Erhard, Ludwig (1897–1977)
German economist and Christian Democrat politician, chancellor of the Federal Republic 1963–66. He became known as the ‘father of the German economic miracle’. As economics minister 1949–63 he instituted policies driven by his vision of a ‘social market economy’, in which a capitalist free market would be tempered by an active role for the state in providing a market-friendly social welfare system. His period as chancellor was less distinguished.
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