Article: Freedom and Responsibility: The Social Market Economy in Germany, 1918-1963.

By A. J. Nicholls (New York: Oxford University Press, 1994. xiii plus 422pp.).

A. J. Nicholls offers here a collective intellectual biography of several key figures (especially Ludwig Erhard and Karl Schiller) in West Germany's adoption of the social market economy, along with an account of certain political developments that help explain that adoption. Like some of his subjects, he has relatively little to say about the social in social market economy. He is most interested in how West Germans came to have a market economy at all, given both the disrepute into which laissez-faire had fallen in interwar Germany and the collectivist bent of postwar public discourse.

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