The unification of the two German states within a relatively short period of time now appears inevitable. Yet there is no historical precedent for a successful transformation from a socialist to a market economy. Doubts have been voiced by some as to whether such a transformation is possible....

Currently there is much discussion as to whether the chapter of West Germany’s post-war history popularly known as the "Economic Miracle" can be repeated in the region of the former GDR. Professor Lang presents a series of factors which encouraged the West German economic miracle at that time,...