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- Publisher
- de Gruyter
- Copyright
- Copyright © 1990 by the
- ISSN
- 2194-5799
- eISSN
- 2153-1552
- DOI
- 10.1515/jeeh-1990-0305
- Publisher site
- See Article on Publisher Site
Abstract
Peter Trapp * 1. Introduction In most of the 80s, the West-German economic performance has been disappointingly lackluster. Overall economic growth was relatively sluggish and unemployment remained at a very high level. This is the more disappointing for many observers since Germany was expected to contribute greatly to a sustained recovery of the world economy and to a reduction of other countries' external deficits. The purpose of this paper is not to discuss how a stronger expansion of the German economy could have helped to relieve unemployment and trade balance problems in other countries. Instead it will be asked why Germany failed to expand output at a higher rate and to reduce unemployment in the current upswing. What happened to the German economic miracle ? Do Germans loath economic growth, are they more concerned about the externalities of industrial production, i.e. pollution, noise, traffic congestion, etc., than about unemployment. To answer these questions a description of the German economic miracle will be given first. What was it and how was it achieved ? The answer will be that deregulation, tax reductions, and the opening up of profit opportunities provided the driving force for the revival. The second section,
Journal
Journal des Économistes et des Études Humaines – de Gruyter
Published: Oct 1, 1990