May 15, 2005

Another Job Germans Won't Do

I think that David's Medienkritik is spot on in lambasting German Leftist xenophobia by IG Metall, Germany's largest union. It really is a rerun of the classic german anti-capitalist propaganda from the '30s. But David misses a trick in that he doesn't answer the question, where are the Germans?

In any economic biosphere there are producers and decomposers. The decomposers are essential to sustainable growth and stability in the system. By taking out firms that are sucking up inordinate amounts of capital and not performing, such economic actors as "Blackstone, KKR, Investcorp" serve the same essential purpose as fungi, earthworms, and bacteria in the worldwide biosphere. They unlock essential resources and make them available for use by other actors.

So where are the Germans? Why is their domestic "decomposer" sector inexistent or so anemic that it is being shouldered aside by the American "bloodsuckers" (IG Metall's term)? Is this highly paid, lucrative, essential economic role work that Germans just won't do? What's wrong with German financiers?

Posted by TMLutas at May 15, 2005 07:43 AM