GERMANY ECONOMY
by Willford Gwabeni

Germany has one of the best economies in Europe and in the world. Even though Germany is a socialistic country, it is also a top capitalistic country and its economy is driven mainly by capitalists like Mercedes Benz and many others.

The higher minimum wage plays a big role in efforts to distribute economic resources equally. Germany’s minimum wage is euro8.50 per hour.

Here are some of the factors why Germany has such a great economy;

• Companies run 24 hours a day and have three shifts which ensures that more people are employed in comparison to third world countries where companies only run for one shift.
• Low rates of crime; it can be argued that low crime rates contribute to the growth of the economy or a developed economy causes low crime rates because people have jobs so they do not have to hassle for themselves.
• There is less money spent on security measures which ensures that money is spent on growing the economy.

As stated above, it is clear that Germany is a business friendly country.