This book goes behind the story of the Federal Republic of Germany to examine the principles underpinning the "economic miracle". It examines the intellectual origins and history of the concept of the Social Market Economy, and its implementation in the years of post-war devastation and recovery.

The Social Market Economy remains the official policy of the Federal Republic today, and must face up to new challenges in the former German Democratic Republic. A. J. Nicholls's study makes an important contribution to our understanding of the historical dynamics of the German economy and the political culture of the Federal Republic.