertaking. It is widely believed that the reform gave rise to impressive economic growth, the so-called “economic miracle”that no one could have predicted before. A closer analysis, however, shows that the initialaim was not to pave the way for an economic miracle, but it was rather a meticulouslyprepared plan of action by the American superpower to strengthen its position in the worldand limit the influence of the socialist idea. Therefore, this paper seeks to explore the hypothesisthat the currency reform in post-WWII Germany was primarily aimed at securing Americandominance and limiting Soviet influence. JEL Classification: P16; E42; E52.

Suggested Citation

  • Judyta przyluska-schmitt & Dorota Jegorow & Tamás Szigetvári, 2024. "Considerations on currency reform in Germany after World War II," Brazilian Journal of Political Economy, Center of Political Economy, vol. 44(4), pages 802-812.
    • Handle: RePEc:ekm:repojs:v:44:y:2024:i:4:p:802-812:id:2484
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/2484/2416
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    More about this item

    Keywords

    Currency reform; political economy; monetary policy; Germany; World War II;
    All these keywords.

    JEL classification:

    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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