The future of the German economy: an end to the miracle?

Book abstract:

This is an edited collection of essays analysing the future of the German economy. Contributions come from established as well as younger commentators and the result is a dynamic and novel interpretation of Germany's economic performance. It covers economic policy and macroeconomic performance since the election of the Schröder government, the 'Alliance of Jobs' employment policy, German corporatism, including finance and industrial relations, the future of the model in a global era and German innovation.

It argues that while there are worrying aspects in macroeconomic performance, in particular high unemployment and net capital outflows, there are real reasons to be optimistic about Germany's future. The innovation system is dynamic, industrial policy is strong and the 'corporate' model has intrinsic adaptability which has made it both durable and competitive through the centuries of industrialisation. Indeed, it is argued that there are powerful lessons to be learned from Germany for the UK economy in particular, as this large economy adapts successfully to change.

The chapters are: Germany in a global era; Economic reform of Modell Deutschland; Alliance for jobs: labour market policy and industrial relations after the 1998 elections; The tale of the hare and the tortoise: globalisation and the restructuring of the German model; A pattern of light and shade for the German economy; The end of the innovation economy?; German corporatism: dead or alive?; and An end to the miracle?

This book, part of the 'Issues in German Politics' series, will appeal to anyone with an interest in German politics or the German economy. It is lively and accessible to the non-specialist but insightful and original in its approach.