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TLDR: economists are imbeciles. Never mentions hidden champions[1], never mentions the high level of training and morale and hence productivity for the German
by scottlocklin 7y ago
TLDR: economists are imbeciles.
Never mentions hidden champions[1], never mentions the high level of training and morale and hence productivity for the German worker, never mentions German dedication to quality, never mentions the social capital of corporations which are hundreds of years old, never mentions the fact that MBA quarterly profit maximization uber alles bullshit never caught on in Germany, never mentions the Landesbanks.... I submit this article as evidence that economists don't understand any economy.
[1]https://en.wikipedia.org/wiki/Hidden_champions https://en.wikipedia.org/wiki/Hidden_champions
- tompccs 7y agoIf you'd bothered to read you'd realise that the author isn't an economist, and that he does talk about Germany's manufacturing excellence. That doesn't explain why in 1992 Germany had a massive trade deficit and UK had an equally large trade surplus, or how they've been able to avoid the fate of Japan.
- scottlocklin 7y agoGee, what was different about 1992 in Germany? Could it be ... absorbing East Germany? He may not be an economist, but he excels at economic imbecility.