Economic System of Germany
The Federal Republic of Germany's economy has now flourished despite its harsh times that have been faced throughout the decades. Most people know about Germany from its historic involvement in World War II; its successful campaign to unite East and West with the successful collapse of the Berlin Wall; and its world class development and production of automobiles. Unfortunately, what most people don't know is that Germany continues to fight an uphill battle in keeping its established ranking among the world's most important economic powers. A historic look back at Germany shows that after its fall in World War II, it needed a massive rebuilding in order regain its status that it once held. Various events took place that helped it re-climb the pedestal ladder. The year 1948 brought a currency reform that was the turning point for economic reform. There was a continuous economic growth each year for Western Germany, but the strict, conservative ways of East Germany's communist rule still slowed true growth in the Gross Domestic Product (GDP). To make matters worse, the whole country experienced a significant drop in its GDP, causing a recession from 1976 through to 1985. There was a growth agai
"Germany." Encyclopedia Britanica. 1997 edition. Unemployment is one problem that has faced the country for decades. From the horrors of World War II to 1998, Germany has faced this problem forever. It has reached its highs and lows, with a 1996 statistic stating that of the 39.96 million in the work force, 3.97 million of those were unemployed. A large part of it has to do with the country's economy that continues to see-saw, requiring quick intervention by the Bundesbank and Bundestag. The eastern states faced the worst of it because to this day they continue to reform and with reform comes work force reduction. Germany's labor is fully unionized and the government has special courts to help settle any disputes. To help further curb the unemployment rate increases, a national program is in place to help place workers whose jobs have been phased out due to automation. Culturegrams 1995. Brigham Young University: David M. Kennedy Center for International Study, 1998. n for the next eight years before a major down ward spiral began in 1992.
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Approximate Word count = 1269
Approximate Pages = 5 (250 words per page double spaced)
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