[Erhard said that] in the next four years he would fight unrelentingly against all forms of restrictive practices. The threat to the German economy came not so much from the Social Democrats as from opposition within the economy to free competition. "I will not retreat one step from my stand on the subject of cartels and professional rings. It will be a hard fight." He warned industrialists that they endangered the whole economic system by their predilection for cartels in the search for an illusory security. There was no security for the owner of a business.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "[Erhard said that] in the next four years he would fight unrelentingly against all forms of restrictive practices. The threat to the German economy came not so much from the Social Democrats as from opposition within the economy to free competition. "I will not retreat one step from my stand on the subject of cartels and professional rings. It will be a hard fight." He warned industrialists that they endangered the whole economic system by their predilection for cartels in the search for an illusory security. There was no security for the owner of a business." in the context of "Speech to United Action for a Social and Liberal Economy (Soziale Marktwirtschaft) (19 November 1953), quoted in The Times (20 November 1953), p. 6" to mean that wisdom is timeless.