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“German business climate deteoriates further. ... ”
“Germany’s economy is in such poor shape that it is threatening the credibility of the EU’s stability pact.”
“The German economy…has officially fallen into recession for the second time in two years.”
“German Economy shrinks.”
“Bundesbank sees no end to German economy’s stagnation.”
“The German economy with zero growth, anemic consumer demand and historically low business confidence…”
With more than sixty articles, magazines, and books read for this paper all were in agreement with the above quotations. Furthermore, every article was also consistent in their analysis as to the reasons for the fall of the German Economy. ... (4) The assimilation of East German into the West German Economy. ... What happened to the, “Miracle economy,” as it had been referred to for nearly fifty years, after the Second World War? ... Also, unlike in the United States where service-sector start –ups begin by paying low wages and hiring temporary or part time workers, German firms must pay the prevailing union wage in that sector even if the employee doesn’t belong to a union. ...
As George Washington is called the father of the US; Otto Von Bismarck, Germany’s first chancellor, is considered the founder of the German Empire. Washington led us toward small government, free markets and capitalism; Bismarck led Germany down the road toward big government, socialism and welfare where subsidies have historically played a very important policy role for the German government; so much so, that it has become ingrained in the German culture. This fact alone caused large sums in subsidies to be provided by the German government as investment incentives during the reunification of the East to the West because of the weakness of incentives in the private sector to invest in the East. ... High wages, short working hours and restrictive labor practices have driven German manufacturing to invest heavily in production overseas. Even in banking it is cheaper, complain officials, for a German Bank to post executives to London and fly them back twice a week for meetings than to keep them in their native Frankfort. ...
Also, since Bismarck, regulation has been such an integral part of German politics and policy that the word itself didn’t take on any significance until the 1970’s and even then “…regulation, one might say entered the vocabulary retrospectively, riding on the back of the concept and agenda of deregulation when the American deregulation movement reached the West European countries. ... (Internationally, the German holiday entitlements are the highest). ...
AN ONEROUS WELFARE SYSTEM
On one hand the German constitution is critically flawed where there is a constitutional guarantee to provide all inhabitants, including non-nationals, with a socially defined ‘dignified’ standard of living.
Approximate Word count = 2205
Approximate Pages = 8.8
(250 words per page double spaced)
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