The New World Ordoliberalism Part 3: About That Raise You Wanted...

Along with last week’s news of Ger­many’s record trade sur­plus, the open­ing of an EU inves­ti­ga­tion into Ger­many’s grow­ing sur­plus­es, and Europe’s oth­er recent remark­able socioeco­nom­ic achieve­ments, Angela Merkel urged the CDU to com­pro­mise on an across-the-board 8.50 euro Ger­man min­i­mum wage. It’s great news because wage defla­tion is still part of the EU’s long-term agen­da.