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He was the most important person in extraordinary economic recovery of West Germany. Eucken studied economy at the University of Bonn. Eventually, he moved to the University of Freiburg, where he gained international fame. There, at one of the few higher education institutions where Hitler's regime could be criticized, he acquired and developed his own economic theory of ordoliberalism and social market economy.
Eucken's ideas were strongly entrenched in the position of the capitalist free market, but they also allow the interference of the state in order to ensure that the system works to the largest possible number of people. For example, strong regulation could be introduced to prevent the creation of cartels and monopolies. Also, a social assistance system would be used to assist those who can not cope or currently have issues. Eucken also supported the existence of a strong central bank independent from the government, which would be focused on monetary policy aimed to maintain price stability, which in many ways was similar to the ideas of Milton Friedman. Basically, the system works completely normal today but at the time was seen as quite radical.