Debunking the Myth: Germans Ain't Gaining Economically from Holiday Terminations
Facebook 🔄 Twitter 🔄 Whatsapp 🔄 E-Mail 🔄 Print 🔄 Copy Link 🔄
Eliminating Public Holidays Fails to Spur Economic Growth
Times are tight, and people are always on the lookout for quick solutions to jumpstart the economy. But what about eliminating holidays entirely? Recently, a study by the Institute for Macroeconomics and Economic Research (IMK) connected to the Hans Böckler Foundation made waves across Germany. Their findings? Abolishing holidays ain't the key to economic salvation.
For instance, despite throwing off the brakes in 1995 by retaining the Buß- and Bettag, Saxony managed a whopping 9.7% increase in nominal gross domestic product (GDP), eclipsing the national average of 3.4%. That's a serious difference, my friend! Even the states that axed the holiday like Saxony-Anhalt and Thuringia couldn’t match Saxony’s numbers.
Fast forward to 2019, when Berlin welcomed International Women's Day as a public holiday, and the city recorded a 2 percentage point growth over the national average. Now, I ain't a savant or nuthin', but them numbers add up, don't they?
So, what gives? Why ain't these holiday cancellations paying off as some folks reckon? The IMK researchers spilled the tea: a modern economy is pretty flexible when it comes to holidays. Companies adjust their productions schedules and factor in holiday overtime pay. It's a doozy ol' question if the production would in reality upsurge throughout the year without these holidays or if it'd just get redistributed.
But wait! The demand situation of companies sets the tone for production, as per the IMK. "You can't blame holidays for there not being enough growth, buddy! It's too black and white and doesn't cut it for a contemporary work environment," said Sebastian Dullien, the Scientific Director of the IMK. Whoa, he ain't messin' around! "Boosting growth through holiday elimination ain't productive," added Dullien.
So, there you have it. A study, public opinion, and common sense tell us the same story: holidays ain't the bad guys keeping the German economy down. Let's keep those weekends and holidays rolling, shall we? 😎
Community policy should consider the importance of maintaining holidays in promoting economic growth, especially in terms of fostering a positive business environment. Vocational training programs might be a more practical approach for employers to increase productivity, as finance plays a crucial role in supporting businesses and encouraging growth.
