Saturday, August 14, 2010

Recession Policy in Germany

Germany is enjoying economic growth despite the world-wide recession. Their policy reported by the New York Times makes a lot of sense to me:
"Government officials here are confident they found the right approach, including a better solution to unemployment. They extended the “Kurzarbeit” or “short work” program to encourage companies to furlough workers or give them fewer hours instead of firing them, making up lost wages out of a fund filled in good times through payroll deductions and company contributions."

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