Friedrich Hayek on Ludwig Erhard

“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.””

“Ludwig Erhard...deserves far greater credit for the restoration of a free society in Germany than he is given for either inside or outside Germany... It must be admitted, however, that Erhard could never have accomplished what he did under bureaucratic or democratic constraints. It was a lucky moment when the right person in the right spot was free to do what he thought right, although he could never have convinced anybody else it was the right thing.”