The Political Economy of German Capitalism
Modern phase (1950-2020)
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The monograph is devoted to the political and economic aspects of capitalist development of the Federal Republic of Germany at the present stage, including its role in European integration. Based on the Caldorian approach to technical progress and its types, the author reveals and analyzes the patterns of growth of the German economy between 1950 and 2020, in particular, the emergence and decline of the phenomenon of the German "economic miracle", which he explains primarily as a consequence of the equipment of workers with physical capital and relevant inhibiting effects. The role of supply-s...
The monograph is devoted to the political and economic aspects of capitalist development of the Federal Republic of Germany at the present stage, including its role in European integration. Based on the Caldorian approach to technical progress and its types, the author reveals and analyzes the patterns of growth of the German economy between 1950 and 2020, in particular, the emergence and decline of the phenomenon of the German "economic miracle", which he explains primarily as a consequence of the equipment of workers with physical capital and relevant inhibiting effects. The role of supply-side factors in the economic growth of the FRG is analyzed with reference to Kurihara's neo-Keynesian model. To analyze the supply side, we used the endogenous general or world growth model developed by Professor György Simon Sr. with an embedded mechanism of technological progress, which takes into account both physical and human capital along with time as the event space of creative economic activity. The author managed to calculate with its help the total factor efficiency of the German economy in comparison with the world level.
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