December 31, 2003
Haven't had much call to praise much that Gerhard Schroeder has said of late, but I give him props for this quote in a recent editorial in the WSJ:
Focusing our energies solely on distributing prosperity as equitably as possible within society is not enough. We must at the same time do all in our power to nurture the sources of future prosperity.
After all, Germany, with few natural resources and high labor costs, can only safeguard and enhance prosperity through innovative products, through application of knowledge and skills. Therefore it is only right that, following the reforms to the social security systems, we should begin to devote more attention to innovation. Only thus can we sustainably improve the climate for greater growth and employment.