This 1957 photograph shows Minister of Economics Ludwig Erhard flipping through the pages of his newly published book Prosperity for All, in which he explained his liberal economic policies to a broad audience. Erhard, who is seen here with his characteristic cigar, was one of the co-founders of West Germany’s social market economy and was considered the “father of the economic miracle.” As a result, he was one of the most popular politicians of the 1950s. He was extremely successful during his tenure as Minister of Economics (1949-63), but less so during his years as Federal Chancellor (1963-66).

Ludwig Erhard with his book Prosperity for All (January 28, 1957)


Source: Courtesy of the German Information Center