The Social-Ecological Market Economy in Germany
2018 | Dr. Lars Handrich, Prof. Dr. Alexander Kritikos, Dr. Anselm Mattes and Franziska Neumann, commented by Jost de Jager, Schleswig-Holstein’s Former Minister of Economic Affairs | GIZ
Maintaining high social and environmental standards may be costly in the short term, but these high standards are also key drivers for productivity, growth and sustained long-term technological development. Germany’s general approach is actively shaping the social and ecological character of its economy through appropriate regulation, promoting private initiative and innovation and supporting development through public-private collaboration. This mix can provide important insights for policy makers in other (developing and emerging) countries, striving for long-run economic stability and smart, sustainable, and inclusive growth. There is no universal quick path for economic growth and social well-being. Both require trust and stability, whose development takes time.
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