German Economics Tradition?

[fluffernutjob]

I'm curious about the dominant train(s) of economic thought in Germany. Merkel and her advisors wield tremendous influence in Europe and, by extension, thr world these days. I feel I ought to be considerably better informed.

 

[onecut39]

I'm curious about the dominant train(s) of economic thought in Germany. Merkel and her advisors wield tremendous influence in Europe and, by extension, thr world these days. I feel I ought to be considerably better informed.

Google "Germam economic model"

 

[EdwardBaiamonte]

I'm curious about the dominant train(s) of economic thought in Germany. Merkel and her advisors wield tremendous influence in Europe and, by extension, thr world these days. I feel I ought to be considerably better informed.

Google "Germam economic model"

Germany favors austerity or fiscal common sense and responsibility. They live within their means and don't want to make loans to the rest of Europe which is broke from not living within their means.

 

[Wiseacre]

They made structural changes about 10 years back, including to their labor model, which helped them stay competitive in the world economy. And they reined in spending, I believe in the next year or two they'll begin the requirement to balance their budget. Novel concept.

 

[EdwardBaiamonte]

They made structural changes about 10 years back, including to their labor model, which helped them stay competitive in the world economy. And they reined in spending, I believe in the next year or two they'll begin the requirement to balance their budget. Novel concept.

and they have no minimum wage so people can actually get jobs!!! Another novel concept!!

 

[onecut39]

Apparently no one googled "German economic model".

 

[Rshermr]

They made structural changes about 10 years back, including to their labor model, which helped them stay competitive in the world economy. And they reined in spending, I believe in the next year or two they'll begin the requirement to balance their budget. Novel concept.

and they have no minimum wage so people can actually get jobs!!! Another novel concept!!

Ed, you have proved that you are a really good deciever. You state something that is almost true - that germany has no minimum wage (though construction workers do) and then indicate that this lack of minimum wage is a reason for their success. But then there is the rest of the story, which ed does not want anyone to know.
First, nearly all wages are set by collective bargaining in Germany. and those wage rates are enforsed by federal law.
And second, that it now looks as if Germany will very shortly have a minimum wage.
Here is the link to the information (if your a con, you probably do not want to read this info)
Wages in Germany: Merkel and the minimum | The Economist

 

[Wiseacre]

They made structural changes about 10 years back, including to their labor model, which helped them stay competitive in the world economy. And they reined in spending, I believe in the next year or two they'll begin the requirement to balance their budget. Novel concept.

and they have no minimum wage so people can actually get jobs!!! Another novel concept!!

Ed, you have proved that you are a really good deciever. You state something that is almost true - that germany has no minimum wage (though construction workers do) and then indicate that this lack of minimum wage is a reason for their success. But then there is the rest of the story, which ed does not want anyone to know.
First, nearly all wages are set by collective bargaining in Germany. and those wage rates are enforsed by federal law.
And second, that it now looks as if Germany will very shortly have a minimum wage.
Here is the link to the information (if your a con, you probably do not want to read this info)
Wages in Germany: Merkel and the minimum | The Economist

They're talking about a minimum wage for political reasons, not economic ones. Looks like that's way they're going to go, and I'd be willing to wager their UE numbers will worsen as a result. And so will the economic growth numbers too.

 

[onecut39]

and they have no minimum wage so people can actually get jobs!!! Another novel concept!!

Ed, you have proved that you are a really good deciever. You state something that is almost true - that germany has no minimum wage (though construction workers do) and then indicate that this lack of minimum wage is a reason for their success. But then there is the rest of the story, which ed does not want anyone to know.
First, nearly all wages are set by collective bargaining in Germany. and those wage rates are enforsed by federal law.
And second, that it now looks as if Germany will very shortly have a minimum wage.
Here is the link to the information (if your a con, you probably do not want to read this info)
Wages in Germany: Merkel and the minimum | The Economist

They're talking about a minimum wage for political reasons, not economic ones. Looks like that's way they're going to go, and I'd be willing to wager their UE numbers will worsen as a result. And so will the economic growth numbers too.

Germany is an economic powerhouse. Their main problem is the rest of the EU.
That may be their downfall.

 

[Wiseacre]

Ed, you have proved that you are a really good deciever. You state something that is almost true - that germany has no minimum wage (though construction workers do) and then indicate that this lack of minimum wage is a reason for their success. But then there is the rest of the story, which ed does not want anyone to know.
First, nearly all wages are set by collective bargaining in Germany. and those wage rates are enforsed by federal law.
And second, that it now looks as if Germany will very shortly have a minimum wage.
Here is the link to the information (if your a con, you probably do not want to read this info)
Wages in Germany: Merkel and the minimum | The Economist

They're talking about a minimum wage for political reasons, not economic ones. Looks like that's way they're going to go, and I'd be willing to wager their UE numbers will worsen as a result. And so will the economic growth numbers too.

Germany is an economic powerhouse. Their main problem is the rest of the EU.
That may be their downfall.

Lately they haven't been that powerful. They're pretty close to a recession, cuz they're an export driven economy and there's not a lot of buyers out there. If I'm not mistaken their economic forecast got downgraded recently from neutral to negative.

 

[EdwardBaiamonte]

They're talking about a minimum wage for political reasons, not economic ones. Looks like that's way they're going to go, and I'd be willing to wager their UE numbers will worsen as a result. And so will the economic growth numbers too.

Germany is an economic powerhouse. Their main problem is the rest of the EU.
That may be their downfall.

Lately they haven't been that powerful. They're pretty close to a recession, cuz they're an export driven economy and there's not a lot of buyers out there. If I'm not mistaken their economic forecast got downgraded recently from neutral to negative.

they have no minuimum wage which points to how much they understand the value of freedom. THey are urging austerity on Europe because they don't want to bailout Europe for not employing austerity measures.

THe liberals are like Nazis. They use propaganda to make fools think in is not necessary to live within their means, because they can always rip-off those who did live within their means.


"German economists have always seen minimum wages as job killers. A 2010 study said that a €7.50 minimum could eliminate 840,000 jobs at a cost of €4 billion a year."-Economist

 

[EdwardBaiamonte]

They're talking about a minimum wage for political reasons, not economic ones. Looks like that's way they're going to go, and I'd be willing to wager their UE numbers will worsen as a result. And so will the economic growth numbers too.

Germany is an economic powerhouse. Their main problem is the rest of the EU.
That may be their downfall.

Lately they haven't been that powerful. They're pretty close to a recession, cuz they're an export driven economy and there's not a lot of buyers out there. If I'm not mistaken their economic forecast got downgraded recently from neutral to negative.

so what??? they are still the most responsible and conservative economy in Europe that the rest of Europe needs to rip-off to survive.