The German statesman Ludwig Erhard (1897-1977) is credited with the decisions that resulted in West Germany's (now part of Germany) spectacular economic recovery following World War II. He served as chancellor of the Federal Republic of Germany from 1963 to 1966.

Ludwig Erhard was born in the northern Bavarian city of Fürth on Feb. 4, 1897. After serving in World War I, during which he advanced to the rank of sergeant and was badly wounded, Erhard resumed his business training. He continued his studies in economics and sociology at the progressive University of Frankfurt. After he received a doctorate, Erhard decided to devote his career to research rather than to business. He joined the staff of the Nürnberg Business School. From 1928 to 1942 he advanced from research assistant to director of the institution. The Nazis removed him from this position, however, after he refused to join the party. Erhard...