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Contents Prologue Whither Germany? 1. The first shall be last From the land of the economic miracle to the sick man of Europe The Rise, Decline, and Resurrection of Britain: Lessons for Germany France, Austria, the Netherlands and others also overtake Germany Intellectual and Scientific Decline in the Land of Goethe The Japanese crisis sweeping in The Maastricht Treaty: He that hurts another hurts himself The Guinea pig of history 2. How German workers lost their competitive edge The globalization shock: China, India, the United States, and many others The flight of the SMEs to Eastern Europe Germany, a bazaar economy Why the bazaar effect is too strong The export puzzle But the export surplus Three coinciding shocks: Euro, internal market, and EU enlargement International division of labor: How to profit from globalization Excessive labor costs Why unit labor costs are irrelevant Better or cheaper? Why a currency appreciation is not the same as a wage increase Does Germany need higher wages to boost aggregate demand? What can be learnt from the Americans and the Dutch regarding labor costs 3. Trade-union Capitalism Unions then and now Mocca in the ocean Why unions are cartels More autonomy for firms Working longer Investment wages: a possible way Less dismissal protection, more job security. The welfare state as secret accomplice Sweden¿s ultimate solution 4. Reinventing the German welfare state The case for the welfare state Wage replacement income as job killer Low-skilled workers are priced out of the market: The accordion effect The German disease: Why the Germans are really running out of work Claim and reality: Inequality in the labour market The slippery slope Mini-jobs with mini-impact: The crowding-out effect Preparing the welfare state for globalization Activating Social Assistance: A sharp weapon against unemployment Early retirement: A vicious circle Early retirement with unlimited additional earnings: The better way 5. The withering east The German Mezzogiorno Money, money, and still more money Why the currency conversion was not the problem Same wages for the same work only in the same location ¿No Japanese, please!¿: The dubious role of the west German bargaining parties The Dutch disease An attempt at escape 6. Taxes and transfers: The endless loop The state: Leviathan or gold carrier Among sinners The road to debt is paved with good intentions Where is all the money going? Voting for transfers Wasted energy: taxpayers versus beneficiaries Chasing subsidies Germany may win the world cup for the marginal tax burden Are wealth taxes just? Why capital cannot really be taxed Tax reform 2000: A step in the right direction The dual income tax for Germany 7. The birth dearth Why are the Germans getting ever older? Country without children The road to gerontocracy Pension insurance about to collapse Pseudo-solutions Human capital or real capital, but there is no such a thing as a free lunch A false argument for the funded system Why immigration really won¿t help solve the problem Voluntary or mandatory? Adenauer¿s error or why Germany needs an active population policy The French example Child funded pensions for parents and wealth-funded pension for the childless Ready for the future: The four pension pillars 8. EU enlargement, migration and the new EU constitution What distinguishes European unification from German Unification? The problem of extreme low-wage competition How many will be coming? Why migration is essentially good Migration into unemployment The welfare state as immigration magnet The new EU constitution: The road into EU social union How one may immigrate into the welfare state without working The erosion of the European welfare states Selectively delayed integration and the home country principle Rethinking the welfare state: The reform program Options for Europe and Germany alike Germany in the focus Item 1: A U-turn in collective bargaining Item 2: Less power to the unions! Item 3: Less money for staying out of the game, more money for participating Item 4: Turning off the immigration magnet Item 5: A leaner tax system Item 6: More children, more retirement income, more progress Item 6+1:New dynamism in east Germany Epilogue Reason or experience Acknowledgements Index
Library of Congress Subject Headings for this publication:
Germany -- Economic conditions -- 1990-.
Labor laws and legislation -- Germany.
Labor market -- Germany.
Foreign trade and employment -- Germany.
Competition, Unfair -- Germany.