We\’re getting a certain amount of whining from the TUC (and also from the AFL-CIO over the Pond) that wages have been growing more slowly than productivity in recent years. And that this is the real, underlying, cause of our economic woes.
German wages grew more slowly than productivity over the last decade, helped along by Gerhard Schröder\’s labor reforms in 2003-05. This meant Germans consumed vastly less than they produced, fueling an export boom and keeping unemployment low.
Does Germany have different laws of economics then?