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.