Question

1) In two to three coherent sentences, explain each of the following concepts: a) Popular capitalism, b) Mitbestimmung and c) Ordnungspolitik.

2) Privatization: What do we mean by the term privatization? How successful was privatization in Great Britain?

3) Mittelstand: Explain the importance of the “Mittelstand” for the success of German manufacturing and employment.

4) Post-Brexit: State and explain one point from the article “A weaker post-Brexit Britain looks to America,” The Economist, Jan 30, 2020.

Answer 1

1...a) POPOLAR CAPITALISM is based on the idea that everyone should have the opportunity to own property and shares in a company, this concept involves a wider spread of privately owned wealth.

b)mitbestimmung is a germen term which means co determination, i.e. workers participation in management decision.

c) ordnungspolitik is a germen term which means governance. i.e. governance is the term for the way group of people in a country do things. governance is action or manner of governing a state or organisation.

2...PRIVATISATION MEANING: The transfer of ownership , control from government sector to private sector is called privatisation.

in privatisation in britain mistakes were made but they were dealt with accurately afterwards. so overall it was a success

3...MITTLESTAND IS A small and medium sized company in a country which is viewed as an economic unit, in germen speaking countries.

importance of mittlestand:

mittlestand is often viewed as heart of germeny's economy because mid sized firms account for the largest share of country economic output, provide employment to about 60% of works, provide training to them and contribute a huge amount to government tax revenue in germeny.

4... brexit refers to britain leaving EU i.e europeon union which means british exit from EU

IN THIS ARTICLE it is mentioned that boris johnson predicted that outside the EU, the thriving british would be even better and more valueble allies of the united states. this statement means that british relationship with america has always been special but it was believed that if britain leaves EU than it would prove to be a even better scenerio for britain and US relationship which was proved wrong post brexit as britain found itself loggerheads with us on many issues.