"May I tell you the story of when I last spoke to Dr Ludwig Erhard? We were alone for a moment and he turned to me and said, “I hope you don't misunderstand me when I speak of a social market economy (sozialen Marktwirtschaft). I mean by that that the market economy as such is social, not that it needs to be made social.”"
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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
Friedrich Hayek, Encounter (May 1983), quoted in The Times (21 November 1983), p. 11
https://en.wikiquote.org/wiki/Ludwig_Erhard
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