Also known as the Miracle on the Rhine, Wirtschaftswunder refers to the rapid rise of Germany into one of the world’s leading economies after its devastation during the Second World War. Pro-market economic reforms under Ludwig Erhard, Germany’s Economics Minister, were the major cause behind the revival. Influenced by the ideas of economist Wilhelm Röpke, Erhard first tackled hyperinflation through radical currency reform that introduced the Deutschmark as the new German currency. He also tore down war time price-controls which had discouraged the production of several essential goods.