Student’s Name
Institutional Affiliation
Economic condition of Germany during 1945-1955
Interviewer: Good afternoon Grandpa?
Respondent: Good afternoon.
Interviewer: Welcome, it’s a long time since you left Germany. Could you please 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, just around 1945 to 1955
Interviewer: could you please briefly describe to us generally how life was. Was it 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 the European advisory commission’s decision to delimit Germany territory. Roughly, 15 million Germans were expelled from this territory or not permitted to return.
Interviewer: could you please tell us if there was inflation and unemployment rate during that time.
Respondent: Of course, yes. Inflation was the worst. Since Germany was finned to pay for the war. On the issue of unemployment I remember was also an issue, since all factories were destroyed there was no place to search. Germany had to begin once more to rebuild what was destroyed.
Interviewer: I see the situation was not even friendly for human survival. Last question, could you please tell us in terms of recollection of what happened in terms of fiscal and monetary policies.
Respondent: In terms of monetary policy I can say the government kept promoting macroeconomic policy objectives for example price stability, stable economic growth and full employment. These policies are treated free from political influence. In terms of fiscal policy, the German government had to adjust its spending level and tax rates, which monitors and influence the nation’s economy.
Interviewer: Thanks for your time.
Respondent: Pleasure is mine
What learned from the interview?
From the interview, it’s evident that during 1945-1955, Germany faced both inflation and unemployment crises. According to Sutcliffe (2014), this was direct economic impact of the heavy expenditure and human dedication to the Second World War. The information obtained is similar to what is found in the textbook during the same period.
References
Sutcliffe, A. (2014). An Economic and Social History of Western Europe Since 1945. New York: Routledge
(Johnny Ortiz, Personal Interview, October 17, 2015).