The Wirtschaftswunder, 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. The expression referring to this phenomenon was first used by The Times in 1950.
The Volkswagen Beetle was an icon of post-war West German reconstruction. The pictured example was a one-off version manufactured to celebrate the production of a million cars of the type.
German refugees from the east in Berlin in 1945
War damage in a German city in Saxony in 1945
Mooserboden reservoir, Kaprun, 1968
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone.
New York City, the world's principal fintech and financial center and the epicenter of the world's principal metropolitan economy
Frankfurt Stock Exchange in 2015
