Word: erhards
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Erupting Volcano. Last week Erhard was deep in his newest battle against rising prices, brought on when the big Ruhr coal operators announced a sudden $1.20-$1.50-a-ton price rise only four days after the elections. To the coal operators' pleas that their prices were still the lowest in Europe, Erhard roared: "You have made a volcano erupt. The administration is disturbed, the government is wounded." To unionists seeking concomitant wage rises and benefits, Erhard insisted he would succeed in keeping prices down: "If you look into it, you will find that your real income is now higher...
...dynamic process that Ludwig Erhard has set in train by liberating his country's economy is still forcing basic changes. Last week in Paris Erhard threw his powerful support behind the plan to set up a free-trade area comprising eleven European nations (notably Britain) besides the Common Market's six. Always, to Europe's Socialists and faint of heart, he preaches his doctrine: "The most successful means for the achievement and retention of prosperity is competition. Only by competition can an economy expand to serve all people, especially in their capacity as consumers, and dissolve...
...Erhard also succeeded in enshrining in the new treaty creating the six-nation Common European Market five stiff rules banning all agreements to prevent, restrict, or distort competition within the Common Market. Like Britain's Chancellor Harold Macmillan, he is a devoted believer in free trade among all nations. This does not make him an enthusiast for the Common Market. He fears it may become "an island of protectionism in Europe" because of pressure from the weaker economic members, especially France. "Why should I want to throw out controls and to abolish tariffs on a national level only...
...Change. After his personal success in the elections, Erhard is expected to stay on as Economics Minister. He would also like to take over Vice Chancellor Franz Blikher's chairmanship of the Cabinet's economic committee, which would enable him to gain overall direction of German economic policy. Up to now he has had to work in tandem with balky Finance Minister Schäffer, who has incurred Adenauer's displeasure by holding back rearmament funds and thus delaying Adenauer's plans for stepping up German participation in NATO. Inevitably there is talk that Erhard might...
HERMANN JOSEF ABS, director of the powerful Deutsche Bank of Frankfurt and a personal adviser to Germany's Economic Minister Ludwig Erhard (see cover), is generally recognized as one of the most influential spokesmen for the dynamic and prosperous German Federal Republic. In San Francisco, where he celebrated his 56th birthday last week during the I.I.D.C. conference, stocky Hermann Abs also emerged as an incisive spokesman for Western capitalism everywhere...