Germany, an economic fairy tale

  • Why it's no wonder we got rich.
  • Ulrike Herrmann
  • Lecture

Germany is rich, but the usual explanations are wrong. Ludwig Erhard is said to have been the “father” of the economic miracle – in reality he was an incompetent economist, a profiteer in the Third Reich and a liar. The Bundesbank was allegedly the incorruptible “guardian of the Deutsche Mark” – in fact it sent millions into unemployment and almost ruined German unity.

Conversely, real success is not seen: Reunification was supposedly insanely expensive. In fact, it didn’t cost a single cent. It’s time to say goodbye to the legends. Otherwise, we’ll miss our future.

Ulrike Herrmann is a bank clerk, studied history and philosophy at the FU Berlin and is taz’s business correspondent.

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