Prosperity through Competition

Germany’s postwar “economic miracle” was simple, really. It was the result of massive deregulation, directed by the author of this book.

As minister of economics after 1949, Ludwig Erhard inherited a disaster made by Hitler, wartime controls, and allied bombings.

Erhard smashed monopolies, repealed price controls, and dismantled statist controls of all sorts. Thus did he make a singular contribution to world history, one directly influenced by both the Austrian and libertarian traditions.

In 1957, he wrote a fantastic book that explains his rationale, and this ebook now allows us to look at his thinking and methods. What stands out most compellingly here is the group to whom he pitched his work. It is written not for politicians, consumers, bureaucrats, or intellectuals. The group he knew that he had to pursued was the business class. It was business that had clung to the old controls and cartels, pushed inflation, and wanted mercantile policies.

Erhard makes a passionate plea to business to embrace free enterprise and competition, in its own long-term self-interest, as well as the general interest of the country he was trying to help rebuild.