Ladies and gentlemen, I am very pleased to be with you in Berlin today and to give the Ludwig Erhard Lecture. I hope you all arrived safely. Maybe you were at home wondering whether it would rain today. Maybe you needed a ticket to get there. Maybe you came by bike or on foot and didn't know the way here. If so, I would be surprised if you didn't use your smartphone for this. When Ludwig Erhard presented his book “Prosperity for All,” it didn’t work so easily: back then, to get a ticket, you usually went to the train station and stood in line at the counter. To orientate yourself in the city, you needed a city map, ... (full story)