economic miracle
Rapid prosperity surge
Economic miracle describes a period of rapid, sustained economic growth that transforms a nation's prosperity in ways that seem extraordinary.
The term typically applies to post-World War II recoveries like those of Germany and Japan, or later Asian economies: the Japanese economic miracle, the East Asian miracle.
The phrase implies growth so dramatic it defies ordinary explanation—though economists usually identify concrete factors like investment, trade policy, and labor mobilization.
- post-war recoveryRebuilding after armed conflict
- rising from ashesRevival after complete destruction
- industrializationTransition to factory-based economy
- Marshall PlanPostwar American economic assistance
- WirtschaftswunderPostwar German revival
market · trade surplus · factory · factory floor · assembly line · cheap labor · foreign investment · Cold War · infrastructure development · government subsidies · World War II · chaebol · made in Japan · industrial policy · post-war reconstruction · education reforms · urban migration · modernization
- economyGDP, money, inflation, inflation rate, GNP
- German HistoryNazi, Prussia, Saxony, Reichstag, Napoleonic Wars
- Italian HistoryRome, Venice, Florence, Naples, Sicily
- Korean culturekimchi, hanbok, soju, K-pop, K-drama
- 20th Century ItalyMussolini, fascism, neorealism, Christian Democrats, Marshall Plan
- Asian economyChina, Japan, South Korea, Taiwan, Hong Kong
economic miracleeconomic collapse
Catastrophic failure of finances
economic depression · financial crisis · Great Depression · hyperinflation · stagflation
economic miracleslow growth
Minimal rate of increase
economic stagnation · economic malaise · muddling through · sclerosis · treading water