"In January 1947, the US and Britain established a common economic policy for their zones. France joined the following year, making it the ‘Trizone’. The economist Ludwig Erhard was appointed as director of the Economic Council and oversaw the smooth transition to the new currency, the Deutschmark. He coupled it with eliminating both price controls and rationing. Erhard’s bold economic policy inspired a recovery that eventually enabled political reconstruction based on a constitution approved by the Allied Powers."
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Economists from GermanyAnti-communistsNon-fiction authors from GermanyChancellors of GermanyChristian Democratic Union of Germany politicians
Original Language: English
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Sources
Henry Kissinger, Leadership: Six Studies in World Strategy (2021), p. 39
https://en.wikiquote.org/wiki/Ludwig_Erhard
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