Counter-argument: Rise of The German Model
As of 2009 and the recent worldwide economic downturn, some analysts have speculated that the German model of social capitalism is resurgent and is the most responsible economic system that still ensures the survival of the free market. With recent economic schemes and company abuses, such as in the Bernard Madoff scandal, the Enron scandal, and the financial crisis of 2007–2010, the German model of a rigidly structured and regulated economy has become more attractive, as part of the financial crisis could be attributed to a lack of regulation associated with laissez-faire capitalism.
From 2003 to 2008, Germany (a nation with only 80 million inhabitants) was the world strongest exporter. In 2009, China (1.3 billion inhabitants) overtook Germany in exports. One of the reasons for this are the Hidden Champions as a result of the German Model.
Read more about this topic: German Model
Famous quotes containing the words rise, german and/or model:
“A fallen tree does not rise again.”
—Hawaiian saying no. 2412, ‘lelo No’Eau, collected, translated, and annotated by Mary Kawena Pukui, Bishop Museum Press, Hawaii (1983)
“Germany has reduced savagery to a science, and this great war for the victorious peace of justice must go on until the German cancer is cut clean out of the world body.”
—Theodore Roosevelt (1858–1919)
“Your home is regarded as a model home, your life as a model life. But all this splendor, and you along with it ... it’s just as though it were built upon a shifting quagmire. A moment may come, a word can be spoken, and both you and all this splendor will collapse.”
—Henrik Ibsen (1828–1906)