Question

In: Economics

Give one fact why Germany is better off after the pandemic

Give one fact why Germany is better off after the pandemic

Solutions

Expert Solution

German lawmakers and policy makers should comfortably turn their backs on at least three sets of successes in the war against the COVID-19 pandemic. So far as the human element is concerned, Germany's fatality rate has so far been low; economically, its citizens have been well insulated from the turmoil caused by the virus in many other countries; politically, its democratic institutions are still intact.

The key reason for this "German exception" lies in the medical preparedness of the country. As early as mid-January, German virologists had developed a virus test; by February, German labs had built up the requisite test kit stocks; the government had made an early commitment to testing and tracing; the country already had a high ICU capacity relative to its European rivals, which was further improved by new incentives.

Necessary locking-type steps to minimize the spread of the pandemic would create immediate economic costs for workers and families in all countries The German government's policy response on this front was swift and supportive. On 23 March, a comprehensive economic package of EUR 750 billion was announced. These included incentives for small businesses and freelancers, stability programs for big corporations and support measures for families.

The package was laudable not only in terms of its substance, but also in terms of its signaling effect: the government recognized the economic pain that its people would have had to suffer in the battle against the virus, and was willing – as a rare exception to even get into debt to aid. Since then, further steps of this kind have been introduced and successfully enforced.In fact, German democracy is intact, as are the civil liberties of the people. This government has wisely avoided the temptation to turn to surveillance systems that are rapidly becoming the rule in other parts of both the global North and the global South.


Related Solutions

Give one fact why Germany is better off after the pandemic
Give one fact why Germany is better off after the pandemic
Give one fact why Germany is better off after the pandemic
Give one fact why Germany is better off after the pandemic
Justify why someone may be better off investing their money in an RESP instead of a...
Justify why someone may be better off investing their money in an RESP instead of a GIC or savings account.
In your opinion, will the economy be better off or worse off this year? Will the...
In your opinion, will the economy be better off or worse off this year? Will the stock market go up or go down ?
why is it better for a business to enter the market in a small way? give...
why is it better for a business to enter the market in a small way? give an example
Explain what is meant by specialization and trade and why countries are better-off through specialization and...
Explain what is meant by specialization and trade and why countries are better-off through specialization and trade.
Which is a better deal on a $39.99 item? Select one: a. 40% off original price...
Which is a better deal on a $39.99 item? Select one: a. 40% off original price with an additional 20% taken at the register b. 45% off original price with an additional 10% off coupon c. 30% off original price with an additional 20% off coupon d. 50% off original price
Why Binomial option price model and Black-Scholes model give different results? Which one is better to...
Why Binomial option price model and Black-Scholes model give different results? Which one is better to use for the option valuation and why?
Economic experiments have found that individuals prefer an outcome where no one is made better off...
Economic experiments have found that individuals prefer an outcome where no one is made better off to an outcome where the welfare of only some is improved if that improvement in welfare is unequally distributed. Why do you think this is so?
Is one better off believing in God? What are good things that result from religion? What...
Is one better off believing in God? What are good things that result from religion? What are the bad things that result from religion? Does the good outwiegh the bad? 200 word minimum.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT