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Von der Finanzkrise zur Weltwirtschaftskrise (III)

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  • Gustav A. Horn
  • Katharina Dröge
  • Simon Sturn
  • Till van Treeck
  • Rudolf Zwiener

Abstract

Eine zentrale Ursache der aktuellen Krise, die von international renommierten Ökonomen betont wird aber in der öffentlichen Debatte in Deutschland noch wenig Beachtung findet, ist die rasante Zunahme der Einkommensungleichheit in vielen Industrieländern, aber auch in einigen Schwellenländern. In den USA haben viele Privathaushalte - unterstützt durch ein dereguliertes Finanzsystem - auf stagnierende Realeinkommen mit einer immer ausgedehnteren Kreditaufnahme reagiert. Nur so konnte der private Konsum über Jahre hinweg zur tragenden Stütze des Wirtschaftswachstums in den USA werden. Anders in Deutschland: Hier haben die schwache Lohnentwicklung und sozialpolitische Einschnitte nicht zu erhöhter Verschuldung, sondern zu Konsumverzicht geführt, dessen Ergebnis eine anhaltende binnenwirtschaftliche Wachstumsschwäche war. Spiegelbild der extremen, durch schwache Lohnzuwächse unterstützten Exportsteigerungen der deutschen Wirtschaft waren hohe Kapitalexporte sowie eine starke (und riskante) Auslandsorientierung des Bankensektors. Mit der aktuellen Krise sind beide Wachstumsmodelle an offensichtliche Grenzen gelangt. Ein Richtungswechsel in der Verteilungspolitik ist eine notwendige Bedingung für die künftige gesamtwirtschaftliche Stabilität der deutschen und auch der globalen Wirtschaft.

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  • Gustav A. Horn & Katharina Dröge & Simon Sturn & Till van Treeck & Rudolf Zwiener, 2009. "Von der Finanzkrise zur Weltwirtschaftskrise (III)," IMK Report 41-2009, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  • Handle: RePEc:imk:report:41-2009
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    2. Georg Feigl & Josef Zuckerstätter, 2012. "Wettbewerbs(des)orientierung," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 117, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
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    5. Gustav A. Horn & Heike Joebges & Torsten Niechoj & Christian R. Proaño & Simon Sturn & Silke Tober & Achim Truger & Till van Treeck, 2009. "Von der Finanzkrise zur Weltwirtschaftskrise (I)," IMK Report 38-2009, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
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    14. Engelbert Stockhammer, 2011. "Polarisierung der Einkommensverteilung als strukturelle Ursache der gegenwärtigen Finanz- und Wirtschaftskrise," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 37(3), pages 378-402.
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