The Fading Miracle
Four Decades of Market Economy in Germany

This updated paperback edition describes West German economic policy from the late 1940s to the present.

Herbert Giersch (Author), Karl-Heinz Paqué (Author), Holger Schmieding (Author)

9780521358699, Cambridge University Press

Paperback, published 10 November 1994

320 pages, 29 tables
22.9 x 15.3 x 1.7 cm, 0.462 kg

'This is a first-class survey of a very important topic - informative, clear, accurate, very well-written, and always interesting.' Andrea Boltho, The Economic Journal

The Fading Miracle provides a lucid account of economic policy in West Germany from the late 1940s up to the present. First published in hardback in 1992, this paperback edition has been updated to include events since then. The authors describe and evaluate the major policy controversies and decisions, and place particular emphasis on the characteristically German institutions of policy counselling and their role in policy formation. The book will be of interest to students and teachers of economics, and to all those with an interest in the development of the greatest economic power in Europe.

Preface
1. Stylised facts 1948–1989
2. 1945–1948: establishing a liberal order
3. 1948–1960: spontaneous growth
4. 1960–1973: towards managed growth
5. 1973–1989: Facing the slowdown
6. Two cheers for German unification
7. A new miracle?
References.

Subject Areas: Macroeconomics [KCB]