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I also think there is some real good news here -- the continued success of "social partnership" in bringing down labor costs indicates that the German IR system need not be scrapped; it continues to produce adjustment to changing economic conditions with relative labor peace. It's becoming clear to me that these kinds of institutions are a real alternative to Thatcherite neoliberalism in terms of successful economic adjustment.

Also, the education and innovation initiatives should help build on the strengths of the German economy in the long-run.

by TGeraghty on Sat Aug 20th, 2005 at 04:37:47 PM EST
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Social partnership is the model used in Ireland, despite what some clueless commentators might suggest. We're just starting up the process of negotiating a new national wage agreement at the moment.
by Colman (colman at eurotrib.com) on Sun Aug 21st, 2005 at 11:14:25 AM EST
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