Magazine content is available exclusively for TIME subscribers.West Germany: Denationalizing
Nationalization seems to be the fad from Italy to Indonesia, but not in Ludwig Erhard's free-enterprising West Germany. While it is still highly nationalized, West Germany is getting rid of state-owned industry as quickly as possible. Under Erhard's orders, the Ministry for Federal Property, which oversees nationalized companies, is getting ready to sell off the state-owned Vereinigte Elektrizitäts und Bergwerks (VEBA), a coal, chemicals and electric power giant with annual sales of $875 million.
German nationalization began with Bismarck, continued through the Weimar Republic and reached its climax in the Third Reich,...
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