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Essay / Research Paper Abstract
This paper focuses on Germany's economy and business culture, including the impact of the euro on the current financial system, the country's general management culture, and attitude toward women in the workforce. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: D0_MTgerbus.rtf
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robust economy and fair trade practices. On the other hand, this has been a country that, according to critics, has had little innovation in business or government. What Germany is,
overall, in the business area, is a patriarchal system with emphasis on loyalty and quality rather than innovation. In terms of the
countrys dollar system, like other European countries, Germany switched to the standardized euro at the beginning of 2002 (Kurlantzick, 2002). The change has, for the most part, been seamless but
many experts believe that the German economy could slow, partly because of the move from Deutschmarks to the euro (Kurlantzick, 2002). Once upon a time, Germany was considered the "locomotive"
for the rest of Western Europe, particularly with its generous social security schemes, meaning that workers would not want when it came to retirement (Fairlamb and Mandel, 2002). These days,
however, the country could become one that is reliant on others for growth (Fairlamb and Mandel, 2002). Germany, in short, hasnt been really able to boost its economy, partly because
of excessive regulations, a slowly growing venture capital market and fixed labor costs (Kurlantzick, 2002). These factors tend to scare off investors, particularly foreign investors (Kurlantzick, 2002).
This has not been helped with a switch to the euro, as the "euro-zone" nations have caps imposed on their budget deficits in order to
prevent inflation (Kurlantzick, 2002). This has meant that Germany cant use fiscal stimulus (such as cutting interest rates) to jump-start its economy (Kurlantzick, 2002). In addition, greater price transparency means
that Germanys manufacturing sector - much of which is concentrated in low-margin, price-dependent industries like automobiles - could also hurt the country (Kurlantzick, 2002).
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