Prerequisites : Germany

The Federal Republic of Germany has a number of advantages over its international rivals: a high level of productivity, an extensively skilled and motivated work force, high technical standards, creative scientists, a well-functioning infrastructure, social harmony, a stable currency and a reliable political environment. These assets alone, however, cannot ensure Germany’s success in the future. In such matters as wage costs and costs additional to wages, operating times, company taxes, environmental protection regulations and social security contributions, German firms are at a distinct disadvantage.

All these factors must be counterbalanced by high increases in productivity. Germany must see to it that it remains internationally competitive in the fields of research and development, in the development of new key technologies, and in the translation of innovative ideas into marketable finished products. Free market competition is the best course of action. It makes possible the emergence of efficient production structures and ensures a supply of goods that is oriented toward the wishes of the ultimate consumers.