Ludwig Wilhelm Erhard was born on 4 February 1897 in Fürth, in the Kingdom of Bavaria. His father, Wilhelm Erhard, owned a clothing store, while his mother, Augusta, was a Protestant. Ludwig had a challenging childhood, suffering from polio at the age of three, which resulted in a deformed right foot. He attended primary school and later the Royal Bavarian Vocational High School, where he graduated in 1913. After working as a commercial apprentice, he volunteered for military service in 1916 during World War I, serving in the 22nd Royal Bavarian Artillery Regiment. He was wounded in 1918 and spent time in a military hospital, undergoing multiple surgeries.After the war, Erhard pursued studies in economics, first at a business college in Nuremberg and later at Goethe University Frankfurt, where he earned his PhD in 1925. He married Luise Schuster, a fellow economist, in 1923. Following his graduation, he worked in his father's company and later became a research assistant at a marketing research institute. During World War II, he developed concepts for postwar economic recovery, despite the restrictions imposed by the Nazi regime.After the war, Erhard became an economic consultant and played a significant role in the currency reform in Germany's western zones of occupation. He was appointed director of economics by the Bizonal Economic Council in 1948, and on 20 June 1948, the Deutsche Mark was introduced. Erhard's policies aimed to stimulate the economy and abolish price controls, which contributed to the economic recovery known as the Wirtschaftswunder.In the first federal elections in September 1949, Erhard was elected as a member of the Bundestag representing the Christian Democratic Union (CDU) and became Federal Minister for Economic Affairs. He held this position for 14 years, during which he promoted the social market economy, leading to rapid economic growth and prosperity in West Germany during the 1950s. Erhard was a member of the Mont Pelerin Society, where he engaged with liberal economic thinkers to shape his policies.Erhard became Chancellor of West Germany on 16 October 1963, succeeding Konrad Adenauer. His tenure saw the introduction of progressive reforms, including housing benefits. However, he faced challenges in foreign policy, particularly regarding German reunification and relations with the United States. His support for the Vietnam War and a growing budget deficit led to a decline in his popularity.On 30 November 1966, Erhard resigned as Chancellor following the collapse of his coalition government. He continued to serve as a member of the Bundestag until his death on 5 May 1977 in Bonn. Erhard was buried in Gmund at the Tegernsee in Upper Bavaria. Several institutions, including the Ludwig Erhard-Berufsschule, are named in his honor.