The term "Wirtschaftswunder," or "economic miracle," refers to the rapid economic recovery and growth experienced by West Germany after World War II, particularly during the 1950s and 1960s. This period was characterized by significant industrial expansion, low unemployment, and rising living standards, largely due to the implementation of the social market economy and support from the Marshall Plan. Key factors contributing to the Wirtschaftswunder included the introduction of the Deutsche Mark, which stabilized the currency, and the efforts of Ludwig Erhard, the Minister of Economics, who promoted free-market policies. The combination of these elements transformed West Germany into one of the world's leading economies.