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Out of Hitler's Shadow: Debt, Guilt, and the German Economic Miracle

Name: Out of Hitler's Shadow: Debt, Guilt, and the German Economic Miracle
Brand: Oxford University Press
SKU: 9780192849519
Price: 20.99 USD
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Contributors:

Tobias Straumann

Publisher:

Oxford University Press

Binding:

Hardcover

Book Category:

History, Business & Economics

Book Subcategory:

Wars & Conflicts, Modern, Economic History

Book Topic:

World War II, 20th Century

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The product is eligible for a complimentary return within 30 days from the date of purchase. Furthermore, individual items are shipped within 24 hours of receiving the order.

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Specifications +

Release Date:

1/8/2026

ISBN 13:

9780192849519

Weight:

0.9 lbs

Size:

8.20 x 5.40 x 1.40 inches

Pages:

288

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product description

Description

Why were the United States and its Western Allies so lenient after the most atrocious war of all times? Out of Hitler's Shadow answers this question, and considers why the Allies concluded that imposing unrealistic financial conditions on a defeated country would do more harm than good.

The destruction left by Nazi Germany was horrendous. The occupied countries had been ravaged and plundered, millions of people murdered, cities laid in ashes. There was every reason to make the defeated Germans pay for 'Hitler's debt' as The New York Times called the gigantic damage inflicted. But whereas the Soviet Union punished East Germany, the Western Allies, at the London Debt Conference (1952) decided to forgo all war-related debts. The Federal Republic of Germany - the Western successor state of Nazi Germany - had to settle no more than half of all outstanding debts stemming from pre-war obligations and post-war assistance. Only Israel and private Jewish organisations received reparations from the Federal Republic, but it was a modest amount.

These actions challenged widely held notions of justice. People who had suffered most from the atrocities committed by Nazi Germany were not compensated. The deal was unfair in many ways, but diplomats and politicians had to make hard choices. Five statesmen were particularly bold: U.S. Secretary of State Acheson, German Chancellor Adenauer, French Foreign Minister Schuman as well as Israeli Prime Minister Ben-Gurion and Foreign Minister Sharett. Tobias Straumann explains why the personalities involved deserve to be remembered for their strategic clarity in the face of enormous resistance.

About the Author
Tobias Straumann, Professor of Modern and Economic History, University of Zurich

Tobias Straumann is a professor of modern and economic history at the University of Zurich. He studied in Berkeley, Bielefeld, Paris and Zurich and held visiting positions at the University of Lausanne, the Chinese University of Hong Kong, and the University of Oxford. He has published widely on the financial and monetary history of the twentieth century, including 1931: Debt, Crisis, and the Rise of Hitler(OUP, 2019).

Out of Hitler's Shadow: Debt, Guilt, and the German Economic Miracle

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