Word: launhardt
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Dates: during 1982-1982
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...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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