Walter Eucken was a prominent German economist and a key figure in the development of the Ordoliberalism school of thought. Born in 1891, he played a significant role in shaping post-World War II economic policy in West Germany. Eucken emphasized the importance of a competitive market economy regulated by the state to ensure fairness and prevent monopolies. His ideas contributed to the establishment of the social market economy, which aimed to balance free-market principles with social welfare. Eucken's work laid the foundation for economic reforms that promoted stability and growth in Germany during the mid-20th century, influencing economic policies in other countries as well.