Finanzpolitik für die kommende Generation

Hamm Walter

ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, 2002, vol. 53, issue 1, 1-20

Abstract: For many years Germany has been living beyond her means. The coming generation will have to bear the financial consequences. Not only the high budget deficits of the Federal Government but also the financial crisis of the social security system and the uncertain financing of public officials’ pensions are at issue. Moreover, public investment is inexcusably neglected. Intergenerational income redistribution has assumed alarming proportions and will undoubtedly overcharge our children and grand-children. Unlike governments of other countries German politicians do practically nothing to inform people of these problems, much less to take steps to solve them. According to an OECD report Germany has the highest sustainability gap of all countries. Government continues to put new burdens on the future generation without making financial provisions. The article outlines the present situation of public finance in Germany and discusses the ever increasing burden on the coming generation and ways and means to overcome the sustainability gap in public finance.

Date: 2002
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DOI: 10.1515/ordo-2002-0103

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