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Monday, January 12, 2009

Origins of the German 'Economic Miracle' by Robert A. Peterson FROM The Freeman

"Enter Ludwig Erhard. Born in 1897 in Furth, and educated at the University of Frankfurt, Erhard had been a disciple of the great free market economist, Wilhelm Roepke. After serving as an economist in Nuremberg, Erhard was appointed head of the post-war Bizonal Economic Council. Looking over the wreckage from six years of total war, Erhard knew that only free market policies could get Germany back on its feet. To that end, he made two proposals: introduce a new currency, then insure its success by lifting wage and price controls."

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