Ludwig Erhard
Ludwig Erhard
Ludwig Wilhelm Erhardwas a German politician affiliated with the CDU and the 2nd Chancellor of the Federal Republic of Germanyfrom 1963 until 1966. He is often famed for leading German postwar economic reforms and economic recoveryin his role as Minister of Economics under Chancellor Konrad Adenauer from 1949 to 1963. During that period he promoted the concept of the social market economy, on which Germany's economic policy in the 21st century continues to be based. In his tenure as chancellor,...
NationalityGerman
ProfessionPolitician
Date of Birth4 February 1897
CountryGermany
Competition is the most promising means to achieve and secure prosperity. It alone enables people in their role of consumer to gain from economic progress. It ensures that all advantages which result from higher productivity may eventually be enjoyed.
A compromise is the art of dividing a cake in such a way that everyone believes he has the biggest piece.