Unlike the Founding Fathers of the United States, the founders of the German economic constitution believed that corporatism and a large welfare state were fully compatible with economic efficiency and robust individual liberty. In recent years, however, the dilemmas resulting from Germany’s social ethos have become plainly visible.

Ulrich Witt is Founder and Director of the Evolutionary Economics Unit at the Max Planck Institute and Honorary Professor of Economics at the University of Jena.
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