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The German economy [electronic resource] : beyond the social market /
Horst Siebert.
imprint
Princeton, N.J. : Princeton University Press, c2005.
description
ix, 403 p. : ill. ; 24 cm.
ISBN
0691096643
format(s)
Book
More Details
imprint
Princeton, N.J. : Princeton University Press, c2005.
isbn
0691096643
restrictions
Licensed for access by U. of T. users.
catalogue key
9871644
 
Includes bibliographical references and index.
A Look Inside
About the Author
Author Affiliation
Horst Siebert is President Emeritus of the Kiel Institute for World Economics, Steven Muller Professor of Economics at Johns Hopkins University, and Jelle Zijlstra Professorial Fellow at the Netherlands Institute for Advanced Studies
Excerpts
Flap Copy
"This book will become the source that economists and other scholars will turn to for understanding one of the most influential and important economies in the world. Not only does it describe the German economy and its institutional features, but it also offers analysis and linkages between the institutional framework, policy, and economic performance."--David Audretsch, Director of the Institute for Development Strategies, Indiana University, author ofInnovation and Industry Evolution "This book's case that resumption of significant growth in Germany depends on removing rigidities in its labor market and social security system is convincingly argued and exceptionally well documented--and it is argued by a German, not by the IMF. Horst Siebert paints the German economy on a large canvas; his analysis stretches well beyond the labor market. Where appropriate, a great deal of detail is offered, in a digestible way."--Michael Artis, European University Institute, Florence, editor ofThe Economics of the European Union "This important book represents an ambitious and welcome attempt to analyse the past forty to fifty years of the German economy, which is vital not only for Europe but also for the world. Horst Siebert is certainly the perfect author for such a volume, and his argument is quite persuasive."--Andreacute; Sapir, Universiteacute; Libre de Bruxelles and Economic Advisor, Group of Policy Advisors to the President of the European Commission
Flap Copy
"This book will become the source that economists and other scholars will turn to for understanding one of the most influential and important economies in the world. Not only does it describe the German economy and its institutional features, but it also offers analysis and linkages between the institutional framework, policy, and economic performance."-- David Audretsch, Director of the Institute for Development Strategies, Indiana University, author of Innovation and Industry Evolution "This book's case that resumption of significant growth in Germany depends on removing rigidities in its labor market and social security system is convincingly argued and exceptionally well documented--and it is argued by a German, not by the IMF. Horst Siebert paints the German economy on a large canvas; his analysis stretches well beyond the labor market. Where appropriate, a great deal of detail is offered, in a digestible way."-- Michael Artis, European University Institute, Florence, editor of The Economics of the European Union "This important book represents an ambitious and welcome attempt to analyse the past forty to fifty years of the German economy, which is vital not only for Europe but also for the world. Horst Siebert is certainly the perfect author for such a volume, and his argument is quite persuasive."-- Andr Sapir, Universit Libre de Bruxelles and Economic Advisor, Group of Policy Advisors to the President of the European Commission
Flap Copy
"This book will become the source that economists and other scholars will turn to for understanding one of the most influential and important economies in the world. Not only does it describe the German economy and its institutional features, but it also offers analysis and linkages between the institutional framework, policy, and economic performance."--David Audretsch, Director of the Institute for Development Strategies, Indiana University, author of Innovation and Industry Evolution "This book's case that resumption of significant growth in Germany depends on removing rigidities in its labor market and social security system is convincingly argued and exceptionally well documented--and it is argued by a German, not by the IMF. Horst Siebert paints the German economy on a large canvas; his analysis stretches well beyond the labor market. Where appropriate, a great deal of detail is offered, in a digestible way."--Michael Artis, European University Institute, Florence, editor of The Economics of the European Union "This important book represents an ambitious and welcome attempt to analyse the past forty to fifty years of the German economy, which is vital not only for Europe but also for the world. Horst Siebert is certainly the perfect author for such a volume, and his argument is quite persuasive."--Andr Sapir, Universit Libre de Bruxelles and Economic Advisor, Group of Policy Advisors to the President of the European Commission
Flap Copy
"This book will become the source that economists and other scholars will turn to for understanding one of the most influential and important economies in the world. Not only does it describe the German economy and its institutional features, but it also offers analysis and linkages between the institutional framework, policy, and economic performance."--David Audretsch, Director of the Institute for Development Strategies, Indiana University, author of Innovation and Industry Evolution "This book's case that resumption of significant growth in Germany depends on removing rigidities in its labor market and social security system is convincingly argued and exceptionally well documented--and it is argued by a German, not by the IMF. Horst Siebert paints the German economy on a large canvas; his analysis stretches well beyond the labor market. Where appropriate, a great deal of detail is offered, in a digestible way."--Michael Artis, European University Institute, Florence, editor of The Economics of the European Union "This important book represents an ambitious and welcome attempt to analyse the past forty to fifty years of the German economy, which is vital not only for Europe but also for the world. Horst Siebert is certainly the perfect author for such a volume, and his argument is quite persuasive."--André Sapir, Université Libre de Bruxelles and Economic Advisor, Group of Policy Advisors to the President of the European Commission
Full Text Reviews
Appeared in Choice on 2005-07-01:
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. In 15 fact-filled, insightful chapters, Siebert (currently at Johns Hopkins, formerly a 12-year member of Germany's Council of Economic Advisers and a president of the Kiel Institute for World Economics) covers Germany's economic institutions and policies, emphasizing the past ten years and relating them to the country's failures to maintain dynamic, positive change in a changing global environment. The aftereffects of Germany's reunification receive special attention, as does Germany's place within the European Union (chapter 13 is a neat thumbnail sketch of EU governance and policy making). Siebert recommends major system reforms to decisively shift the balance from the "social" to the "market" aspects of the "social market economy." The book includes tables and figures. A series of editing lapses are distracting; e.g., persistent use of "statuary" instead of "statutory," missing words, omission of several footnotes. ^BSumming Up: Highly recommended. European and international economics collections, upper-division undergraduate through professional. H. D. Renning emeritus, California State University, Stanislaus
Reviews
Review Quotes
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.
"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
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
This book's case that resumption of significant growth in Germany depends on removing rigidities in its labor market and social security system is convincingly argued and exceptionally well documented--and it is argued by a German, not by the IMF. Horst Siebert paints the German economy on a large canvas; his analysis stretches well beyond the labor market. Where appropriate, a great deal of detail is offered, in a digestible way.
This book will become the source that economists and other scholars will turn to for understanding one of the most influential and important economies in the world. Not only does it describe the German economy and its institutional features, but it also offers analysis and linkages between the institutional framework, policy, and economic performance.
This important book represents an ambitious and welcome attempt to analyse the past forty to fifty years of the German economy, which is vital not only for Europe but also for the world. Horst Siebert is certainly the perfect author for such a volume, and his argument is quite persuasive.
This item was reviewed in:
Choice, July 2005
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Main Description
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 Economyis 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.
Main Description
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.
Table of Contents
Preface vii
Basic Features of the German Economyp. 1
The Social Market Economyp. 24
The Weak Growth Performancep. 38
The Labor Market: High and Sticky Unemploymentp. 69
The Social Security System under Strainp. 114
Ageing as a Challenge over the Next Forty Yearsp. 154
Germany: an Immigration Countryp. 166
Regulation of Product Marketsp. 181
Environmental Protection: a German Topicp. 203
The Capital Market and Corporate Governancep. 213
Human Capital and Technology Policyp. 244
The Fiscal Policy Stancep. 261
Germany in the European Union: Economic Policy under Ceded Sovereigntyp. 292
The System of Governance in Germany's Social Market Economyp. 325
The Need for a Renaissance of the Market Economyp. 365
Referencesp. 378
Indexp. 393
Table of Contents provided by Publisher. All Rights Reserved.

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