Herbert B. Schmidt

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Herbert B. Schmidt (born April 23, 1931 in East Prussia) is a German economist and public policy advisor best known for his work in privatization in the former East Germany and Eastern Europe.[1]

Schmidt is considered the author of the "German Method" of privatization, in which shares of a state-owned company are tendered to the private sector buyer offering the best bid considering a number of factors including price, numbers of jobs guaranteed, environmental remediation, and other concerns.[2] Schmidt was the chief privatization advisor to Estonian Prime Minister Maart Laar,[3] and is a former economics minister of the German Lander of Saxony.[4] From 1998 to 2001, he was Commissioner of the Securities Commission of Bosnia and Herzegovina.[5]

In 1998, he was awarded the Order of the White Star of Estonia[6] for his work with the German Treuhandanstalt in Estonia.


  1. ^ Im Freien Estland, Hennig von Wistinghausen, Bohlau Verlag, 2004, p.323.
  2. ^ Privatization in Developing Countries, John Nellis, SAIS Review, Vol. 27, No. 2, 2007.
  3. ^ Privatization in Estonia, Erik Terk, Estonian Institute for Future Studies, 2000.
  4. ^ Die Bildung des Freistaates Sachsen, Michael Richter, Vandenhoech & Ruprecht, 2004.
  5. ^ IZVJEŠĆE O RADU, Komisije za Veijednosne Papire, Federation of Bosnia and Hercegovine, 2001.
  6. ^ http://vp1992-2001.vpk.ee/eng/ametitegevus/Valgetaht.asp

Further reading[edit]

  • Methods of Privatization, Andrew Berg and Elliot Berg, Journal of International Affairs, Vol. 50, 1997.
  • Soziale Marktwirtschaft als Historische Weichenstellung, "Methodenfragen der Privatisierung, dargestellt am Beispeil Estland", Herbert B. Schmidt. Ludwig-Erhard-Siftung, Bonn 1996.
  • Alfred Müller-Armack/Herbert B. Schmidt (Hg.): Wirtschafts- und Finanzpolitik im Zeichen der sozialen Marktwirtschaft. Festgabe für Franz Etzel, Stuttgart-Degerloch 1967