Wirtschaftswunder in the context of "Economic history of Germany"

Ordoliberalism is the German variant of economic liberalism that emphasizes the need for government to ensure that the free market produces results close to its theoretical potential.

Ordoliberal ideals became the foundation of the creation of the post-World War II German social market economy and its attendant Wirtschaftswunder. The term "ordoliberalism" (German: Ordoliberalismus) was coined in 1950 by Hero Moeller [de] and refers to the academic journal ORDO.

The influx of refugees in Schleswig-Holstein after the Second World War was one of the biggest difficulties faced in Germany in the early post-war period. Per capita, the Province of Schleswig-Holstein of Prussia, later the state of Schleswig-Holstein, took in the second-most refugees and displaced persons from the former eastern territories of Germany between 1944 and 1947, second only to Mecklenburg-Vorpommern. This led to an economic and humanitarian crisis in the state throughout the late 1940s. The situation was only resolved in the 1950s as the Wirtschaftswunder (economic miracle) enabled physical reconstruction, raised living standards, and aided in integrating the hundreds of thousands of new residents.

The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism was a broad period of worldwide economic expansion beginning with the aftermath of World War II and ending with the 1973–1975 recession. The United States, the Soviet Union, Australia and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment.

Contrary to early predictions, this high growth also included many countries that had been devastated by the war, such as Japan (Japanese economic miracle), West Germany and Austria (Wirtschaftswunder), South Korea (Miracle on the Han River), Belgium (Belgian economic miracle), France (Trente Glorieuses), Italy (Italian economic miracle) and Greece (Greek economic miracle). Even countries that were relatively unaffected by the war such as Sweden (Record years) experienced considerable economic growth.

German nationalism (German: Deutscher Nationalismus) is an ideological notion that promotes the unity of Germans and of the Germanosphere into one unified nation-state. It emphasises and takes pride in the patriotism and national identity of Germans as one nation and one people. German nationalism, and the concept of nationalism itself, began during the late 18th century, which later gave rise to Pan-Germanism. Advocacy of a German nation-state became an important political force in response to the invasion of German territories by France under Napoleon Bonaparte. In the 19th century, Germans debated the German question over whether the German nation-state should comprise a "Lesser Germany" that excluded the Austrian Empire or a "Greater Germany" that included the Austrian Empire or its German speaking part. The faction led by Prussian Chancellor Otto von Bismarck succeeded in forging a Lesser Germany.

Aggressive German nationalism and territorial expansion were key factors leading to both World Wars. Before World War I, Germany had established a colonial empire, which became the third-largest, after Britain and France. In the 1930s, the Nazis came to power and sought to unify all ethnic Germans under the leadership of Adolf Hitler, eventually leading to the extermination of Jews, Poles, Romani, and other people deemed Untermenschen (subhumans) in the Holocaust during World War II. After the defeat of Nazi Germany, the country was divided into East and West Germany in the opening acts of the Cold War, and each state retained a sense of German identity and held reunification as a goal, albeit in different contexts. The creation of the European Union was in part an effort to harness German identity to a European identity. West Germany underwent its economic miracle following the war which led to the creation of a guest worker program; many of these workers settled in Germany which led to tensions around questions of national and cultural identity, especially with regard to Turks who settled in Germany.

Ludwig Wilhelm Erhard (German: [ˈluːtvɪç ˈʔeːɐ̯haʁt]; 4 February 1897 – 5 May 1977) was a German politician and economist who served as the second chancellor of West Germany from 1963 until 1966. Affiliated with the Christian Democratic Union (CDU), he is known for leading the West German postwar economic reforms and economic recovery (Wirtschaftswunder, German for "economic miracle") in his role as Minister of Economic Affairs under Chancellor Konrad Adenauer from 1949 to 1963. During that period he promoted the concept of the social market economy (soziale Marktwirtschaft), on which Germany's economic policy in the 21st century continues to be based.

In his tenure as Chancellor, however, Erhard lacked support from Adenauer, who remained chairman of the CDU party until 1966. Erhard failed to win the German public's confidence in his handling of a budget deficit and lacked public support for his direction of foreign policy. His popularity waned, and he resigned his chancellorship on 30 November 1966.