Germany has forgotten the era that made it rich

Dear Reader,

Germany’s economic success is often traced to the postwar Wirtschaftswunder. But the real breakthrough came earlier — in the Kaiserreich, when the country became the most advanced economy in the world.

That model has since disappeared.

Modern Germany excels at refining existing industries. But it struggles to create new ones — and that is starting to show.

In today’s Saturday essay, I explain why — and what Germany would need to rediscover to compete again.

Best,

Jörg Luyken