The Secret To Germany's Powerful Economy
Pointed to as an example of success, the German economy has thrived while the rest of Europe struggled. So what's their recipe for success?
Despite a global recession, Germany has managed to grow its economy, create jobs, and reduce its national debt. The secret to its success? The Mittelstand, an economic model comprised of middle class and family owned businesses.
With an estimated 99 percent of businesses that employ nearly 80 percent of the workforce, the Mittelstand is the backbone of the German economy. So how does the Mittelstand differ from any other market system?
Wall Street Journal: The Engines of Growth
The Economist: German Lessons