Word: marktwirtschaft
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Dates: during 1950-1959
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Cheers for a nation which, ruined in 1945, can now double our annual gross national product increase rate. Erhard and Adenauer certainly should be applauded for making West Germany's Marktwirtschaft stand today as the strongest European bulwark against socialist pressures...
...economics adviser to the conquerors,'' recalls one caller, "almost like a dog on a chain.'' The professor was a torrential talker. To all comers he talked and talked, in the midst of Frankfurt's flattened wreckage, of free private enterprise and the mechanism of Marktwirtschaft, the free-market economy...
Since the decisive breakaway of 1948, Erhard has proclaimed his Soziale Marktwirtschaft with all the incantatory efficacy of a prophet proved in 53 million pocketbooks. Strange as it may seem to Americans, the fact that he is a professor further enhances his great prestige, for in the elaborately graded system by which Teutons rate their proliferating official titles, the title of professor ranks highest of all. (West German President Theodor Heuss−another economist−is customarily introduced at banquets as "Professor Heuss, the President...
...Boss Wilhelm Vocke. keeping alert hands on the nation's interest rates, have helped immensely in preserving the federal republic against inflationary dangers. But Erhard created the proper climate, bulled away the obstacles. Keeping clear of technical intricacies, he preaches the wider doctrine of expanding productivity, the Soziale Marktwirtschaft that might be translated loosely as "free enterprise alive to social responsibilities." It means, he once remarked only half jokingly, "The state can interfere if it is absolutely necessary...
Christmas Chatter. Erhard lives, breathes and talks Marktwirtschaft. He is forever evangelizing−at banquets, cocktail parties or even family gatherings. He has made 81 trips abroad, including five to the U.S. ("Free enterprise has given the American citizen," says Erhard, "a living standard and a chance for self-expression unparalleled in the rest of the world.") His energy is prodigious, his persistence monumental. On one four-week swing through Latin America ("the continent of the future"), Erhard outlasted two aides, who split the 18-hour daily duty of keeping up with him, outate, outdrank and outtalked his hosts...