The German economic miracle is same old American nonsense.

Some 20% of Germans now work in “low-wage” jobs, about the same share as in Britain, not much lower than in America and almost twice as much as in France. Germany’s employment boom had less to do with the Mittelstand than with this overhaul at the bottom, which pulled a lot of low-skilled people into work—though it also exerted a downward pull on overall productivity.

via The economy: Dissecting the miracle | The Economist.

 

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