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Jumpstart : the economic unification of Germany /
Gerlinde Sinn, Hans-Werner Sinn ; translated by Juli Irving-Lessmann.
Cambridge, Mass. : MIT Press, c1992.
xviii, 243 p. : ill., map ; 24 cm.
0262193272 :
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Cambridge, Mass. : MIT Press, c1992.
0262193272 :
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Includes bibliographical references (p. [225]-238) and index.
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Full Text Reviews
Appeared in Library Journal on 1993-05-15:
The authors, noted German economists, outline the circumstances that brought about revolution and examine Germany's economic stance globally. They discuss currency conversion, privatization and its ensuing problems, and wage policies. They suggest that a participation model will speed economic recovery. Other strategies they propose include gradual change in the price structure and rapid increase in wage levels. These strategies are offered as an ``escape route'' from Germany's current economic path in the hope that present policy will be changed and the breakdown of the economy avoided. Appendixes offer statistical comparisons. This work, first published in Germany, is extremely well documented with an extensive bibliography. Recommended for all business collections.-- Lisa K. Miller, American Graduate Sch. of International Management Lib., Glendale, Ariz.
Appeared in Choice on 1993-09:
Whereas a recent collection of essays on the integration of the West and East German economies, Economic Aspects of German Unification, ed. by J.J. Welfens (1992), concentrated more on identifying the problems and policy tasks, this book, an excellent translation of its second German edition, is a persuasive indictment of the government's actual policies. However, the authors (economists, Univ. of Munich), subjecting the evidence to solid economic analysis which covers the full range of issues, from currency conversion to privatization to wage, employment, and investment policies in the eastern part of Germany, offer constructive criticism throughout. For example, they develop a challenging "participation model" for the privatization of state production property. Likewise, their analysis of the interrelationship between wage adjustments and investment in the East and worker migration to the West yields policy recommendations that deserve serious consideration. Overall, the authors' outlook is, for the near term, pessimistic. Tables and graphs; statistical and analytical appendixes; comprehensive bibliography. Highly recommended to specialists and graduate students concerned with the subject of German unification. H. D. Renning; California State University, Stanislaus
This item was reviewed in:
Library Journal, May 1993
Choice, September 1993
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Table of Contents
Revolution and Unificationp. 1
To Market with Marxp. 1
Submitting to the Iron Lawsp. 4
Voting with Their Feetp. 6
The Road to Unionp. 10
Germany and the Worldp. 19
Germany a Superpower?p. 19
The Race for Prosperityp. 23
The Collapsep. 29
Inherited Burdensp. 31
Fundamental Reasons for the Collapsep. 33
Aspects of Structural Changep. 36
Capital for Unityp. 43
New Moneyp. 51
Currency Conversionp. 51
Purchasing-Power Paritiesp. 53
The Purchasing-Power Paradoxp. 58
The Two Dimensions of Competitivenessp. 62
Money Overhang and Capital Overhangp. 66
The Planned and Actual Money Suppliesp. 67
Fast German Conversion Lossesp. 69
The Bundesbank's Gains from Unificationp. 73
Portfolio Reactionsp. 74
Demand Reactionsp. 76
Privatizationp. 81
Restitution and Salep. 81
Expropriation and Restitutionp. 87
Invisible Hand in Chainsp. 90
Compensation or Restitution?p. 93
Loosening the Chains: The Obstacle-Removal Lawp. 94
The Treuhand's Taskp. 96
Reorganization with Privatizationp. 98
The Junkyard Hypothesisp. 101
Six Reasons for the Endogenous Fall in Pricesp. 106
The Participation Modelp. 124
The Advantages of the Participation Modelp. 132
Strategies for the Upswingp. 141
A Long Haulp. 141
Organic System Transformationp. 145
The Maintenance Strategy: The Path of the Other Eastern Bloc Countriesp. 149
The High-Wage, High-Tech Strategyp. 152
Wage Subsidiesp. 168
Workshops for Robotsp. 174
Value-Added-Tax Preferences for East Germany?p. 179
The Role of the Governmentp. 180
A Social Compact for the Upswingp. 194
Epiloguep. 207
Appendix A: Comparison of East and West Germanyp. 209
Appendix B: Land Values in East and West Germanyp. 217
Appendix C: Profit Maximization and the Putty-Clay Hypothesisp. 221
Bibliographyp. 225
Indexp. 239
Table of Contents provided by Blackwell. All Rights Reserved.

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