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Germany in the Doldrums

Helmut Anheier, adjunct professor of public policy and social welfare at UCLA Luskin, penned a commentary about Germany’s political and economic doldrums for Project Syndicate. Once a beacon of stability, the Germany of recent years has proved itself unprepared for global shocks and shifting geopolitics, including a pandemic, energy shortages, and hostilities in Europe and the Middle East. Anheier points to the “liability of success” as a key cause of the country’s woes. “What is true for companies is true for countries: good financial performance can lead to complacency. During periods of strong economic growth, governments become overconfident and disregard changing conditions,” he writes. “Sitting on its laurels for too long left [Germany] ill-prepared for today’s world.”


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