This pointed, hard-hitting and incisive analysis of Germany’s economic malaise is hardly calculated to win popular applause in Germany. Hans-Werner Sinn finds that Germany’s dearest child, the welfare state, is the cause of its economic problems. Many Germans rely on transfer payments, so it is politically unfeasible for politicians to reduce the scope of government spending and correct the distortions it causes. However, the author argues quite convincingly that the welfare state is simply unsustainable in its current form. getAbstract recommends this book to anyone interested in the future of Germany and, for that matter, in the future of the modern welfare state.
In this summary, you will learn
- Why Germany is in dreadful economic straits;
- How the welfare state has caused Germany’s woes; and
- What German politicians must do to regain the country’s dynamism and prosperity.
About the Author
Hans-Werner Sinn is professor of Economics and Public Finance at the University of Munich. He is the president of the Institute for Economic Research and director of the Center for Economic Studies at the University of Munich.