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Germany to join Race To The Bottom

bob perkins | 09.09.2001 11:27

Germany currently enjoys a milder and (relatively) fairer form of capitalism than the our neoliberal Thatcherism presided over by Gordon Brown. This could be set to change, as Germany finds it increasingly more difficult to attract and retain "investment". There's seems to be only one solution: Lower wages for the masses and a significantly downsized welfare state.

bob perkins

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Welfare state

11.09.2001 10:08

They certainly need a more generous welfare state in Germany - unemployment stood at 9.2% in August, or 3.859million people. In the old eastern Germany it stands at 17.1%! With growth just draging along at between 1 and 1.5%, they had better hope that they can still afford their generous welfare state for many years to come!
They could of course change their economic policies, but many people would rather consign those desperate for a job to years of social exclusion in the knowledge that they are well looked after by 'the state'...

Paul Edwards