The German Economy
eBook - ePub

The German Economy

Beyond the Social Market

  1. 416 pages
  2. English
  3. ePUB (mobile friendly)
  4. Available on iOS & Android
eBook - ePub

The German Economy

Beyond the Social Market

About this book

In this book, one of Germany's most influential economists describes his country's economy, the largest in the European Union and the third largest in the world, and analyzes its weaknesses: poor GDP growth performance, high unemployment due to a malfunctioning labor market, and an unsustainable social security system. Horst Siebert spells out the reforms necessary to overcome these shortcomings. Taking a broader view than other recent books on the German economy, he considers Germany's fiscal policy stance, product market regulation, capital market, environmental policy, aging and immigration policies, and its system for human capital formation as well as Germany's role in the European Union, including the euro zone.


Germany's system of economic governance emerges as a common theme as Siebert examines why this onetime economic powerhouse is today a faltering giant. He argues that what Germany needs, above all, is a market renaissance; that it must throw off the shackles of its social welfare economy and of its hallmark consensus approach, whereby group-based cooperative decision-making has undermined competition and markets. In doing so he examines both the country's social security system and its labor market, including trade unions. His focus throughout is on Germany's present concerns, foreseeable future problems, and long-term policy issues.


The definitive word on the postwar German economy to the present day, The German Economy is essential reading for economists and finance professionals as well as students, researchers, and others interested in modern-day Germany and its place and prospects at the heart of Europe.

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Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright Page
  4. Contents
  5. Preface
  6. Chapter One: Basic Features of the German Economy
  7. Chapter Two: The Social Market Economy
  8. Chapter Three: The Weak Growth Performance
  9. Chapter Four: The Labor Market: High and Sticky Unemployment
  10. Chapter Five: The Social Security System under Strain
  11. Chapter Six: Ageing as a Challenge over the Next Forty Years
  12. Chapter Seven: Germany: an Immigration Country
  13. Chapter Eight: Regulation of Product Markets
  14. Chapter Nine: Environmental Protection: a German Topic
  15. Chapter Ten: The Capital Market and Corporate Governance
  16. Chapter Eleven: Human Capital and Technology Policy
  17. Chapter Twelve: The Fiscal Policy Stance
  18. Chapter Thirteen: Germany in the European Union: Economic Policy under Ceded Sovereignty
  19. Chapter Fourteen: The System of Governance in Germany’s Social Market Economy
  20. Chapter Fifteen: The Need for a Renaissance of the Market Economy
  21. References
  22. Index