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1953, March 4 |
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The combined steel group of the Allied High Commission lifted its controls from the Krupp industrial empire, in exchange for Alfred Krupp's pledge to liquidate his iron, steel, and coal holdings, and not to return to those industries. | 1 |
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Aug. 16 |
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The USSR proposed a Big Four conference within six months on a German peace treaty. Moscow suggested that East and West Germany meet first to set up a provisional all-German regime. | 2 |
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Sept. 6 |
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In general elections, Chancellor Adenauer's coalition won a sweeping victory. The extent of Adenauer's political support was in large part attributable to the success of his regime's economic policies. Under the direction of Ludwig Erhard, Adenauer's economics minister, the Christian Democrats turned away from demand-stimulus policies and implemented what was to a large extent a free market policy, albeit one with a social conscience. Specifically, the state provided insurance for all paid workers, who accepted lower wages in exchange for a sense of security and the benefits that accrued from the overall growth in the economy. | 3 |
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