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Freedom with ResponsibilityThe Social Market Economy in Germany 1918-1963$
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A. J. Nicholls

Print publication date: 2000

Print ISBN-13: 9780198208525

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198208525.001.0001

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Ludwig Erhard and the Origins of the Social Market Economy

Ludwig Erhard and the Origins of the Social Market Economy

(p.151) 7 Ludwig Erhard and the Origins of the Social Market Economy
Freedom with Responsibility

A. J. Nicholls

Oxford University Press

This chapter focuses on Ludwig Edward's contribution to the origin of the social market economy. Erhard was not in favour of the social aspects of the new economic liberalism, but liked the productive advantages of the market economy. The federal structure of Germany during the bizonal phase is highlighted here. Erhard's published a number of articles in the Neue Zeitung about his ideas. He blamed capitalism for betraying the basic principles of the market economy, ‘namely competition and price freedom’. As Economics Minister in Munich he faced many problems ranging from looting to demobilization, and also with developing Bavaria's export capacity. In the American zone, on the other hand, the Germans were able to exercise more self-government as the result of the creation of Land, or state, governments.

Keywords:   social market economy, Ludwig Erhard, neo-liberalism, social justice, free market

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