What was Wirtschaftswunder?

Introduction The Wirtschaftswunder (“economic miracle”), also known as the Miracle on the Rhine, was the rapid reconstruction and development of the economies of West Germany and Austria after World War II (adopting an ordoliberalism-based social market economy). The expression referring to this phenomenon was first used by The Times in 1950. Beginning with the replacement… Read More


What was the Dawes Plan (1924)?

Introduction The Dawes Plan (as proposed by the Dawes Committee, chaired by Charles G. Dawes) was a plan in 1924 that successfully resolved the issue of World War I reparations that Germany had to pay. It ended a crisis in European diplomacy following World War I and the Treaty of Versailles. The plan provided for… Read More

What was the Lausanne Conference (1932)?

Introduction The Lausanne Conference was a 1932 meeting of representatives from the United Kingdom, Germany, and France that resulted in an agreement to suspend World War I reparations payments imposed on Germany by the Treaty of Versailles. Refer to Dawes Plan (1924). Background Held from 16 June to 09 July 1932, it was named for… Read More

What was the Young Plan (1929)?

Introduction The Young Plan was a programme for settling Germany’s World War I reparations. It was written in August 1929 and formally adopted in 1930. It was presented by the committee headed (1929-1930) by American industrialist Owen D. Young, founder and former chairman of Radio Corporation of America (RCA), who, at the time, was a… Read More

An Overview of World War I Reparations

Introduction Following the ratification of article 231 of the Treaty of Versailles at the conclusion of World War I, the Central Powers were made to give war reparations to the Allied Powers. Each of the defeated powers was required to make payments in either cash or kind. Because of the financial situation in Austria, Hungary,… Read More

An Overview of World War II Reparations

Introduction After World War II both West Germany and East Germany were obliged to pay war reparations to the Allied governments, according to the Potsdam Conference. Other Axis nations were obliged to pay war reparations according to the Paris Peace Treaties (1947). Austria was not included in any of these treaties. Payments According to the… Read More

What was Wiedergutmachung?

Introduction The German word Wiedergutmachung after World War II refers to the reparations that the German government agreed to pay in 1953 to the direct survivors of the Holocaust, and to those who were made to work at forced labour camps or who otherwise became victims of the Nazis. The sum would amount, through the… Read More