The Economic Unification of Germany
In Jumpstart two well-known German economists synthesize a vast body of literature to present the first well-structured, clearly argued analytical account of the reunification process and the policy alternatives.
The unification of Germany is one of the most wrenching and dramatic transitions in economic history. A policy issue of worldwide interest, it holds key lessons for the remaining post-socialist economies. In Jumpstart two well-known German economists synthesize a vast body of literature to present the first well-structured, clearly argued analytical account of the reunification process and the policy alternatives. The Sinns' authoritative and primarily nontechnical account will Interest nonspecialists who want to keep up with economic events. Their summary of the German experience with radical reform will provide a valuable reference for specialists in transition economics.Contrary to fears that German reunification would bring on a resurgence of nationalism, the Sinns point out, It has met with apathy and indifference. Nonetheless, a great deal is at stake in the battle for redistribution, and the present economic chaos poses a serious threat to social stability.The Sinns suggest a "social pact" between labor and management that could put an end to the struggle over distribution and speed up the transformation of the former East German communist economy into a market economy. The core of this pact is a shift In emphasis from factor prices to the fundamental Issues of compensation and the distribution of real wealth.
HardcoverOut of Print ISBN: 9780262193276 272 pp. | 6 in x 9 in
Paperback$25.00 X ISBN: 9780262691727 272 pp. | 6 in x 9 in
At last, the single best book on German economic unification—in any language—is available in English. German unification is replete with implications for Eastern Europe's transition to the market, Western Europe's monetary union project, and the future of the industrial world. No one has succeeded like Sinn and Sinn is drawing them out.
Professor of Economics, University of California
The authors offer a penetrating economic analysis of German reunification policy and its failings, together with a novel prescription for success. This is must reading for all concerned with this perplexing problem.
Richard A. Musgrave
H.H. Burbank Professor of Political Economy, Emeritus, Harvard University
This book gives an excellent summary of the facts and a penetrating analysis of the mistakes in policy...it is written in a way which is accessible to non-economists, and which may well provoke many of them to think harder about the issue it raises. I know of no other books, in English or German, which set out the issues so comprehensively and systematically and subject them to such careful analysis.
Professor of Economics, University of Guelph
The book is indeed an authoritative, closely reasoned and fascinating survey of the economic problems of German unification. It is bound to be one of the basic references in the German unification debate...The book is not only original, but probably the only one of its kind at the present time.
University of California
Even with the most auispicious conditions, East German transition has been a tramatic experiment. This important book by Sinn & Sinn is the most detailed, professional treatment of the hurdles in the way of success and of the strategies that make favorable outcomes more likely—a must reading for students of transition and for those interested in the economic prospects of Germany.
Professor of Economics, MIT
Jumpstart represents the most authoritative and well-researched analysis of German unification to date. The authors present a lucid and cogent assessment of present and future prospects in East Germany, and their sometimes controversial policy recommendations are based on sound economic reasoning rather than legal of political considerations. German policymakers who ignore the message of this book do so at their own peril.
Michael C. Burda
Associate Professor of Economics, INSEAD