Re: [Pen-l] Any Experts on the German Economy Out There?

[Jim Devine]

Germany's growing because of its relatively low wages?

On Fri, Aug 27, 2010 at 9:06 PM, michael perelman
<mich...@ecst.csuchico.edu> wrote:
> The Wall Street Journal has two articles about German.  One describes
> how German wages are stagnating, despite the expansion.
>
> Here is the first articles:
>
> Thomas, Andrea. 2010. "German Workers' Wages Belie Country's Rebound."
> Wall Street Journal (15
> August).http://online.wsj.com/article/SB10001424052748704296704575431240767523752.html?mod=WSJ_World_MIDDLENews
>
> "Germany has surprised the world with a sharp acceleration in its
> economic recovery, but perhaps the least impressed by this feat are
> Germans themselves.  The German economy expanded a sharp 2.2% in the
> second quarter from the first -- the fastest pace since reunification in
> 1990. But, despite the export-driven rebound, most German workers aren't
> getting any richer."
>
> "Chancellor Angela Merkel's government has hailed Germany's "job
> miracle" after whittling the jobless rate down to 7.6% of the work
> force, compared with unemployment levels of about 10% in the U.S. and
> France.  But the bulk of that reduction has come from the emergence of
> part-time jobs, often at low pay. That helps explain why German domestic
> demand has remained sluggish even as German exporters boast booming
> foreign orders. The disparity has drawn accusations from Germany's
> neighbors, notably France, that it is exploiting the world recovery
> without contributing to global demand."
> More at:
>
> http://michaelperelman.wordpress.com/2010/08/28/any-experts-on-the-german-economy-out-there/
> --
> Michael Perelman
> Economics Department
> California State University
> Chico, CA
> 95929
>
> 530 898 5321
> fax 530 898 5901
> http://michaelperelman.wordpress.com
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-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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