60 years of Germany goes hand-in-hand with 60 years of a 'social market economy'

Welcome back... The Federal Republic of Germany is celebrating its 60th anniversary this week. This goes hand-in-hand with 60 years of a "social market economy". This model rejects both pure socialism and laissez-faire capitalism and was the brain-child of Ludwig Erhard, first Minister of Economics and later Chancellor of West-Germany from 1963 to 1966. Thanks to the social market economy Germany did not only manage to get back on its feet after World War II - it also grew to become one of the world's most powerful economies. Here's a brief look at the success story: