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German Capitalism: Does It Exist? Can It Survive?

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posted on 2024-06-28, 16:02 authored by Wolfgang Streeck
Abstract In the roughly four decades between the end of the Second World War and German unification, West German society gave rise to a distinctive kind of capitalist economy, governed by nationally specific social institutions that made for high international competitiveness at high wages and, at the same time, low inequality of incomes and living standards. Already by the late 1980s, when the differences in performance and social organization between the West German economy and its main competitors came to be widely noticed, the continued economic viability of the 'German model' began to appear doubtful to many. Shortly thereafter, the survival of the German version of advanced capitalism became tied to its successful extension to the former East Germany. With the 1992 completion of the European Internal Market, it became in addition dependent on the compatibility of German economic institutions with the emerging regime of the integrated European economy. Resumen En las aproximadamente cuatro décadas transcurridas entre el fin de la Segunda Guerra Mundial y la unificación alemana, la sociedad germano-occidental dio origen a un tipo distintivo de economía capitalista, gobernado por instituciones sociales nacionalmente específicas que produjeron alta competitividad internacional con salarios altos y, al mismo tiempo, baja desigualdad de ingresos y niveles de vida. Ya alrededor de fines de los '80, cuando las diferencias en performance y organización social entre la economía germano-occidental y sus principales competidores comenzaron a ser ampliamente percibidas, la sostenida viabilidad económica del 'Modelo Alemán' empezo a aparecer dudosa a los ojos de muchos. Poco tiempo después, la supervivencia de la versión alemana de capitalismo avanzado quedaba sujeta a su exitosa extensión a la ex Alemania del Este. Con el completo establecimiento del Mercado Común Europeo esta supervivencia devino, además, dependiente de la compatibilidad de las instituciones económicas alemanas con el emergente régimen de la economía europea integrada.

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Language

  • English

Temporal Coverage

1940s-1980s

Format

.pdf and online resource

Spatial Coverage

Germany

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