“A collectivist-totalitarian economic system, which in the final analysis serves only to glorify and increase the power of the state, can achieve great success in the easily controllable field of the basic industries but it will always remain incapable of serving man, in other words of providing the rich abundance of goods which gives the individual consumer a free choice and which enriches and beautifies his life.”

The Economics of Success (D. van Nostrand & Co., 1963), p. 281

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Ludwig Erhard 5
German politician 1897–1977

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