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Editorial
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Posted by Mike Carlson - Jun 1, 2011 - 1:28 PM PDT
Reviewed by:
Mike Carlson (review), Bob Herrschaft (review)
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Mike Carlson - Jun 1, 2011 - 1:30 PM PDT
The author examines the two different approaches to the economic downturn taken by Denmark and Germany which have both effectively mitigated much of the trauma of unemployment that we find elsewhere, particularly in the U.S.. What they have in common is pro-active government legislation that has provided a safety net for the unemployed in Denmark and a system of "shared" employment in Germany.
Although the author seems to come down in favor of the German approach as a model for the U.S. to follow, I'm not sure it would be as effective here. First, Germany still has an economy with a large industrial base, albeit technologically advanced. Secondly, Germany hasn't let its infrastructure decay to anywhere near what it has in the U.S. .Job-sharing alone is not a solution to our current economic doldrums. Yes, we need a safety net more in line with Denmark's...but we also need ... More »
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When we stop assuming that its the workers' fault, then programs like Germany's lead to higher overall social return on equity. Adam Smith's sociobiological assumptions lead to a collaps of demand and the flight of capital and credit.
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