"Germany has also created a large low-wage labor market over the last 15 or so years - led by the Social Democrats. They've kept a lid on wages while productivity has risen sharply. They're looking to preserve that."
It should be noted that this isn't simply through restraining wages directly. it's also through restraining costs that would force up wages or negatively impact productivity. Basically garment industry run economic policy ala Tammany hall. Germany aggressively restrains rises of rents and property values for example. -- -Nathan Tankus -----------------------------------------------------------------------------------------------------------------------------------------------
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