(Community Matters) Interestingly enough, our conversation last night touched on the topic of today’s column – especially on Brook’s closing about Germany & starting with the fundamentals.
First – I am no economist, though my husband has his PhD in economics from Stanford, and I have met payroll for 150+, managed finances & operations for a manufacturer, been on one side or the other of literally hundreds of acquisitions, mergers & startups as a banker, operator, investor and seller, and taught in UT’s MBA program.
During the last several days while in Germany, I have observed, discussed and read a fair amount about their economy – today and since reunification. A relatively frequent visitor to Europe & Asia, I’ve been reflecting on the presumed assumption that America must maintain its position as the number one economic world power, especially juxtaposed against the quality of life Steven and I observe in many Western European countries. And, I have noted Germany’s capitalist bend within a broader, certainly more socialistic Europe (let’s not get into the crab-in-a-bucket Euro economy which includes Greece, Portugal and so many others).
My eye was here when the Wall came down (and my body for a brief moment), and I remember the national pride which gave Germans the confidence to full throttle reunify despite the obvious economic hardship of merging with a bankrupt country. Their economic resilience is attributable to many fundamentals – though perhaps not all ones financial conservatives would enthusiastically embrace.
Maintaining a strong, high value-added manufacturing base and stronger labor laws than in the United States has served this country well. I need to study more but assume so have their well-enforced green, finance & other business regulations.
My thoughts are evolving – not only by observations, reading & conversations while on this trip, but also by recent conversations with leading Austin entrepreneurs. One – who has worldwide operations – offered his opinion of how outsourcing yet virtually managing from the US offers great economic opportunities for out-of-work supervisors & managers. Another pays homage to unencumbered (whether or not they are taxpayer subsidized being another matter) flows of capital, citing the efficiency of Wall Street, invoking the necessity of casino like risks & rewards (perhaps telling imagery). I’m looking forward to more conversations and observations – next week from Asia.
I hope last night wasn’t foreshadowing when our friends (including an international business executive) admitted that after the previous administration’s eight years and the economically disappointing last two, what America says and does merits less weight. Then again, even Atlas tried tricking Hercules into taking over.
David Brooks’ The Two Cultures
Posted on my Blackberry from Rhineland-Pfalz, Germany (pardon typos, tiny little keys)
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