To the sociologist, the process of German unification holds some of the most fascinating phenomena of recent history. (Ash, 1993) At the same time, German unification focusses attention upon some of the most fundamental problems of modern social theory and praxis...(The) main portion of my paper will be devoted to the attempt of conveying an impression of the complexities of 'real life' unification. This account will center around the 'Treuhandanstalt', the trust organization set up by the prevailing powers to lead East Germany into the folds of Western style capitalism. And within this 'phenomenology' one will find the most vexing 'global problem' of the political sociology of development: how to rethink the relationship between the public and private sectors of socio-economic life.