The German Economic “Miracle”: Ludwig Erhard

Following World War II, Germany's economy was in ruins and was made even worse by ongoing price controls implemented by the state. Ludwig Erhard, an economist from a humble background, immediately abolished all price controls when elected director of economics in occupied Germany. The result is what economists and historians call an economic miracle, but what Erhard himself believed was the natural result of an economy freed from bureaucracy and state intervention. Hosted on Acast. See acast.com/privacy for more information.