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The German economy compared very favourably with the situation in other countries: the average income of workers here had risen in the past two years… - Ludwig Erhard
" "The German economy compared very favourably with the situation in other countries: the average income of workers here had risen in the past two years by 16 per cent. while the cost of living had gone up by only four per cent. He was anxious to avoid making too little of the rise in prices, but pointed out that whereas the cost of living in the Federal Republic was now 13 per cent. above the 1950 figure, in Britain and France the rise over the same period was a third or more.
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About Ludwig Erhard
Ludwig Wilhelm Erhard (4 February 1897 – 5 May 1977) was a German politician affiliated with the CDU and the second Chancellor of the Federal Republic of Germany (West Germany) from 1963 until 1966. He is often famed for leading German postwar economic reforms and economic recovery ("Wirtschaftswunder," German for "economic miracle") in his role as Minister of Economic Affairs under Chancellor Konrad Adenauer from 1949 to 1963. During that period he promoted the concept of the social market economy (soziale Marktwirtschaft), on which Germany's economic policy in the 21st century continues to be based. In his tenure as chancellor, however, Erhard failed to win confidence in his handling of a budget deficit and his direction of foreign policy, and his popularity waned. He resigned his chancellorship on 1 December 1966.
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Ludwig Wilhelm Erhard
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Additional quotes by Ludwig Erhard
[Erhard said that] in the next four years he would fight unrelentingly against all forms of restrictive practices. The threat to the German economy came not so much from the Social Democrats as from opposition within the economy to free competition. "I will not retreat one step from my stand on the subject of cartels and professional rings. It will be a hard fight." He warned industrialists that they endangered the whole economic system by their predilection for cartels in the search for an illusory security. There was no security for the owner of a business.
A collectivist-totalitarian economic system, which in the final analysis serves only to glorify and increase the power of the state, can achieve great success in the easily controllable field of the basic industries but it will always remain incapable of serving man, in other words of providing the rich abundance of goods which gives the individual consumer a free choice and which enriches and beautifies his life.
National autonomy in economic matters should not be an obstacle to a free world economic system. But to achieve free convertibility within the European Payments Union only would lead to further upheavals. The dollar and the pound sterling should be included in any such step, if a new single world market was to be created. A free political order implied a free economic order; this would stand foremost amongst the preoccupations of the new Bundestag.
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