Edward A. Tenenbaum and the Deutschmark: How an American Jew Became the Father of Germanys Postwar Economic Revival [Hardcover]

Elevates Tenenbaum to his proper place in West Germany's economic history and demystifies Ludwig Erhard's claim to the Deutschmark 1948.Edward A. Tenenbaum was an exceptionally talented American in troubled times. This biography is written for readers interested in Secret Service and World War II as well as post-war Marshall-Plan and development-aid history. With his currency reform in West Germany 1948, Tenenbaum laid the foundation of West Germany's 'economic miracle.'Edward A. Tenenbaum was an exceptionally talented American in troubled times. This biography is written for readers interested in Secret Service and World War II as well as post-war Marshall-Plan and development-aid history. With his currency reform in West Germany 1948, Tenenbaum laid the foundation of West Germany's 'economic miracle.'German industry had survived Allied bombing largely unscathed. Currency reform was necessary to provide incentives for capital owners and labor to produce. The abundance of old Reichsmarks had to be curtailed to a scarce supply of Deutschmarks that users would expect to retain value. It was Edward A. Tenenbaum, currency expert of US military government in Berlin since 1946, who managed the exceptionally successful currency reform in West Germany 1948, which was implemented by the legislative powers of the three Western Allies against opposition from West German financial experts. It was the foundation of West Germany's 'economic miracle.' The West German currency conversion is part of the founding myth of the Federal Republic of Germany. Yet Tenenbaum's pivotal role is largely unknown among the German public. Besides providing a full-blown biography of the true father of the currency reform, this book elevates Tenenbaum to his proper place in German history.1. Introduction; 2. Ludwig Erhard, who took credit for Edward A. Tenenbaum's success; 3. Edward A. Tenenbaum's family roots, adolescence, and military experience until 1946; 4. In action for OMGUS and currency refol£w