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Unfortunately it took a couple of generations! At a macro level, everything will be fine eventually, you're right. But short term pain regardless.
by zinckiwi 6y ago
Unfortunately it took a couple of generations! At a macro level, everything will be fine eventually, you're right. But short term pain regardless.
- WalterBright 6y agoIt took from 1948 or so to the 1960s, less than one generation. Germany also had the problem of wholesale death of its men of working age. The currency was repudiated. The government at all levels had ceased to function.
- usrusr 6y agoBut there was also a lot of capital brought in from outside (which isn't quite the same as a money printing spree that happens everywhere at once) and what was left of pre-war financial elite was more concerned with keeping a low profile and pretending that they were on vacation or something like that for that last ten years than with leveraging their power into an even firmer grip. It's a very different situation and those differences could be very meaningful for the outcome.
- WalterBright 6y agoI don't see any reference to that in things about the German Economic Miracle.
- ciceryadam 6y agoAfter the 1st world war, Germany was paying crippling amounts of reparations to the winner countries. That wasn't so successful, lead to hyperinflation and the Nazi power grab. So after the 2nd world war you had the Marshall plan, debt forgiveness, and trade integration between the western European countries. This was the basis of the EU pacts that live till now.