POWELL: Three men who resolved an economic crisis  Obama should
follow their example of success  President Obama seems
frustrated because he has “tried everything” to revive the
economy and still it’s in a slump. But as the following cases
suggest, he hasn’t tried the kind of policies that work.
Germany was a pile of rubble after World War II. Millions of
people were homeless, and there was massive unemployment.  A
German economist named Ludwig Erhard, who had worked in the
anti-Nazi underground, was increasingly critical of economic
controls that Hitler had originated and the Allies continued to
enforce. Erhard was named economics minister on the Allies'
Economic Council, a key policymaking position.  On Sunday, June
20, 1948, Erhard went on the radio and announced that there
would be a new currency and for every 10 depreciated Reichsmarks
that were handed in, people would receive one new Deutschmark.
Erhard recognized that people wouldn’t use the new currency
unless goods were available. He explained that