Interview about Past Economic Conditions

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Interviewabout Past Economic Conditions

Economiccondition of Germany during 1945-1955

Interviewer: Good afternoon Grandpa?

Respondent: Good afternoon.

Interviewer: Welcome, it’s a long time since you left Germany. Could youplease remember the time and how it was, after the Second World War?

Respondent: Thanks. Yes, I do remember very well. That time I was 23years old.At that time, in Germany there was a harsh economic crisis, justaround 1945 to 1955

Interviewer:could you please briefly describe to us generally how life was. Wasit hard or how exactly was?

Respondent:On my view, life was difficult. It terms of economic condition,Germany lost what all had gained after the war. This was due to theEuropean advisory commission’s decision to delimit Germanyterritory. Roughly, 15 million Germans were expelled from thisterritory or not permitted to return.

Interviewer:could you please tell us if there was inflation and unemployment rateduring that time.

Respondent:Of course, yes. Inflation was the worst. Since Germany was finned topay for the war. On the issue of unemployment I remember was also anissue, since all factories were destroyed there was no place tosearch. Germany had to begin once more to rebuild what was destroyed.

Interviewer:I see the situation was not even friendly for human survival. Lastquestion, could you please tell us in terms of recollection of whathappened in terms of fiscal and monetary policies.

Respondent:Interms of monetary policy I can say the government kept promotingmacroeconomic policy objectives for example price stability, stableeconomic growth and full employment. These policies are treated freefrom political influence. In terms of fiscal policy, the Germangovernment had to adjust its spending level and tax rates, whichmonitors and influence the nation’s economy.

Interviewer:Thanks for your time.

Respondent: Pleasure is mine

Whatlearned from the interview?

Fromthe interview, it’s evident that during 1945-1955, Germany facedboth inflation and unemployment crises. According to Sutcliffe(2014), thiswas direct economic impact of the heavy expenditure and humandedication to the Second World War. The information obtained issimilar to what is found in the textbook during the same period.

References

Sutcliffe,A. (2014). AnEconomic and Social History of Western Europe Since 1945.New York: Routledge

(JohnnyOrtiz, Personal Interview, October17, 2015).