Word: launhardt
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Another fear about falling oil prices is that they could do more damage to the already faltering efforts to develop alternative energy sources. In West Germany, says Economist Liane Launhardt of Commerzbank, research money for vanguard work on solar energy, coal gasification and synthetic fuel may dry up. France is deeply committed to an ambitious nuclear program, which now generates 39% of the country's electricity. The French want to raise that figure to 70% by 1990, but if oil prices slide, the investment could end up being extremely uneconomical...
...with problems of the country's sagging economy. The most sensitive issue is social-welfare spending: at a time when 1.8 million West Germans are unemployed, businessmen are complaining loudly that 70% of their labor costs are for social benefits, the steepest percentage in Western Europe. Says Liane Launhardt, an economist for the Frankfurt-based Commerzbank: "There is no doubt that what we have done over the years is escalate the social safety net." Agrees Economist Wolfgang Baumann of the Cologne-based Federation of Industry: "What we need is a shift to supply-side economics, German-style...
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