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• W3124581852 abstract "An Essay on Collective Bargaining and Unemployment in Germany Lloyd Ulman * and Knut Gerlach ** The Uneasy Triangle …It is impossible for any community to have very full employment and completely free collective bargaining and stable prices. Either one of the three will be completely sacrificed, or else all three will have to be modified. …In the last resort the answer will be given not by economists or by administrators but by the public opinion. At each corner of the triangle, the limiting factor is what public opinion will stand, and the degree of comprehension that public opinion will show for an economic policy that tries to preserve balance between competing objectives. (The Economist, August-October, 1952: 376, 435) I. The Triangle in Germany Can Germany in the 1990s provide a contemporary example of the “uneasy triangle” posited by The Economist in the early 1950s? As the millennium approached, Germany’s inflation rate was very low; its unemployment rate unacceptably high; and its system of collective bargaining arguably the strongest to be found in any major industrial country. Public opinion appears to have played a more limiting role in the first of these corners of Germany’s triangles than in the other two. Professor of Economics and Industrial Relations, Emeritus, University of California, Berkeley Professor of Labor Economics, Institute of Quantitative Economic Research, Faculty of Economics, University of Hannover. We thank Olaf Huebler and Wolfgang Meyer for very helpful comments. Michael Enriquez and Paola Giuliano provided us with exceptional research assistance." @default.
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• W3124581852 title "An essay on collective bargaining and unemployment in Germany" @default.
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