Sunday, July 12, 2009

What should I do in this economic situation?

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Economic situation and development in the economic situation of Germany is currently governed by high unemployment, particularly saturated gains of export-oriented transnational liability companies, while job losses, especially by those same companies in Germany and largely stagnant or even declining incomes, while workers tend to extend the working hours on pressure from the employer identified.

The power of fund managers, stock speculators and other representatives of companies whose sole goal is the fast propagation of the capital entrusted to them is growing steadily. The result is that managers in particular, because they, unlike independent and responsible entrepreneurs and temporary employees of the large shareholders are dependent, in any case, if these major shareholders from such short term thinking and acting collective capital and profit-maximizing companies - so-called investment or investment companies - are , no long-term corporate strategies to develop and implement, but just remember, as soon as possible, reduce costs and increase profit - to hostile takeovers by other corporations to avoid - in the share price may increase.

Negative consequences society politically and economically, but also economically, this development is at a disadvantage: a business because the companies concerned will be exploited at short and long term competitiveness, because, first, to remain under investment, the only viable long-term, secondly, the strategic planning generally neglected, thirdly missing after the dismissal of waves experienced staff and it is later given the battered reputation of the more difficult, skilled new employees to win, and fourthly, to suffer the motivation of the workforce remaining balance, which usually have an impact on productivity, product quality and innovation remains.

In economic development is therefore harmful, because it is the number of unemployed increased, and the competitiveness of the German economy as a whole decreased. Politically society eventually leads to the development of a tripartite division of society into ever richer one expectant Aktien-/Kapitalbesitzer in workers who have trouble with their standard of living can hold or even cut, and the other in possession and powerless, from participating in social life lack of money is largely excluded from low-income earners, the unemployed and welfare recipients to third parties. It is quite conceivable that this development if it continues, long-term political consequences, because why should workers, the unemployed and welfare recipients a political and economic system in favor of the capital against the owners of massive and permanent disadvantage? Why should employees taxes on their income - that is, on the wages - pay shareholders and entrepreneurs for their shares and corporate and capital gains but not or hardly any? From the Basic Law, the full power and sanctity of the capital not covered. It says: "Property obliged. Its use is also designed to serve the public interest."

Managers and entrepreneurs on the other hand, may present their employees with impunity threaten and blackmail as well as the community eg through layoffs, early retirement, (legal) tricks and profit tax shifts harm. The strategy extortion - even against the state - has already been outlined.

Especially at high gains and dividend reinvestment instead of the same sort of behavior is not acceptable. But even at ailing companies is to ask: Is a temporary or permanent wage waiver is an appropriate means to the company competitive again for the long term, or a closure of operations in the longer term anyway inevitable? What do the managers of the company to the brink of bankruptcy gewirtschaftet have to clean up with? What the state is concerned, he is on his poor financial situation, particularly in the miserable financial situation of municipalities accomplice: Completely incomprehensible, for example, that many companies in Germany, despite rich gains little or even no taxes to pay - z . as an investment company if a company largely through loans and subsequently bought debt repayment and the acquired companies to bear - and that capital gains are tax free.

Is also difficult to reduce the top rate in spite of empty state treasury, which, logically, mainly benefited the top income earners. In jobs in Germany has invested the money so obtained by such recipients apparently never, or hardly ever. Given the remedial action outlined the negative consequences it is necessary, whereby the power of fund managers, speculators and short-term investors with maximum expected returns back.

At the same time provide incentives for managers to be so that for them long-term strategic action is worth more than short-term profit maximization on the basis of raising resources and employee exploitation. In addition, the division of society into rich capital owners, workers without significant reserves and poor low-income earners, the unemployed and welfare recipients as possible reduced. Unemployment could be, as already discussed by the skills of the unemployed and job-sharing is largely eliminated. The only hope and wait for a sufficient economic growth, the unemployment is not reduced. Even low-wage jobs or by subsidizing their wages are combi little sense, because with cheap products and Einfachstjobs Germany can maintain its position on the world not say. In addition, areas of economic decency and common sense that a job at least as well paid to be that which an individual can live in dignity.

Furthermore, the severity of wages and skilled labor into account. Minimum wages, or an unconditional financial Grundsicherung all citizens could be a drop in wages in a decent level prevented. Qualification and are working on a permanent reduction imperative: In the production area are almost all jobs for unskilled gradually eliminated through automation. But even in the service sector, many jobs - such as in sales, at the counter or at the checkout - wegrationalisiert or - eg in customer services - simply deleted. Even where personal assistance unlässlich, eg for the elderly and nursing, has summarized the work of years, fewer and fewer qualified, permanent staff and far too little time for each patient care event and the estimated remaining staff ruthlessly exploited .

This is not only to help the companies by profit maximization, but also to the greed of many customers who are only on the eighth and price quality, service and proximity to customers is not rewarded, as well as - for example, are often old and inadequate care sick people in residential and nursing homes or the reduction of the "pocket money" for residents - and to the selfishness and the feeling of coldness of Homo oeconomicus. Avarice and greed are just not "cool", but poison for society. With the decline in unemployment would be - because the employers so that the most threatening and pressure would be taken - including the wages to rise again and again the funds available to the remaining unemployed and welfare recipients a decent life. Should be accompanied by the participation of employees in the company where they work, should be encouraged. That would not only staff the extra income, but usually the entrepreneurs while also motivated people to pay. The stakes, however, should not lead to the workers in a business bankruptcy is not only their jobs but also their entire wealth invested in the company lose. Appropriate safeguards would be necessary.

Adequate participation of employees in the company, possibly supplemented by a right of first refusal of the employees and / or the state in undertaking or planned share sales or a veto, would also be a protection against the sale and subsequent exploitation, destruction or closure of many previously healthy core businesses through investment companies or financially powerful competitors. However, there is also a co-determined by the workers at the enterprise market and therefore market-oriented goods at fair market prices produce.

The manager could be long-term strategic actions to move when their incomes are not driven by short-term successes such as the current rise in share price than on the medium and long-term business development depending made. Thus, for example, a company pension, depending on the average profits of the last fifteen or twenty years, a substantial part of all managers contracts. Each manager would then be wary of the company and employees auszuschlachten to dismiss, only to the share price in the amount of driving. In any case, there is a need for action by the legislature, as many limited liability for managers and supervisory boards now seem to have become self-service stores.

The shareholder control works just with the large public companies where the shares are widely dispersed, apparently inadequately and entrepreneurial participation by workers seems to be restricted in order to be effective. To the power of speculators to break the share price would have the best stable, medium-to long-term success or failure criteria and should be not only determined by supply and demand. That totally overvalued, not a profit-making firm Newcomer large companies to swallow, as in the high phase of the New Economy has occurred, for example, would then no longer possible.

The fear of managers from such acquisitions is justified and understandable, even if they are even in a hostile takeover is usually no need to suffer financial hardship, such as the case Mannesmann / Esser has shown. But even without the guidance of objective success or failure criteria could be the power of speculators limit. It would, for example, only a longer duration of share ownership in the taxation of share profits of stock sales during steuermindernd or a shorter holding period is much greater than previously steuersteigernd be taken into account. Of course, that capital gains are not - as today - after a few years completely tax free. In addition, one could shareholders with increasing duration of share ownership to spend more votes to admit the shareholder meetings.

It would also share ownership of natural persons and of funds or investment companies and equity of tax law to be treated differently. Basics Regardless of utility considerations, in principle, the question of what degree of financial inequality and thus more inequality also have to accept the people and are prepared to tolerate. The fact that someone with a good product or production or sales idea and the ability then to realize that as an entrepreneur financial benefits in the form of profits gained, is certainly in order. However, you may well ask, what the relationship between profit and use, given the low income of many others, at least as hard-working people is ethically justified.

For managers who are not with their own assets for their business decisions espouse, this question is of course all the more urgent. It is very problematic, even if shareholders or reverse speculators alone ensure that they are on the "right" or equity companies have set to be rewarded with profits, which, it was interest as usury would call, and if these profits not to sales successes of the companies concerned, but to wage cuts, layoffs and employment based compaction. If someone is gambling like the stock market - and nothing more than a gamble is the commitment on the stock at least for most private investors - and it involved other people, affecting their profits tax free or taxed hardly allowed to retain, as is currently usually the case?

The problem is certainly the law of succession: that of parents to their children as their assets undiminished want to leave is understandable, but that the state this request due to high allowances for inheritance tax, inheritance tax rates low for inheritance to their own offspring and the de facto exemption from inheritance tax in the inheritance of medium-sized enterprises is very largely, people who do not have rich parents, just as little sense, even if the exemption from inheritance tax on the inheritance of medium-sized enterprises actually operational and economic sense should be - what has so far been a mere assertion and has yet to be demonstrated. Social policy are the small inheritance taxes or the waiver of inheritance taxes in no way makes sense because it encourages the State has a continuing education or money aristocracy within which the assets undiminished or even gemehrt from generation to generation, while those who have little or not possess, from generation to generation, have little career prospects. Why, for example, may be a correspondingly large sized companies are not at the death of the founder (or earlier) in a cooperative farm or a corporation, where the heirs of the founder shares / shares in that extent, given their share of the Company after deducting the inheritance tax, and the state his shares to the employees of the company can resell? Generally, we again apply the Basic Law and to the social commitment of ownership, especially of such that is not a proper private life serves, but for other people is vitally important, from ownership of productive assets, such as shareholders' shares or stock and of ownership of rented dwellings, not just in rhetoric to evoke, but in practice to enforce.

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