biography
pronunciation:
[shiler]
| sex:
| male
|
| lived:
| (1911–94)
|
| biography:
| German politician and political economist, born in Wrocław, SW Poland (formerly Breslau, Prussia). A member of the Sozialdemokratische Partei Deutschlands (SPD), as Bundesminister für Wirtschaft (1966–72) and Finanzen (1971–2) he characterized the economic policy of the Grand Coalition and of the early social-liberal coalition. The concerted action between employers and trade unions initiated by him, as well as his good financial planning, were major factors in overcoming the economic crisis of 1965. High inflation and criticism of his austere economic measures caused him to step down in 1972. He also left the SPD, but rejoined in 1980. |
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