The German Economy

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.

ISBN 0691096643   Pages 416 ISBN13 9780691096643 (What's this?)   Volumes 1 Publisher The University Press Group Ltd   Weight (grammes) 714 Imprint Princeton University Press   Published in New Jersey Format Hardback   Height (mm) 229 Publication date 03 Jan 2005   Width (mm) 152 Library of Congress 2004112206   Spine width (mm) 30 DEWEY 330.943087   Academic level Professional / Scholarly, Tertiary education DEWEY edition DC22

Ch. 1		Basic features of the German economy		1
Ch. 2		The social market economy		24
Ch. 3		The weak growth performance		38
Ch. 4		The labor market : high and sticky unemployment		69
Ch. 5		The social security system under strain		114
Ch. 6		Ageing as a challenge over the next forty years		154
Ch. 7		Germany : an immigration country		166
Ch. 8		Regulation of product markets		181
Ch. 9		Environmental protection : a German topic		203
Ch. 10		The capital market and corporate governance		213
Ch. 11		Human capital and technology policy		244
Ch. 12		The fiscal policy stance		261
Ch. 13		Germany in the European Union : economic policy under ceded sovereignty		292
Ch. 14		The system of governance in Germany's social market economy		325
Ch. 15		The need for a renaissance of the market economy		365

Anyone looking for a thorough description of Germany's economic system and a detailed analysis of its current and foreseeable economic problems--low growth and high unemployment rates top the list--will find it here. -- Choice

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