Germany’s postwar success depended on external macroeconomic favors rarely acknowledged by German policy makers

Evidence

The fact that all of this was made possible by an astonishingly favorable macroeconomic context—the Bretton Woods international monetary system and American acceptance of an undervalued Deutschmark given Germany’s strategic position in the Cold War—should also be acknowledged. It seldom is, however, especially among German policy makers. — Mark Blyth, Austerity, 908

Categorization

• XREF: Complements Mattei’s austerity critique by showing how an exemplar economy (Germany) depended on external conditions its own discourse erases. Also connects to the broader ordoliberal-exceptionalism literature Blyth critiques. — connects to: The German Miracle stemmed from postwar rebuilding, not pro-market reforms — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 588; German prosperity and external threats made liberal reform seem less urgent — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 328; Germany’s postwar boom was financed by money creation, not foreign aid — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 143 (+1 more)

Broader Connections

• Germany’s postwar boom was financed by money creation, not foreign aid #complicates (0.80) — Fanny Pigeaud_ Ndongo Samba Sylla, Africa’s Last Colonial Currency, 143
• German prosperity and external threats made liberal reform seem less urgent #expands (0.72) — Cedric J. Robinson, Black Marxism_ The Making of the Black…, 328