"In the 1960s and 1970s British folk-wisdom cherished (perhaps still cherishes) a comfortable explanation for Britain's relative economic decline since the Second World War, and especially her then all too evident industrial backwardness compared with West Germany. West Germany, so the story goes, had all her industries and transport system bombed flat during the war, and then, thanks to Marshall Aid, was able to completely rebuild them with the most up-to-date equipment. Meanwhile poor old Britain had to struggle on with worn-out or obsolete kit. This favourite British "wooden leg" excuse is pure myth. In the first place, West German industrial capacity in 1948 stood at 90 per cent of 1936 despite wartime bombing and postwar reparations. Secondly, Britain in fact received a third more Marshall Aid than West Germany – $2.7 billion net as against Germany's $1.7 billion. She indeed pocketed the largest share of any European nation."