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Ludwig Erhard
(born Feb. 4, 1897, Fürth, Ger. — died May 5, 1977, Bonn, W.Ger.) German economist and politician. As economics minister (1949 – 63), he was the chief architect of West Germany's postwar economic recovery. He achieved what has been called an economic miracle through his "social market system," which was based on free-market capitalism but included special provisions for housing, farming, and social programs. In 1957 he was appointed federal vice-chancellor, and in 1963 he succeeded Konrad Adenauer as chancellor. His government was troubled by an economic downturn and a budget deficit, as well as Erhard's relative weakness as a leader, and he was forced to resign in 1966.

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