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English Wikipedia
Der lange Schatten der Hyperinflation: Oder: Die Sicherheitspräferenz der
Deutschen und deren Folgen für Staatsfinanzen, Kapitalanlage und
Unternehmensfinanzierung
#MMPMIDC7653456
Hüther M
ä-/-ä 2021[]; 46
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): 273-98
PMIDC7653456
show ga
Germany has some peculiarities when it comes to dealing with financial issues.
These include the low return from the extensive international investments out of
this export-oriented economy, the inadequate provision of venture capital even
decades after the first finding, and the very restrictive regulation of public
debt compared to many similarly developed economies. The three aspects have a
common pattern insofar as they indicate a lack of willingness to rely on future
growth and to accept risks. How can this high preference for stability and
security be explained? For this, in the tradition of Geert Hofstede, questions
are asked about the formative cultural attitudes and the twofold experience of
hyperinflation in the 20th century are identified as the historical background
for Germany. What economic policy options there are despite habitual fixations
will be discussed in conclusion. The answer lies in the mobilization of state
investments, an infrastructure for innovation and a positive image of
entrepreneurial spirit.